East Fort Walton Beach: An Under Supply – Something We Used to Know
Ahhh…the good old days of under supply, increasing values, less than 90 days marketing times. Something we used to know back in 2004-2006. We call this a seller’s market. Bidding wars. Values in East Fort Walton Beach are increasing. By example, the average sale price has increased +3% YOY YTD while the median has increased ...
Ahhh…the good old days of under supply, increasing values, less than 90 days marketing times. Something we used to know back in 2004-2006. We call this a seller’s market. Bidding wars.
Values in East Fort Walton Beach are increasing.
By example, the average sale price has increased +3% YOY YTD while the median has increased +4%. There is an under supply.
Absorption rate is 13/mo. resulting in a 4.38 month’s supply.
The average days-on-market is 67 with a cumulative days on market of 83.
There is little new construction in East Ft. Walton Beach. This is an older established neighborhood. I expect renovations and razing to continue. In some cases, the highest and best use is to remove the existing property as it has reached the end of its useful life, and replace it with a new structure.
This will make comparable searches on the appraisal side very difficult. If you are buying or selling in this area, ensure a geographically competent appraiser is engaged. If you own an older home in East Fort Walton Beach, charge handsomely.
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BBQ: “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” -Franklin D. Roosevelt
BLT: “Somebody That I used to Know” by Gotye