Emerald Coast Florida Pending Sales Down, But Signs of Market Improvement
Real estate sales on the Emerald Coast of Florida are starting to rebound after an early April 2020 decrease. Looking at the entire region, including Navarre, Fort Walton Beach, Destin, Santa Rosa Beach, Miramar Beach, Freeport, Crestview, Niceville, and DeFuniak Springs, pending sales of real estate on the Emerald Coast of Florida are down overall from one to two months ago, near the start of the coronavirus pandemic. Pending sales are a good indicator of the current pulse of the market, compared to closed sales (solds), which show the result of activities a month or more old. Pending sales track where the market is going.
Here is a recap of the Emerald Coast market statistics:
Properties going under contract decreased from 790 units to 650 total units from the first two weeks of March 2020 to the last weeks of April 2020.
That’s a drop of 18% in the number of houses, condos, town homes, lots and commercial properties going under contract.
However, it’s an increase of 31% from the first two weeks of April 2020.
Comparing March to April overall, there was a drop in total units under contract from 1336 to 1096, or 18% fewer sales.
Individual Pending Sales by area from the period of March 1 – March 15 as compared to the period between April 16 – April 30 were as follows:
Destin Pending Sales increased from 51 to 52 ( +1%).
Miramar Beach Pending Sales dropped from 67 to 45 (- 33%).
Niceville Pending Sales dropped from 57 to 55 ( – 3%).
Fort Walton Beach Pending Sales dropped from 123 to 77 ( – 38%).
Santa Rosa Beach, North of Hwy 98, Pending Sales dropped from 37 to 36 (- 2%).
30-A Santa Rosa Beach, South of Hwy 98 Pending Sales dropped from 102 to 74 (- 28%).
Crestview Pending Sales dropped from 120 to 109 (- 9%).
Navarre Florida Pending Sales dropped from 131 to 100 (- 24%).
Decidedly, the Coronavirus economic effect has had an impact on Emerald Coast real estate. but the trend is now upward in terms of new sales. We will take a look at the market again soon.
If you find that during or after the COVID-19 crisis, you must sell your Emerald Coast real estate, consider your options. Let me know if you have any questions about real estate, whether traditional or short sale.
It’s Wendy… It’s Sold!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-259-0422
Email Wendy: [email protected]
Wendy Rulnick, Broker, sells short sale, pre-foreclosure, REO and traditional real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Crestview, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.
This site, Wendy Rulnick or Rulnick Realty, Inc. is not providing legal or tax advice. The information provided is for educational and informational purposes only. It is recommended that sellers considering a short sale should consult an independent legal and tax advisor for more information.
