Fort Walton Beach, Niceville, and Shalimar Real Estate Market Overview Detached Single Family Homes
Fort Walton Beach, Niceville, and Shalimar Real Estate Market Overview (November 3, 2024)
This briefing document analyzes the single-family detached residential real estate market in Fort Walton Beach, Niceville, and Shalimar, Florida, based on data provided by the Emerald Coast Association of Realtors Multiple Listing Service, Inc. (ECARMLS).
Key Findings:
Active Market: The market exhibits strong activity with 670 total listings, comprising 459 active listings, 108 pending, and 103 sold properties within the past 32 days.
Median Price Point: The median sold price for a single-family detached home is $377,500, with a median listing price of $419,450. This suggests a slight seller's advantage with properties selling close to their asking price.
Price Trends: Interestingly, the average sold price is slightly lower than the average original list price, indicating a potential market adjustment. The average price change is -5.39%, with a median price change of -4.51%.
Days on Market (DOM): Properties spend an average of 80 days on the market before being sold, with a cumulative average DOM of 94 days. This suggests a relatively balanced market in terms of time to sell.
Market Time Analysis: Homes listed for 0-30 days have the highest sold-to-list and sold-to-original-list price ratios, indicating a quicker sale at a potentially more favorable price for sellers.
High-End Market: The data also highlights a high-end segment with properties listed for as much as $7,249,500 and selling for up to $1,952,000.
