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.
Real Estate Market Trends in Elliot Point, Fort Walton Beach, FL
Real Estate Market Trends in Elliot Point, Fort Walton Beach, FL (October 30, 2024)
This briefing document summarizes key insights derived from a residential real estate market analysis of the Elliot Point area in Fort Walton Beach, Florida. The data, pulled on October 30, 2024, covers detached single-family homes over the past year.
Key Highlights:
Active Market: The Elliot Point area exhibits an active real estate market with 87 listings, including 27 active, 5 pending, and 55 sold properties.
Price Trends: The average sold price for a home is $478,593, slightly lower than the average list price of $551,429. This translates to a sold/list ratio of 96.15%.
Median Values: The median sold price is $375,000, suggesting a more balanced market with less influence from high-priced outliers.
Market Time: Properties are generally selling quickly, with an average of 58 days on the market (DOM). Over half the properties sold within 0-30 days.
Price Reductions: Sellers are adjusting their expectations, with an average price reduction of $62,572 (-7.51%) from the original list price.
Quick Sales Dominate: Homes selling within 0-30 days achieved a higher sold/list ratio (97.38%) compared to properties lingering on the market for longer durations.
Important Observations:
Buyer's Market Advantage: The data indicates a slight advantage for buyers, evidenced by the lower sold prices compared to list prices and the prevalent price reductions.
Fast-Paced Transactions: The short average DOM suggests high demand and a competitive market where properties move quickly.
Pricing Strategy Impact: Properties priced strategically are selling faster and closer to the asking price, emphasizing the importance of accurate market valuations.
Quotes from Source:
"Information is deemed to be reliable, but is not guaranteed. © 2024 MLS and FBS."
"Such information cannot be duplicated or distributed in any manner without the express written consent of ECARMLS."
Further Analysis:
This preliminary analysis provides a snapshot of the current market trends. A more in-depth study considering factors like property size, location within Elliot Point, and specific features could provide further valuable insights for both buyers and sellers.
Shalimar Point Real Estate Market Briefing (Last 32 Days)
Shalimar Point Real Estate Market Briefing (Last 32 Days)
This briefing analyzes the recent real estate market trends in Lake Lorraine, Shalimar Point and Port Dixie Shalimar, FL 32579, based on data from the last 32 days.
Key Findings:
Slow Market Activity: The market appears to be moving slowly with 36 active listings, 7 pending, and zero properties sold within the reporting period.
Price Reductions: The average list price has decreased by 5.88%, with a median price reduction of 5.46%. This suggests sellers are adjusting prices to attract buyers.
Stale Inventory: A significant portion of listings are lingering on the market. Only 57.14% of listings are within the 0-30 day range, while 14.29% have been active for over 120 days.
Price Variability: The market features a wide range of properties, from a 2 bedroom, 2 bathroom home listed at $284,700 to a 7 bedroom, 7 bathroom estate priced at $2,799,000.
Detailed Insights:
Median Home Profile: The typical home in this market has 4 bedrooms, 3 bathrooms, and 2,181 square feet of living space. The median list price is $530,000, while the median sold price for the period is unavailable due to no recorded sales.
Days on Market: The average and median Days on Market (DOM) for listings are 91 and 54 days, respectively. This indicates a longer than average time to sell.
Price per Square Foot: The average list price per square foot is $261, but this figure doesn't reflect actual sale prices due to the lack of sales data in the period.
Conclusion:
The Shalimar Point real estate market is currently exhibiting signs of a slowdown. Price reductions and extended days on market suggest a potential shift in favor of buyers. However, the lack of sales data within the 32-day window limits a comprehensive analysis of actual market performance. Monitoring future sales data will be crucial to understanding the evolving trends in this market.
Market report for the last 32 days for Poquito Bayou: Shalimar, Fl 32579
Overview of Poquito Bayou Real Estate Market
The real estate market in Poquito Bayou, Shalimar, FL, as of October 30, 2024, shows a blend of activity across active, pending, and sold properties. Let's break down the current state of the market:
Active Properties: There are currently 12 active properties listed in Poquito Bayou. The average listing price for these homes is $674,074. The average size of these homes is 2,609 square feet, with an average price per square foot of $241.76. [1] These homes have spent an average of 85 days on the market.
Pending Properties: Six properties are currently pending sale in the area. These homes have an average size of 2,277 square feet and an average listing price of $516,983.
The average price per square foot for these pending properties is $231.80. They have been on the market for an average of 65 days.
Sold Properties: Over the past year, 21 properties have been sold in Poquito Bayou. These homes had an average size of 2,448 square feet and an average selling price of $747,695.
The average price per square foot for sold properties is $290.47. These homes spent an average of 35 days on the market before selling.
Overall, the market seems to be moderately active, with a steady flow of homes being listed, going under contract, and ultimately selling. The average selling price for sold properties is higher than the average list price for active properties, which could indicate a slight upward pressure on prices. However, it's important to consider other market factors and consult with a real estate professional for a more in-depth analysis.
Market report for the last 32 days for Kenwood: Fort Walton Beach, FL 32547
Kenwood Real Estate Market Overview
The provided real estate data for Kenwood reveals a dynamic market with insights into active, pending, and sold properties.
Active Listings:
Kenwood currently has 22 active property listings, with an average size of 2,047 square feet.
These active listings have an average price per square foot of $207.96.
The average listing price for these properties is $427,677, with prices ranging from $169,000 to $769,000.
Properties are staying on the market for an average of 117 days before going under contract.
Pending Sales:
There are 8 properties currently pending sale in Kenwood.
The average size of these pending properties is slightly smaller than active listings, at 1,947 square feet.
The average price per square foot for pending sales is $195.60.
These pending properties have an average list price of $376,763, ranging from $199,900 to $445,000.
Pending properties typically go under contract in 94 days.
Recent Sales:
Seven properties have recently been sold in Kenwood.
The average size of these sold properties is 2,025 square feet.
Sold properties achieved an average price per square foot of $228.33.
The average sale price for these properties was $463,971, with a range from $300,000 to $599,000.
Sold properties spent an average of 27 days on the market.
Overall Market Trends:
Combining active, pending, and sold data, a total of 37 properties were analyzed.
The overall average size of properties in Kenwood is 2,021 square feet.
The average price per square foot across all property types is $209.14.
The average list price is $423,535, while the average sold price is $462,571.
Properties in Kenwood generally take an average of 96 days to sell.
Conclusion:
Based on the provided data, the Kenwood real estate market appears to be active, with a consistent flow of properties being listed, going under contract, and ultimately selling. The data suggests a slight premium on sold properties compared to list prices, indicating potential seller's market conditions. However, the average days on market for active listings being higher than pending and sold properties could also imply a balanced market or a slight shift towards a buyer's market.
Understanding the Perception of Real Estate Agents' Roles
In the realm of real estate transactions, the expectations of clients regarding their agents can vary significantly based on generational perspectives. A recent survey revealed intriguing insights into what older generations, specifically those aged 54 and above (Elder Gen X and Boomers), believe to be the primary responsibilities of their real estate agents.
Key Findings from the Survey
The survey results indicate a clear hierarchy of perceived responsibilities among real estate agents:
35% of respondents believe that the primary job of their real estate agent is to advertise and promote their home. This highlights the importance of marketing in attracting potential buyers and suggests that many clients prioritize visibility in the market.
32% feel that the agent's main role is to negotiate with buyers and their agents. This reflects a recognition of the complexities involved in real estate transactions and the value of having a skilled negotiator on their side to secure the best deal.
16% of respondents think that the most critical task is to price their home properly. Accurate pricing is essential for a successful sale, and this statistic underscores the importance of market knowledge and analytical skills in an agent's toolkit.
A smaller percentage, 14%, believe that handling showings and open houses is the agent's top priority. This indicates that while showing homes is important, it may not be viewed as the most crucial aspect of the agent's role.
Finally, 3% of respondents selected other as their answer, suggesting that there may be additional expectations or roles that are not commonly recognized.
Implications for Real Estate Agents
These insights reveal several implications for real estate professionals:
Marketing Focus: Given that a significant portion of clients prioritize advertising, agents may need to enhance their marketing strategies. This could involve leveraging social media, virtual tours, and professional photography to showcase properties effectively.
Negotiation Skills: The emphasis on negotiation highlights the need for agents to be well-versed in negotiation tactics and strategies. Training in this area could be beneficial for agents looking to meet client expectations.
Pricing Expertise: With a notable percentage of clients valuing proper pricing, agents should ensure they are equipped with the latest market data and trends to provide accurate valuations.
Client Education: Agents might consider educating their clients about the various roles they play throughout the transaction process. This could help align expectations and foster a better working relationship.
Conclusion
The survey results provide valuable insights into the expectations of older generations regarding their real estate agents. By understanding these perceptions, agents can tailor their services to meet client needs more effectively, ultimately leading to more successful transactions and satisfied clients. As the real estate landscape continues to evolve, staying attuned to client expectations will be crucial for agents aiming to thrive in a competitive market.
How to Make Your Home Irresistible to Home Buyers
How to Make Your Home Irresistible to Home Buyers
Selling your home can be a daunting task, especially in a competitive real estate market. To attract potential buyers and secure the best possible deal, it’s essential to present your home in the most appealing light. Here are some practical tips to make your home irresistible to home buyers.
1. Boost Curb Appeal
First impressions matter, and the exterior of your home is the first thing buyers will see. Enhance your home’s curb appeal by:
Landscaping: Trim the hedges, mow the lawn, and plant colorful flowers to create an inviting environment.
Paint and Repair: A fresh coat of paint on the front door and any peeling exterior will make your home look well-maintained. Address any repairs, such as broken railings or cracked steps.
Outdoor Living Space: If you have a porch or patio, stage it with comfortable furniture and decor to create an inviting outdoor area.
2. Declutter and Depersonalize
Buyers want to envision themselves living in your home, which can be difficult if it’s cluttered with personal belongings. Here’s how to declutter and depersonalize effectively:
Clear Surfaces: Remove unnecessary items from countertops, shelves, and tables.
Store Personal Items: Pack away family photos and personal memorabilia to help buyers imagine their own lives in the space.
Organize Closets: Buyers will often look in closets, so keep them organized and free of excess items to showcase storage potential.
3. Create a Welcoming Atmosphere
A warm and welcoming atmosphere can make a lasting impression on buyers. Consider these tips to enhance your home’s ambiance:
Lighting: Ensure every room is well-lit. Use a mix of natural light, lamps, and overhead fixtures to create a bright environment.
Temperature: Keep the home at a comfortable temperature during showings. Consider using a neutral scent, like vanilla or citrus, to create a pleasant olfactory experience.
Cleanliness: A spotless home is essential. Consider hiring professional cleaners for a deep clean, focusing on kitchens and bathrooms.
4. Highlight Key Features
Every home has unique features that can attract buyers. Make sure to:
Stage Rooms: Arrange furniture to showcase the layout and flow of each room. Consider hiring a professional home stager for expert advice.
Show Off Upgrades: If you’ve made any upgrades, such as new appliances or energy-efficient windows, make sure they are highlighted in your listing and during showings.
Provide a Virtual Tour: In today’s digital age, a virtual tour can help buyers visualize the space from the comfort of their homes.
5. Make Necessary Repairs
Address any minor repairs that could deter potential buyers. This includes:
Fixing Leaks: Repair any leaky faucets or pipes.
Touching Up Paint: Repaint scuffed walls and touch up baseboards to give a fresh look.
Inspecting Systems: Ensure that HVAC, plumbing, and electrical systems are in good working order. A pre-inspection can identify issues before they become problems during negotiations.
6. Price It Right
Finally, pricing your home competitively is crucial. Research comparable homes in your area and consider consulting a real estate agent for an accurate assessment. Overpricing can lead to longer time on the market, while a well-priced home can create urgency among buyers.
Conclusion
Making your home irresistible to buyers doesn’t have to be overwhelming. Focus on enhancing curb appeal, decluttering, creating a welcoming atmosphere, highlighting key features, making necessary repairs, and pricing your home strategically. With these tips, you’re well on your way to attracting buyers and achieving a successful sale. Happy selling!