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Publication: DailyNews; Date:  Sep 23, 2007; Section:  Real Estate; Page: 41

July existing housing sales for Northwest Florida outperform state

Special to the Daily News



    The local real estate market is faring much better than the state as a whole, according to figures from the Florida Association of Realtors.

    Although sales of existing single-family homes were down by 24 percent across the state in July 2007 as compared to the same period last year, the Fort Walton Beach area didn’t experience a drop.

    Pensacola sales figures were off only 1 percent, while Panama City experienced an 11 percent decline, still far below the sales drop reported for the state as a whole.

    Meanwhile, sales prices of condominiums in Northwest Florida increased in July of this year over last, rising 2 percent in Fort Walton Beach, and a whopping 73 percent in Pensacola. By comparison, the state as a whole experienced a drop of 7 percent in median sales price.

    Median sales prices for houses in Fort Walton Beach fell by 6 percent, compared to a range of 1 percent to 21 percent for markets in other areas that experienced a drop.

    But if the news for the single-family home market was good, the news for the condo market was even better.

    While the state overall experienced a 19 percent drop in sales of existing condominiums in July of this year as compared to last year, and by 26 percent for the year-to-date, sales in the local area actually jumped by a whopping 41 percent and 49 percent respectively in those same time periods.

Source: Emerald Coast Association of Realtors