2024 Q1 Real Estate Stats for Walton County and Bay County

I hope this message finds you well. Here's a quick update on the 2024 First Quarter real estate market trends for Bay and Walton Counties, when compared to the same period last year, 2023 First Quarter Statistics, and be prepared, it's a remarkable shift...

Let's start with Bay County Q1 2024 Stats

Listings: Active listings surged by 46%, with new listings up by 37%.

Sales: Transactions decreased with 17% fewer properties sold and a 19% drop in sales volume.

Prices: Average sale price slightly down by 2%; median sale price also decreased by 1%.

Bay County Market Data by Areas:

**Central & Beach Areas:** Increased inventory but lower sales, suggesting potential oversupply.

**North & East Areas:** More listings and stable or increasing property values, though fewer transactions overall.

Now onto the Walton County Q1 2024 Stats:

Listings: Active and new listings both increased significantly, by 61% and 60% respectively.

Sales: A decline in sales activity, with 14% fewer properties sold and a 17% decrease in sales volume.

Prices: Average sale price dipped by 4%, with a notable 11% reduction in median sale price.

Walton County Market Data by Areas:

**30A East & Miramar/Sandestin Resort:** Greater availability of properties but less turnover.

 **30A West & North Santa Rosa Beach:** Despite fewer sales, property values are on the rise.

Both counties have seen a notable rise in property listings, offering buyers more options. However, a decrease in transactions and pricing adjustments suggest a shift to buyer-friendly conditions, particularly in Bay County's Beach and East regions. In Walton County, the market dynamics vary. While listings have increased similarly to Bay County, differences exist across regions. In areas like 30A East and Miramar/Sandestin Resort, more listings may slow turnover rates, while 30A West and North Santa Rosa Beach show rising property values despite fewer transactions.

As always, reach out to me anytime if there's anything I can do to help you. Call or text Rachel Warrell 850-896-5899.