Condo sales increase in Florida

DESTIN — There might be a light at the end of the real estate tunnel for the Emerald Coast.

The Florida Association of Realtors released numbers for September that show sales of existing condominiums in the Fort Walton Beach area had the highest increase in Florida compared to September 2006.

While existing condo sales across the state fell, sales for the Emerald Coast Association of Realtors jumped 22 percent. The median price for those condos increased from $157,500 to $338,900, or 115 percent, according to the report.

The state figures were gathered from sales reported from local Realtor associations, according to Florida Association of Realtors.

It’s easy for Harry Millsaps, president of the Emerald Coast Association Realtors and a Realtor with Prudential Coastal Properties, to figure out why condos have been selling locally.

“Obviously, we’re special. We’ve got the most beautiful beaches in Florida,” he said.

The market is primed for an upswing, Millsap’s added. Property and condo prices have bottomed out and buyers are ready to get a deal, he said. The beaches contributed to the sales increase, but the local association also gave the stretch from Navarre to Bay County a marketing nudge.

“The Emerald Coast Association of Realtors has done a lot of advertising on radio and in print and on TV,” Millsaps said.

The increase will run into the first quarter of next year, but will really take off in the spring and summer, he said.

Although local sales are up for September, they are a far cry from where they were a few years ago, officials said.

Source : http://www.nwfdailynews.com/