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RESEARCH DATA: COMMERCIAL,VACANT LAND, & RESIDENTIAL PROPERTIES. Pete Smith, CFA Okaloosa County Property Appraiser. COMMERCIAL. LOCATION OF SALES (2008 VS. 2009). VACANT LAND & SUBDIVIDED LOTS. VACANT LAND/SUBDIVIDED LOT SALE LOCATIONS. 2009 RESIDENTIAL VACANT LAND AND LOT SUMMARY. - PowerPoint PPT Presentation
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Pete Smith, CFA Okaloosa County Property Appraiser
RESEARCH DATA: COMMERCIAL,VACANT LAND, & RESIDENTIAL
PROPERTIES
COMMERCIAL COMMERCIAL
9%12%
27%
52%
8% 10%
35%
48%
0%
10%
20%
30%
40%
50%
60%
Niceville Destin Crestview Fort Walton Beach
2008 2009
LOCATION OF SALES (2008 VS. 2009)
VACANT LAND & SUBDIVIDED VACANT LAND & SUBDIVIDED LOTS LOTS
VACANT LAND/SUBDIVIDED LOT VACANT LAND/SUBDIVIDED LOT
SALE LOCATIONSSALE LOCATIONS
10%
22%
57%
11%
37%
25% 23%
16%
0%
10%
20%
30%
40%
50%
60%
Niceville Destin Crestview Fort Walton Beach
2008 2009
2009 2009 RESIDENTIAL VACANT LAND RESIDENTIAL VACANT LAND
AND LOT SUMMARYAND LOT SUMMARY
Listing VolumeListing Volume -33%-33% Sales VolumeSales Volume -3%-3% Average List PriceAverage List Price +14% +14% Average Sales Price Average Sales Price ((148 Qualified Sales) -9%-9% Sales Price as a percent of List PriceSales Price as a percent of List Price +85% +85% Days on Market (262 Days Avg.)Days on Market (262 Days Avg.) -34% -34%
CONDOMINIUMSCONDOMINIUMS
AREAS OF STUDYAREAS OF STUDY DestinDestin
Fort Walton Beach Fort Walton Beach Niceville/ValparaisoNiceville/Valparaiso
Listing VolumeListing Volume -4% -4% Sales VolumeSales Volume - -
6%6% Average List PriceAverage List Price +3%+3% Average Sales Price Average Sales Price (476 Qualified Sales) (476 Qualified Sales) -21%-21% Sales Price as a percent of List PriceSales Price as a percent of List Price +92% +92% Days on Market (222 Days Avg.)Days on Market (222 Days Avg.) +5% +5%
2008 - 2009 CONDO SUMMARY2008 - 2009 CONDO SUMMARY
RESIDENTIALRESIDENTIAL
Includes:Includes:
Single Family DetachedSingle Family DetachedSingle Family AttachedSingle Family AttachedManufactured HomesManufactured HomesCondosCondos
SINGLE FAMILY RESIDENTIALSINGLE FAMILY RESIDENTIAL
New ListingsNew Listings (%) Difference(%) Difference
20042004 39413941 N/AN/A
20052005 54755475 +39%+39%
20062006 60676067 +11%+11%
20072007 52315231 -14%-14%
20082008 42354235 -19%-19%
20092009 45784578 +8%+8%
YearYear TransactionsTransactions Diff.Diff. %%
20042004 38723872 N/AN/A N/AN/A
20052005 36463646 -226-226 -6%-6%
20062006 29372937 -709-709 -20%-20%
20072007 24752475 -462-462 -16%-16%
2008200820092009
1803180319271927
-672-672+124+124
-27%-27%+7%+7%
2008 = 150 sales per 2008 = 150 sales per monthmonth2009 = 190 sales per 2009 = 190 sales per monthmonth
SINGLE FAMILY RESIDENTIAL SINGLE FAMILY RESIDENTIAL TRANSACTIONSTRANSACTIONS
21%
12%
33% 34%
21%
15%
34%30%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Niceville Destin Crestview Fort Walton Beach
2008 2009
LOCATION OF SALES
(2008 VS. 2009)
2004
$244,868
2005
$321,141
2006
$335,336
2007
$305,263
2008
$267,665
2009
$303,955
0
50000
100000
150000
200000
250000
300000
350000
1 2 3 4 5 6
AVERAGE LIST PRICE SINGLE FAMILY RESIDENTIAL
PROPERTIES
2004
$239,165
2005
$226,147
2006
$319,601
2007
$286,079
2008
$249,453
2009
$219,519
0
50000
100000
150000
200000
250000
300000
350000
1 2 3 4 5 6
AVERAGE SALES PRICE SINGLE FAMILY RESIDENTIAL
PROPERTIES
45
93
133140 132
0
20
40
60
80
100
120
140
Year 2005 Year 2006 Year 2007 Year 2008 Year 2009
AVERAGE DAYS ON THE MARKETALL RESIDENTIAL PROPERTIES
Listing VolumeListing Volume -14% -14% Average List PriceAverage List Price +18% +18% Average Sales PriceAverage Sales Price - -
12%12% Sales Price as a percent of List Price +94%Sales Price as a percent of List Price +94% Days on Market (132 Days Avg.)Days on Market (132 Days Avg.) - 8% - 8%
2009 SINGLE FAMILY 2009 SINGLE FAMILY RESIDENTIAL SUMMARYRESIDENTIAL SUMMARY
SUMMARYSUMMARY
Total 2008 Qualified Residential Sales Transactions: 1803Total 2008 Qualified Residential Sales Transactions: 1803
Total 2009 Qualified Residential Sales Transactions: 2281Total 2009 Qualified Residential Sales Transactions: 2281
2008: 1803 / 12 Months = 150 Sales Per Month2008: 1803 / 12 Months = 150 Sales Per Month
2009: 2281 / 12 Months = 190 Sales Per Month2009: 2281 / 12 Months = 190 Sales Per Month
Our goal is to provide the citizens of Our goal is to provide the citizens of Okaloosa County with fair and equitable Okaloosa County with fair and equitable assessments and outstanding customer assessments and outstanding customer service. Your comments and suggestions service. Your comments and suggestions as to how we might improve these efforts as to how we might improve these efforts are always welcomed. are always welcomed.
Pete Smith, CFA Pete Smith, CFA Okaloosa County Okaloosa County Property AppraiserProperty Appraiser propertyappraiser@okaloosapa.compropertyappraiser@okaloosapa.com (850) 651-7240 (850) 651-7240
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