The last time this blog posted and analyzed statistics for homes sold results were displayed for May of 2009. The latest results can be read on the blog for Josh McLean Homes, which has the statistics for the homes sold in July 2009.

In looking at these graphs, the average price for a home sold on the Emerald Coast (the 30A area and surrounding Emerald Coast towns in this case), has stayed relatively the same from January until July. Although, according to the graphs, the average home price has dipped slightly, the gap between home prices is significantly smaller than a few years ago, with results from 2005 through 2007 showing a large disparity in the prices offered on homes on the Emerald Coast.

But what about the amount of homes sold? Recent statistics overall for the Emerald Coast area actually indicate that homes sold have gone up 51 units since the start of 2009. Although properties like foreclosures and short sales are factored into this (and this is also why the overall prices are lower than from three years ago), recent months show an increase in the amount of properties being sold through Josh McLean homes. In fact, by looking at the lowest graph, 2009 has experienced the largest amount of homes sold in comparison to the past two years when the foreclosure crisis became evident.

In the same direction as the previous post, is the real estate market in Destin preparing for an upswing? With the amount of properties sold and the prices, a steady increase through the rest of the year should be inevitable. In addition, another recent article published about Destin real estate indicates that many are moving to the area as Destin and other Emerald Coast towns are desirable and the prices are now more affordable for a single-family home.

Home values in South Walton and the rest of the Emerald Coast reflect the trends seen across the country. As seen with the past post detailing average home sales and prices for the month of May from 2000 to 2009, 2009 has seen a slight increase in comparison to the period from 2006 to 2008, in which homes sold – and prices – plummeted. But, is this brief increase from the first half of 2009 really anything to get excited about on the Emerald Coast? After all, it seems, many are coming to the area to rent but not to buy a home.

In a recent article published about home sales in South Walton, FL the writer finds that more homes are being sold around Walton county, as well as other areas of the Emerald Coast, and this is helped by low interest rates and the first-time homebuyers’ tax credit of up to $8,000. But, some realtors quoted in the article think that the real estate market, overall and South Walton included, has just simply hit the bottom and is just “bumping around” at the bottom. Nevertheless, statistics quoted in the article show that there’s an increase in people, particularly retired military, looking for homes in South Walton.

Of course, an increase in purchases also reflects the lower prices of the homes, due to the foreclosure crisis, and homes that are up for foreclosure or short sale that are being sold at lower prices. The Emerald Coast has its share of foreclosures and short sale homes and condos, some of which are 60-percent of the price from three years ago, and purchasing a home is more reasonable. But, is this recent upswing in sold properties an indication that the real estate market will be going up and recovering itself? Although the graphs from the last post indicate that it may be picking up from 2004, the time period of six months is too short to tell.