Fort Walton Beach-area home prices fall 2.5% in August, with houses for sale in high demand
A typical Okaloosa County home listed for $486,389 in August, down 2.5% from the previous month's $499,000, an analysis of data from Realtor.com shows.
The median list home price in August was up about 21.6% from August 2021. Okaloosa County's median home was 1,867 square feet for a listed price of $261 per square foot.
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The Okaloosa County market was busy, with a median 50 days on market. A month earlier, homes had a median 42 days on market. The market added 552 new home listings in August, compared with the 444 added in August 2021. The market ended the month with some 1,128 listings of homes for sale.
The median home prices issued by Realtor.com may exclude much, or even most, of a market's homes. The price and volume represent only homes that are single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.
Walton County home prices drop 5.8% to $1,020,000
Walton County's home prices fell 5.8%, to a median $1,020,000, from a month earlier. The typical house was on the market for 57 days, from 43 days a month earlier. The typical 2,103-square-foot house had a list price of $587 per square foot.
Across metro Destin, median home prices fell to $617,000, down 2.1% from a month earlier. The median home had 1,955 square feet, at a list price of $419 per square foot.
Across all of Florida, median home prices were $477,000, falling 1.7% from a month earlier. The median Florida home for sale had 1,740 square feet at list price of $271 per square foot.
Across the United States, median home prices were $435,050, down 3.1% from a month earlier. The median American home for sale had 1,890 square feet, listed at $222 per square foot.
The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. The story was written by Mike Stucka and Sean Lahman.
This article originally appeared on Northwest Florida Daily News: Fort Walton Beach-area homes for sale drop to $486,389 median price
