Walton County January 2019 by Michele Bailey

Monthly Market Detail - January 2019 Townhouses and Condos Walton County January 2019

January 2018

Percent Change Year-over-Year

-32.4%

-52.8%

Median Sale Price

$363,000

$378,500

-4.1%

Average Sale Price

$410,509

$589,692

-30.4%

$18.9 Million

$40.1 Million

-52.9%

95.2%

93.9%

1.4%

Median Time to Contract

99 Days

84 Days

17.9%

Median Time to Sale

122 Days

145 Days

-15.9%

New Pending Sales

-28.0%

New Listings

126

112

12.5%

Pending Inventory

104

-28.8%

Inventory (Active Listings)

532

508

4.7%

Months Supply of Inventory

6.7

6.6

1.5%

Closed Sales

Percent Change Year-over-Year

46 46 57 62 76 87 86 64 109 91 101 105 68 68

-32.4% -32.4% -36.0% 24.0% 4.1% 33.8% 21.1% -15.8% 9.0% 4.6% 40.3% 12.9% -9.3% 11.5%

Summary Statistics Closed Sales Paid in Cash

Dollar Volume Median Percent of Original List Price Received

Closed Sales

Month

The number of sales transactions which closed during the month Economists' note : Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. When comparing Closed Sales across markets of different sizes, we recommend comparing the percent changes in sales rather than the number of sales. Closed Sales (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month's sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next. 2015

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

2018

Closed Sales

120 100 80 60

40 20 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Produced by Florida Realtors® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, February 21, 2019. Next data release is Thursday, March 21, 2019.

Monthly Market Detail - January 2019 Townhouses and Condos Walton County Month

Cash Sales The number of Closed Sales during the month in which buyers exclusively paid in cash Economists' note : Cash Sales can be a useful indicator of the extent to which investors are participating in the market. Why? Investors are far more likely to have the funds to purchase a home available up front, whereas the typical homebuyer requires a mortgage or some other form of financing. There are, of course, many possible exceptions, so this statistic should be interpreted with care.

2015

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Cash Sales

Percent Change Year-over-Year

17 17 27 31 33 44 37 23 44 34 41 41 38 36

-52.8% -52.8% -20.6% 63.2% 0.0% 120.0% 27.6% -25.8% 12.8% -8.1% 41.4% 10.8% 18.8% 63.6% 2018

Cash Sales

50 40 30 20 10 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Cash Sales as a Percentage of Closed Sales The percentage of Closed Sales during the month which were Cash Sales

Economists' note : This statistic is simply another way of viewing Cash Sales. The remaining percentages of Closed Sales (i.e. those not paid fully in cash) each month involved some sort of financing, such as mortgages, owner/seller financing, assumed loans, etc.

Pct. of Closed Sales Paid in Cash

2015

2016

Month Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Percent of Closed Sales Paid in Cash

Percent Change Year-over-Year

37.0% 37.0% 47.4% 50.0% 43.4% 50.6% 43.0% 35.9% 40.4% 37.4% 40.6% 39.0% 55.9% 52.9%

-30.1% -30.1% 24.1% 31.6% -4.0% 64.3% 5.4% -12.0% 3.6% -12.0% 0.7% -2.0% 30.9% 46.5%

2018

70% 60% 50% 40% 30% 20% 10% 0%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Produced by Florida RealtorsÂŽ with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, February 21, 2019. Next data release is Thursday, March 21, 2019.

Monthly Market Detail - January 2019 Townhouses and Condos Walton County Month

Median Sale Price The median sale price reported for the month (i.e. 50% of sales were above and 50% of sales were below) Economists' note : Median Sale Price is our preferred summary statistic for price activity because, unlike Average Sale Price, Median Sale Price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area. Keep in mind that median price trends over time are not always solely caused by changes in the general value of local real estate. Median sale price only reflects the values of the homes that sold each month, and the mix of the types of homes that sell can change over time.

Median Sale Price

2015

2016

2017

Percent Change Year-over-Year

$363,000 $363,000 $325,500 $332,200 $371,000 $580,000 $377,500 $347,000 $350,000 $330,000 $349,000 $383,000 $385,500 $378,500

-4.1% -4.1% -2.5% 6.3% 19.9% 70.6% 7.9% 9.1% -4.8% -12.5% 10.3% 24.6% 10.1% 32.8%

2018

$700K $600K $500K $400K $300K $200K $100K $0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Month

Average Sale Price The average sale price reported for the month (i.e. total sales in dollars divided by the number of sales) Economists' note : Usually, we prefer Median Sale Price over Average Sale Price as a summary statistic for home prices. However, Average Sale Price does have its usesâ&#x20AC;&#x201D;particularly when it is analyzed alongside the Median Sale Price. For one, the relative difference between the two statistics can provide some insight into the market for higher-end homes in an area.

2015

Average Sale Price

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018

Median Sale Price

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Average Sale Price

Percent Change Year-over-Year

$410,509 $410,509 $418,995 $481,383 $805,283 $1,084,232 $511,647 $496,490 $488,076 $479,364 $437,992 $571,881 $491,416 $589,692

-30.4% -30.4% -14.2% 3.8% 100.4% 103.5% 0.9% 19.6% -3.0% 0.3% 1.0% 42.9% 27.5% 51.3%

2018

$1200K $1000K $800K $600K

$400K $200K $0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Monthly Market Detail - January 2019 Townhouses and Condos Walton County Month

Dollar Volume The sum of the sale prices for all sales which closed during the month Economists' note : Dollar Volume is simply the sum of all sale prices in a given time period, and can quickly be calculated by multiplying Closed Sales by Average Sale Price. It is a strong indicator of the health of the real estate industry in a market, and is of particular interest to real estate professionals, investors, analysts, and government agencies. Potential home sellers and home buyers, on the other hand, will likely be better served by paying attention to trends in the two components of Dollar Volume (i.e. sales and prices) individually. 2015

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Dollar Volume

Percent Change Year-over-Year

$18.9 Million $18.9 Million $23.9 Million $29.8 Million $61.2 Million $94.3 Million $44.0 Million $31.8 Million $53.2 Million $43.6 Million $44.2 Million $60.0 Million $33.4 Million $40.1 Million

-52.9% -52.9% -45.1% 28.7% 108.7% 172.4% 22.3% 0.7% 5.8% 4.9% 41.7% 61.3% 15.6% 68.7%

2018

$100 M

Dollar Volume

$80 M $60 M $40 M $20 M $0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Median Percent of Original List Price Received The median of the sale price (as a percentage of the original list price) across all properties selling during the month Economists' note : The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract on the house. This is usually the last measure to indicate a market has shifted from down to up, so it is what we would call a lagging indicator.

Med. Pct. of Orig. List Price Received

2015

2016

Month Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Med. Pct. of Orig. List Price Received

Percent Change Year-over-Year

95.2% 95.2% 94.5% 94.6% 96.8% 96.2% 94.8% 95.8% 95.8% 96.4% 95.2% 95.3% 94.4% 93.9%

1.4% 1.4% -0.3% -0.3% 3.0% 1.3% -0.4% 0.6% 1.1% 1.2% 1.0% 0.8% -0.8% -1.2%

2018

120% 100% 80% 60%

40% 20% 0%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Monthly Market Detail - January 2019 Townhouses and Condos Walton County Month

Median Time to Contract The median number of days between the listing date and contract date for all Closed Sales during the month Economists' note : Like Time to Sale, Time to Contract is a measure of the length of the home selling process calculated for sales which closed during the month. The difference is that Time to Contract measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale. When the gap between Median Time to Contract and Median Time to Sale grows, it is usually a sign of longer closing times and/or declining numbers of cash sales. 2015

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Median Time to Contract

Percent Change Year-over-Year

99 Days 99 Days 104 Days 81 Days 27 Days 45 Days 90 Days 61 Days 52 Days 46 Days 56 Days 102 Days 92 Days 84 Days

17.9% 17.9% 1.0% -24.3% -69.7% -54.5% 16.9% 3.4% -35.8% 0.0% -63.2% -15.0% 3.4% 52.7%

2018

Median Time to Contract

200 150 100 50 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Month

Median Time to Sale The median number of days between the listing date and closing date for all Closed Sales during the month Economists' note : Time to Sale is a measure of the length of the home selling process, calculated as the number of days between the initial listing of a property and the closing of the sale. Median Time to Sale is the amount of time the "middle" property selling this month was on the market. That is, 50% of homes selling this month took less time to sell, and 50% of homes took more time to sell. Median Time to Sale gives a more accurate picture than Average Time to Sale, which can be skewed upward by small numbers of properties taking an abnormally long time to sell.

Median Time to Sale

2015

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Median Time to Sale

Percent Change Year-over-Year

122 Days 122 Days 139 Days 112 Days 86 Days 161 Days 115 Days 93 Days 92 Days 77 Days 92 Days 135 Days 112 Days 145 Days

-15.9% -15.9% -6.7% -9.7% -31.7% 15.0% -3.4% -11.4% -33.3% -3.8% -52.1% -13.5% -16.4% 52.6%

2018

250 200 150 100 50 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Monthly Market Detail - January 2019 Townhouses and Condos Walton County Month

New Pending Sales The number of listed properties that went under contract during the month Economists' note : Because of the typical length of time it takes for a sale to close, economists consider Pending Sales to be a decent indicator of potential future Closed Sales. It is important to bear in mind, however, that not all Pending Sales will be closed successfully. So, the effectiveness of Pending Sales as a future indicator of Closed Sales is susceptible to changes in market conditions such as the availability of financing for homebuyers and the inventory of distressed properties for sale. 2015

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

New Pending Sales

Percent Change Year-over-Year

67 67 43 73 46 56 83 80 86 96 92 123 89 93

-28.0% -28.0% -21.8% 0.0% -48.9% 21.7% -4.6% 40.4% 2.4% -2.0% 12.2% 15.0% 23.6% -8.8%

2018

140

Pending Sales

120 100 80 60 40 20 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Month

New Listings The number of properties put onto the market during the month Economists' note : New Listings tend to rise in delayed response to increasing prices, so they are often seen as a lagging indicator of market health. As prices rise, potential sellers raise their estimations of valueâ&#x20AC;&#x201D;and in the most recent cycle, rising prices have freed up many potential sellers who were previously underwater on their mortgages. Note that in our calculations, we take care to not include properties that were recently taken off the market and quickly relisted, since these are not really new listings. 2015

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

New Listings

Percent Change Year-over-Year

126 126 50 76 71 91 111 101 87 130 101 174 104 112

12.5% 12.5% -13.8% -11.6% -9.0% 21.3% 14.4% 55.4% -9.4% 23.8% -17.9% 17.6% -5.5% 43.6%

2018

New Listings

200 150 100 50 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Monthly Market Detail - January 2019 Townhouses and Condos Walton County Month

Inventory (Active Listings) The number of property listings active at the end of the month Economists' note : There are a number of ways to define and calculate Inventory. Our method is to simply count the number of active listings on the last day of the month, and hold this number to compare with the same month the following year. Inventory rises when New Listings are outpacing the number of listings that go off-market (regardless of whether they actually sell). Likewise, it falls when New Listings aren't keeping up with the rate at which homes are going off-market.

2015

2016

YTD (Monthly Avg) January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Inventory

Percent Change Year-over-Year

532 532 492 521 532 535 545 542 533 553 528 546 510 508

4.7% 4.7% -3.7% -4.8% -2.6% -7.8% -5.2% -8.8% -11.5% -10.2% -11.7% -9.2% -11.8% -8.0%

2018

700 600

Inventory

500 400 300 200 100 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Month

Months Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates Economists' note : MSI is a useful indicator of market conditions. The benchmark for a balanced market (favoring neither buyer nor seller) is 5.5 months of inventory. Anything higher is traditionally a buyers' market, and anything lower is a sellers' market. There is no single accepted way of calculating MSI. A common method is to divide current Inventory by the most recent month's Closed Sales count, but this count is a usually poor predictor of future Closed Sales due to seasonal cycles. To eliminate seasonal effects, we use the 12-month average of monthly Closed Sales instead.

Months Supply of Inventory

2015

2016

YTD (Monthly Avg) January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Months Supply

Percent Change Year-over-Year

6.7 6.7 6.1 6.2 6.4 6.5 6.7 6.8 6.6 6.9 6.6 7.1 6.7 6.6

1.5% 1.5% -9.0% -16.2% -11.1% -14.5% -13.0% -15.0% -18.5% -17.9% -19.5% -13.4% -18.3% -17.5%

2018

12.0 10.0 8.0 6.0

4.0 2.0 0.0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Monthly Market Detail - January 2019 Townhouses and Condos Walton County

Closed Sales by Sale Price The number of sales transactions which closed during the month Economists' note: Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market. When comparing Closed Sales across markets of different sizes, we recommend comparing the percent changes in sales rather than the number of sales. Closed Sales (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a month's sales to the amount of sales in the same month in the previous year), rather than changes from one month to the next. January 2018

Closed Sales

Percent Change Year-over-Year

Less than $50,000

N/A

$50,000 - $99,999

-100.0%

$100,000 - $149,999

-33.3%

$150,000 - $199,999

40.0%

$200,000 - $249,999

0.0%

$250,000 - $299,999

-54.5%

$300,000 - $399,999

-25.0%

$400,000 - $599,999

-7.7%

$600,000 - $999,999

0.0%

$1,000,000 or more

-84.6%

Sale Price

January 2019

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

The median number of days between the listing date and contract date for all Closed Sales during the month

Median Time to Contract

Economists' note : Like Time to Sale, Time to Contract is a measure of the length of the home selling process calculated for sales which closed during the month. The difference is that Time to Contract measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale. When the gap between Median Time to Contract and Median Time to Sale grows, it is usually a sign of longer closing times and/or declining numbers of cash sales. January 2018

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more Median Time to Contract

Percent Change Year-over-Year

Less than $50,000

(No Sales)

N/A

$50,000 - $99,999

(No Sales)

N/A

$100,000 - $149,999

3 Days

-40.0%

$150,000 - $199,999

146 Days

143.3%

$200,000 - $249,999

141 Days

-32.9%

$250,000 - $299,999

158 Days

285.4%

$300,000 - $399,999

176 Days

50.4%

$400,000 - $599,999

30 Days

-49.2%

$600,000 - $999,999

211 Days

30.2%

$1,000,000 or more

592 Days

572.7%

Sale Price

Median Time to Contract by Sale Price

700

$300,000 $399,999

January 2019

700

600

500

400

300

200

100

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Monthly Market Detail - January 2019 Townhouses and Condos Walton County

New Listings by Initial Listing Price The number of properties put onto the market during the month Economists' note: New Listings tend to rise in delayed response to increasing prices, so they are often seen as a lagging indicator of market health. As prices rise, potential sellers raise their estimations of valueâ&#x20AC;&#x201D;and in the most recent cycle, rising prices have freed up many potential sellers who were previously underwater on their mortgages. Note that in our calculations, we take care to not include properties that were recently taken off the market and quickly relisted, since these are not really new listings.

New Listings

January 2018

Initial Listing Price

New Listings

Percent Change Year-over-Year

Less than $50,000

N/A

$50,000 - $99,999

N/A

$100,000 - $149,999

0.0%

$150,000 - $199,999

-60.0%

$200,000 - $249,999

-11.8%

$250,000 - $299,999

66.7%

$300,000 - $399,999

36.4%

$400,000 - $599,999

20.8%

$600,000 - $999,999

0.0%

$1,000,000 or more

88.9%

January 2019

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

The number of property listings active at the end of the month Economists' note : There are a number of ways to define and calculate Inventory. Our method is to simply count the number of active listings on the last day of the month, and hold this number to compare with the same month the following year. Inventory rises when New Listings are outpacing the number of listings that go off-market (regardless of whether they actually sell). Likewise, it falls when New Listings aren't keeping up with the rate at which homes are going off-market. January 2018

Inventory

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Inventory

Percent Change Year-over-Year

Less than $50,000

N/A

$50,000 - $99,999

N/A

$100,000 - $149,999

130.8%

$150,000 - $199,999

-20.6%

$200,000 - $249,999

-11.3%

$250,000 - $299,999

17.2%

$300,000 - $399,999

106

-0.9%

$400,000 - $599,999

105

22.1%

$600,000 - $999,999

-5.3%

$1,000,000 or more

11.1%

Current Listing Price

Inventory by Current Listing Price

120

$300,000 $399,999

January 2019

120

100

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Monthly Distressed Market - January 2019 Townhouses and Condos Walton County

Closed Sales

January 2019

January 2018

Percent Change Year-over-Year

-32.8%

$365,000

$375,000

-2.7%

-100.0%

(No Sales)

$524,900

N/A

$152,900

(No Sales)

N/A

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2015

2016

Traditional

2017

Foreclosure/REO

2018

Short Sale

100% 90%

Closed Sales

80% 70% 60% 50% 40% 30% 20% 10% 0% J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J $1400K

$1200K

Median Sale Price

$1000K $800K $600K $400K $200K $0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

2015

2016

2017

2018

Monthly Market Detail - January 2019 Single Family Homes Walton County January 2019

January 2018

Percent Change Year-over-Year

191

164

16.5%

39.5%

Median Sale Price

$404,050

$401,802

0.6%

Average Sale Price

$547,993

$703,525

-22.1%

$104.7 Million

$115.4 Million

-9.3%

97.4%

96.7%

0.7%

Median Time to Contract

84 Days

56 Days

50.0%

Median Time to Sale

144 Days

152 Days

-5.3%

New Pending Sales

210

236

-11.0%

New Listings

275

304

-9.5%

Pending Inventory

433

464

-6.7%

Inventory (Active Listings)

1,268

1,236

2.6%

Months Supply of Inventory

5.7

0.0%

Closed Sales

Percent Change Year-over-Year

191 191 200 209 194 227 215 249 252 291 232 252 180 164

16.5% 16.5% -4.8% 18.8% 2.1% 10.7% -14.0% 0.8% -10.3% 8.6% 17.2% -2.3% 16.1% 15.5%

Summary Statistics Closed Sales Paid in Cash

Dollar Volume Median Percent of Original List Price Received

Closed Sales

Month

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

2018

350

Closed Sales

300 250 200 150 100 50 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Monthly Market Detail - January 2019 Single Family Homes Walton County Month

2015

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Cash Sales

Percent Change Year-over-Year

53 53 37 54 53 43 51 64 59 76 52 65 53 38

39.5% 39.5% -5.1% -1.8% -1.9% 2.4% -29.2% 30.6% -19.2% -2.6% -11.9% -5.8% 23.3% 0.0% 2018

100

Cash Sales

80 60 40 20 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Cash Sales as a Percentage of Closed Sales The percentage of Closed Sales during the month which were Cash Sales

Pct. of Closed Sales Paid in Cash

2015

2016

Month Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Percent of Closed Sales Paid in Cash

Percent Change Year-over-Year

27.7% 27.7% 18.5% 25.8% 27.3% 18.9% 23.7% 25.7% 23.4% 26.1% 22.4% 25.8% 29.4% 23.2%

19.4% 19.4% -0.5% -17.6% -3.9% -7.8% -17.7% 29.8% -10.0% -10.3% -24.8% -3.4% 6.1% -13.4%

2018

40% 30% 20% 10% 0%

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Monthly Market Detail - January 2019 Single Family Homes Walton County Month

Median Sale Price

2015

2016

2017

Percent Change Year-over-Year

$404,050 $404,050 $415,500 $478,389 $423,250 $395,390 $459,900 $399,900 $419,000 $467,055 $450,000 $432,500 $400,000 $401,802

0.6% 0.6% -9.2% 6.2% -5.0% -10.1% 5.7% -9.8% 1.0% 17.1% 8.8% -3.0% -4.8% 5.5%

2018

$600K $500K $400K $300K $200K $100K $0K

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Month

2015

Average Sale Price

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018

Median Sale Price

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Average Sale Price

Percent Change Year-over-Year

$547,993 $547,993 $588,585 $717,177 $830,938 $627,109 $673,672 $734,890 $743,362 $683,665 $758,398 $685,631 $654,193 $703,525

-22.1% -22.1% -9.3% 11.1% 24.5% -17.0% -14.9% -6.8% 4.1% 1.5% -3.5% -5.5% -11.4% 18.2%

2018

$1000K $800K $600K $400K $200K $0K

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Monthly Market Detail - January 2019 Single Family Homes Walton County Month

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Dollar Volume

Percent Change Year-over-Year

$104.7 Million $104.7 Million $117.7 Million $149.9 Million $161.2 Million $142.4 Million $144.8 Million $183.0 Million $187.3 Million $198.9 Million $175.9 Million $172.8 Million $117.8 Million $115.4 Million

-9.3% -9.3% -13.6% 31.9% 27.1% -8.1% -26.8% -6.1% -6.6% 10.2% 13.1% -7.7% 2.9% 36.5%

2018

$250 M

Dollar Volume

$200 M $150 M $100 M $50 M $0

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Med. Pct. of Orig. List Price Received

2015

2016

Month Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Med. Pct. of Orig. List Price Received

Percent Change Year-over-Year

97.4% 97.4% 97.8% 96.7% 95.4% 97.2% 96.0% 96.1% 96.8% 97.5% 96.8% 96.9% 96.8% 96.7%

0.7% 0.7% 1.2% 1.2% -1.5% -0.3% -0.3% -0.9% -0.4% 1.8% 0.2% 0.9% -0.4% 1.2%

2018

120% 100% 80% 60%

40% 20% 0%

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Monthly Market Detail - January 2019 Single Family Homes Walton County Month

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Median Time to Contract

Percent Change Year-over-Year

84 Days 84 Days 80 Days 74 Days 69 Days 75 Days 55 Days 62 Days 62 Days 57 Days 67 Days 72 Days 79 Days 56 Days

50.0% 50.0% -14.9% -20.4% -5.5% 8.7% -19.1% -13.9% -16.2% -26.9% -39.6% -35.1% 2.6% -42.9%

2018

Median Time to Contract

200 150 100 50 0

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Month

Median Time to Sale

2015

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Median Time to Sale

Percent Change Year-over-Year

144 Days 144 Days 149 Days 128 Days 127 Days 155 Days 116 Days 112 Days 117 Days 121 Days 140 Days 128 Days 152 Days 152 Days

-5.3% -5.3% -6.9% -23.4% -17.0% 7.6% -5.7% -15.8% -28.7% -11.0% -17.2% -28.9% 2.0% -16.0%

2018

250 200 150 100 50 0

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Monthly Market Detail - January 2019 Single Family Homes Walton County Month

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

New Pending Sales

Percent Change Year-over-Year

210 210 182 201 213 220 246 232 269 279 292 303 248 236

-11.0% -11.0% 19.7% -6.1% 2.9% 14.6% 9.3% -4.9% -2.5% 9.0% 16.8% 6.3% -11.7% 16.3%

2018

350

Pending Sales

300 250 200 150 100 50 0

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Month

2016

Year-to-Date January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

New Listings

Percent Change Year-over-Year

275 275 184 260 244 294 287 279 287 375 368 364 329 304

-9.5% -9.5% -7.5% 15.0% -9.6% 39.3% 4.0% 8.6% 1.4% 19.8% 23.9% -1.9% 4.4% 23.6%

2018

New Listings

400 300 200 100 0

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

Monthly Market Detail - January 2019 Single Family Homes Walton County Month

2015

2016

YTD (Monthly Avg) January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Inventory

Percent Change Year-over-Year

1,268 1,268 1,249 1,305 1,307 1,369 1,373 1,364 1,395 1,435 1,380 1,345 1,298 1,236

2.6% 2.6% 2.3% 3.5% 0.1% 3.8% 0.4% -1.5% -1.8% -2.4% -5.3% -6.0% -6.7% -11.0%

2018

2,000

Inventory

1,500 1,000 500 0

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Month

Months Supply of Inventory

2015

2016

YTD (Monthly Avg) January 2019 December 2018 November 2018 October 2018 September 2018 August 2018 July 2018 June 2018 May 2018 April 2018 March 2018 February 2018 January 2018 2017

Months Supply

Percent Change Year-over-Year

5.7 5.7 5.6 5.9 5.9 6.2 6.3 6.2 6.3 6.4 6.2 6.2 5.9 5.7

0.0% 0.0% -1.8% 0.0% -3.3% 0.0% -1.6% -4.6% -7.4% -9.9% -12.7% -11.4% -14.5% -17.4%

2018

10.0 8.0 6.0 4.0 2.0 0.0

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Monthly Market Detail - January 2019 Single Family Homes Walton County

Closed Sales

Percent Change Year-over-Year

Less than $50,000

-50.0%

$50,000 - $99,999

33.3%

$100,000 - $149,999

60.0%

$150,000 - $199,999

-20.0%

$200,000 - $249,999

25.0%

$250,000 - $299,999

-18.2%

$300,000 - $399,999

37.0%

$400,000 - $599,999

43.2%

$600,000 - $999,999

43.5%

$1,000,000 or more

-39.1%

Sale Price

January 2019

0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

The median number of days between the listing date and contract date for all Closed Sales during the month

Median Time to Contract

Less than $50,000

$50,000 $99,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more Median Time to Contract

Percent Change Year-over-Year

Less than $50,000

160 Days

-63.6%

$50,000 - $99,999

106 Days

2550.0%

$100,000 - $149,999

78 Days

50.0%

$150,000 - $199,999

43 Days

115.0%

$200,000 - $249,999

51 Days

-52.3%

$250,000 - $299,999

87 Days

7.4%

$300,000 - $399,999

84 Days

78.7%

$400,000 - $599,999

84 Days

31.3%

$600,000 - $999,999

168 Days

12.8%

$1,000,000 or more

188 Days

108.9%

Sale Price

Median Time to Contract by Sale Price

500 450 400 350 300 250 200 150 100 50 0

$300,000 $399,999

January 2019

$100,000 $149,999

$150,000 $199,999

500 450 400 350 300 250 200 150 100 50 0 $200,000 $249,999

$250,000 $299,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Monthly Market Detail - January 2019 Single Family Homes Walton County

New Listings

January 2018

New Listings

Percent Change Year-over-Year

Less than $50,000

N/A

$50,000 - $99,999

-40.0%

$100,000 - $149,999

-50.0%

$150,000 - $199,999

0.0%

$200,000 - $249,999

15.0%

$250,000 - $299,999

29.4%

$300,000 - $399,999

-45.3%

$400,000 - $599,999

-39.2%

$600,000 - $999,999

9.8%

$1,000,000 or more

57.1%

January 2019

90 80 70 60 50 40 30 20 10 0

90 80 70 60 50 40 30 20 10 0 Less than $50,000

$50,000 $99,999

$100,000 $149,999

$150,000 $199,999

$200,000 $249,999

$250,000 $299,999

450 400 350 300 250 200 150 100 50 0 Less than $50,000

$50,000 $99,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Inventory

Percent Change Year-over-Year

Less than $50,000

-33.3%

$50,000 - $99,999

-26.3%

$100,000 - $149,999

-7.7%

$150,000 - $199,999

10.3%

$200,000 - $249,999

34.9%

$250,000 - $299,999

19.6%

$300,000 - $399,999

150

-21.9%

$400,000 - $599,999

231

-11.2%

$600,000 - $999,999

269

1.1%

$1,000,000 or more

427

23.1%

Current Listing Price

Inventory by Current Listing Price

Inventory

Initial Listing Price

January 2019

$100,000 $149,999

$150,000 $199,999

450 400 350 300 250 200 150 100 50 0 $200,000 $249,999

$250,000 $299,999

$300,000 $399,999

$400,000 $599,999

$600,000 - $1,000,000 or $999,999 more

Monthly Distressed Market - January 2019 Single Family Homes Walton County

Closed Sales

January 2019

January 2018

Percent Change Year-over-Year

186

160

16.3%

$407,098

$404,155

0.7%

150.0%

$107,500

$180,000

-40.3%

-100.0%

(No Sales)

$439,950

N/A

Traditional Median Sale Price Closed Sales Foreclosure/REO Median Sale Price Closed Sales Short Sale Median Sale Price

2015

2016

Traditional

2017

Foreclosure/REO

2018

Short Sale

100%

Closed Sales

95%

90%

85%

80%

75% J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J $1400K

$1200K

Median Sale Price

$1000K $800K $600K $400K $200K $0K

J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J

2015

2016

2017

2018