Real Estate Transactions
This section covers the number of real estates transactions by type and by county and the dollar value of these transactions.
Single Family Homes Sold
Single Family homes are housing units defined as a fully detached, semidetached, row houses or townhomes. Most of the single-family homes in the region were purchased by Escambia County. Though the bulk of the houses were purchased in Escambia, Walton County had disproportionately higher costs than the other comparable within the region.
Considering Walton had the least number of single-family home sales, the high cost estimate could be attributed to the expensive real estate around areas like Seaside, Seacrest and Rosemary Beach.
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Number of Real Estate Transactions by Type
Types of real estate sold includes single family homes, condos, mobile homes and much more. In 2020, single family homes had the largest number of transactions across all Northwest Florida counties with Escambia County having the most at 7,402 transactions. The number of transactions could be higher due to lower housing expense, as Escambia has the second lowest dollar value of real estate transactions at $376M.
In 2020, Santa Rosa had the most "new sales single family homes" pointing at the area potentially having more recent development in real estate, specifically new neighborhoods.
Escambia and Bay counties had the most commercial improvements. Commercial Improvements are any structure of building to a site that is not used or intended to be used as a residential building. Bay County is still recovering from Hurricane Michael that devastated the area in 2018, so the expense in commercial improvements makes sense. Escambia County's high number of commercial improvements could be a general sign of positive business development in the area.
All of these trends are consistent thus far in 2021.
Source: All of our real estate data comes from Metro Market Trends.
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