A seller's market: Median homes prices are up 11.5% in Okaloosa and 27.7% in Walton

Sean Lahman
USA TODAY NETWORK

The median sales price for a single-family home in Okaloosa County during July was $320,000. That's an increase of 11.5% compared with July 2020, according to data from Realtor.com

The number of houses sold fell by 1.8% from a year earlier. A total of 484 houses were sold county-wide during the month of July. During the same period a year earlier, 493 single-family homes were sold.

Condominiums and town homes sold in July had a median sales price of $280,000, similar to a year earlier. In Okaloosa County, 177 were sold, up 16.4% from a year earlier.

Demand for houses is driving up prices in much of the United States, including this home for sale pictured in Jacksonville, Florida.

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Real estate sales can take weeks or months to be recorded and collected. This is the latest data made available through Realtor.com to the USA TODAY Network.

Walton County

In Walton County, the median sales price for a single-family home in Walton County during July was $530,000. That's an increase of 27.7% compared with July 2020.

The number of houses sold fell by 18.4% from a year earlier. A total of 390 houses were sold county-wide during the month of July. During the same period a year earlier, 478 single-family homes were sold.

Condominiums and town homes sold in July had a median sales price of $450,000. That figure represents a 16.9% increase year-over-year. In Walton County, 152 were sold, down 20.4% from a year earlier.

How hot is Okaloosa County's real estate market in Florida?

Information on your local housing markets is available through the USA TODAY Network, with more data from Realtor.com.

In Okaloosa County, the top 10% of the properties sold had prices of at least $635,000, up 3.2% from a year before. In July, 18 properties sold for $1 million or more: nine single-family homes, seven condominiums or townhomes and two other properties.

The top 10% of the properties sold in Walton County had prices of at least $1.725 million, up 35.3% from a year before. In July, 132 properties sold for $1 million or more: 96 single-family homes, 17 condominiums or townhomes and 19 other properties.

The median home sale price — the midway point of all the houses or units sold over a period of time — is used in this report instead of the average home sale 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 sold 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 Realtor.com.The story was written by Sean Lahman.