Fort Walton Beach, FL 32548 housing market

What this means

• Valuation. Prices are 43% above what local incomes have historically supported (this area's pre-2020 price-to-income ratio).
• Prices. Home values are up 1.4% over the past year (U.S.: +1.2%), but still 7% below their 2022-23 peak.
• Supply. There are 43% more homes for sale than the 2017-19 norm, so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (98/100; U.S.: 54): homes sell for about 3.4% below their final list price; 24% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 41% of the median household income (U.S.: 35%); it takes about $88k a year to keep the payment at 30% of gross pay. That includes about $3,845 a year for home insurance (U.S.: $1,790).
• Buy vs. rent. Buying costs about $395/mo more than renting a typical home (mortgage payment vs. typical rent).
• Disaster risk. FEMA expects about $250 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from hurricanes. Check insurance costs before buying.
• Outlook. No clear direction: likely −8% to +8% over the next 12 months (60% chance of a rise).

Next 12 months

No clear direction

A rise is somewhat more likely than a fall, but not by enough to call. Likely change: −7.9% to +8.4% (80% range; middle estimate +1.4%), chance of a rise 60%, of a 5%+ drop 17%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

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