Pete Smith, CFA Okaloosa County Property Appraiser

RESEARCH DATA: COMMERCIAL,VACANT LAND, & RESIDENTIAL

PROPERTIES

COMMERCIAL COMMERCIAL

9% 12%

27%

52%

8% 10%

35%

48%

0%

10%

20%

30%

40%

50%

60%

Niceville Destin Crestview Fort Walton Beach

2008 2009

LOCATION OF SALES (2008 VS. 2009)

VACANT LAND & SUBDIVIDED VACANT LAND & SUBDIVIDED LOTS LOTS

VACANT LAND/SUBDIVIDED LOT VACANT LAND/SUBDIVIDED LOT

SALE LOCATIONSSALE LOCATIONS

10%

22%

57%

11%

37%

25% 23%

16%

0%

10%

20%

30%

40%

50%

60%

Niceville Destin Crestview Fort Walton Beach

2008 2009

2009 2009 RESIDENTIAL VACANT LAND RESIDENTIAL VACANT LAND

AND LOT SUMMARYAND LOT SUMMARY Listing VolumeListing Volume -33%-33% Sales VolumeSales Volume -3%-3% Average List PriceAverage List Price +14% +14% Average Sales Price Average Sales Price ((148 Qualified Sales) -9%-9% Sales Price as a percent of List PriceSales Price as a percent of List Price +85% +85% Days on Market (262 Days Avg.)Days on Market (262 Days Avg.) -34% -34%

CONDOMINIUMSCONDOMINIUMS

AREAS OF STUDYAREAS OF STUDY DestinDestin

Fort Walton Beach Fort Walton Beach Niceville/ValparaisoNiceville/Valparaiso

Listing VolumeListing Volume -4% -4% Sales VolumeSales Volume -6% -6% Average List PriceAverage List Price +3%+3% Average Sales Price Average Sales Price (476 Qualified Sales) (476 Qualified Sales) -21%-21% Sales Price as a percent of List PriceSales Price as a percent of List Price +92% +92% Days on Market (222 Days Avg.)Days on Market (222 Days Avg.) +5% +5%

2008 - 2009 CONDO SUMMARY2008 - 2009 CONDO SUMMARY

RESIDENTIALRESIDENTIAL

Includes:Includes:

Single Family DetachedSingle Family DetachedSingle Family AttachedSingle Family AttachedManufactured HomesManufactured HomesCondosCondos

SINGLE FAMILY RESIDENTIALSINGLE FAMILY RESIDENTIAL

New ListingsNew Listings (%) Difference(%) Difference

20042004 39413941 N/AN/A

20052005 54755475 +39%+39%

20062006 60676067 +11%+11%

20072007 52315231 -14%-14%

20082008 42354235 -19%-19%

20092009 45784578 +8%+8%

YearYear TransactionsTransactions Diff.Diff. %%20042004 38723872 N/AN/A N/AN/A

20052005 36463646 -226-226 -6%-6%

20062006 29372937 -709-709 -20%-20%

20072007 24752475 -462-462 -16%-16%

2008200820092009

1803180319271927

-672-672+124+124

-27%-27%+7%+7%

2008 = 150 sales per 2008 = 150 sales per monthmonth2009 = 190 sales per 2009 = 190 sales per monthmonth

SINGLE FAMILY RESIDENTIAL SINGLE FAMILY RESIDENTIAL TRANSACTIONSTRANSACTIONS

21%

12%

33% 34%

21%

15%

34%30%

0%

5%

10%

15%

20%

25%

30%

35%

40%

Niceville Destin Crestview Fort Walton Beach

2008 2009

LOCATION OF SALES

(2008 VS. 2009)

2004

$244,868

2005

$321,141

2006

$335,336

2007

$305,263

2008

$267,665

2009

$303,955

0

50000

100000

150000

200000

250000

300000

350000

1 2 3 4 5 6

AVERAGE LIST PRICE SINGLE FAMILY RESIDENTIAL

PROPERTIES

2004

$239,165

2005

$226,147

2006

$319,601

2007

$286,079

2008

$249,453

2009

$219,519

0

50000

100000

150000

200000

250000

300000

350000

1 2 3 4 5 6

AVERAGE SALES PRICE SINGLE FAMILY RESIDENTIAL

PROPERTIES

45

93

133140 132

0

20

40

60

80

100

120

140

Year 2005 Year 2006 Year 2007 Year 2008 Year 2009

AVERAGE DAYS ON THE MARKETALL RESIDENTIAL PROPERTIES

Listing VolumeListing Volume -14% -14% Average List PriceAverage List Price +18% +18% Average Sales PriceAverage Sales Price - -

12%12% Sales Price as a percent of List Price +94%Sales Price as a percent of List Price +94% Days on Market (132 Days Avg.)Days on Market (132 Days Avg.) - 8% - 8%

2009 SINGLE FAMILY 2009 SINGLE FAMILY RESIDENTIAL SUMMARYRESIDENTIAL SUMMARY

SUMMARYSUMMARY

Total 2008 Qualified Residential Sales Transactions: 1803Total 2008 Qualified Residential Sales Transactions: 1803

Total 2009 Qualified Residential Sales Transactions: 2281Total 2009 Qualified Residential Sales Transactions: 2281

2008: 1803 / 12 Months = 150 Sales Per Month2008: 1803 / 12 Months = 150 Sales Per Month

2009: 2281 / 12 Months = 190 Sales Per Month2009: 2281 / 12 Months = 190 Sales Per Month

Our goal is to provide the citizens of Our goal is to provide the citizens of Okaloosa County with fair and equitable Okaloosa County with fair and equitable assessments and outstanding customer assessments and outstanding customer service. Your comments and suggestions service. Your comments and suggestions as to how we might improve these efforts as to how we might improve these efforts are always welcomed. are always welcomed.

Pete Smith, CFA Pete Smith, CFA Okaloosa County Okaloosa County Property AppraiserProperty Appraiser propertyappraiser@okaloosapa.compropertyappraiser@okaloosapa.com (850) 651-7240 (850) 651-7240