Condominium sales in Panama City Beach were down this year in May when compared to May of 2009.  Sixty-four condos sold in 2010, compared to the Seventy-two sales the prior year.  June seamed to pick up the slack with a year over year increase.  Seventy-two condos sold in 2010, compared to the Fifty-nine sales the prior year.

Sales fell off a cliff in July when compared to July of 2009.  Fifty-six condos sold in 2010 compared to the  Seventy-eight (non preconstruction) condo sales the prior year.

This summer can be summed up in one word . . . OIL.  Everyone was waiting to see what happened.  Everyone was waiting for theoil that would never come.  I am very thankful that oil has not shown up on our beaches, but the sales volume definitely felt the impact.  That isn't to say nothing sold this summer.  Plenty of foreclosures went under contract in less than a week.  If condos were priced aggressively, they sold.  That is still the case as we continue to move through this market.