Destin Real Estate Market Breakdown
Valuable monthly and year-to-year real estate sales statistics in Destin, Florida
Whether you are buying your tenth investment property or a first time home buyer, you are an investor in real estate. Knowing the real estate market area you are buying into is a crucial piece of making your home or property a successful investment. Enjoy the information and statistics provided in this article. If the Destin area may be in your real estate future, allow me to assist you in finding your new home, condo, or piece of land.
Destin at a Glance
Destin, Florida has long been a popular destination for tourists and fishermen. Surrounded by beautiful white-sand beaches to the south, a serene bay environment to the north, and Florida’s largest and most elaborate fishing fleet to the west, it is to no wonder why Destin enjoys more than four million yearly visitors. Aside from anglers and tourists, Destin has become a popular area for second home owners, investors, and high-end developers. Hosting thousands of homes valued over $1,000,000 and an “Old Destin” area where homes can be bought for less than $200,000, nearly everyone can own a piece of the Destin lifestyle.
October 2013 Statistics
In October 2013, Destin experienced sustained growth in several areas, including: overall sales, per square foot value, and home value perception. Inventory has also dropped month-over-month, and has experienced a significant decrease year-over-year, all positive signs of recovery and possibly a prelude to sustained future growth.
It is interesting to note that cash sales are at a reasonably high percent, hovering around 50% for 2013. During my research this month, I have found that a majority of the sales volume is attributed to cash investors, and of all buyers, cash buyers have the ability to purchase properties on average, at about 89% of original list price, compared to about 102% for buyers who sought conventional financing.
Destin home sales. During the month of October, 34 homes in Destin changed hands at an average price of $536,500. Of these sales, over half of the value was transferred by cash investors. These 34 homes sold in an average of 114 days for 94% of their list price.
Number of sales (Homes,Condos,Town homes)
October 2013: 92 September 2013: 82 October 2012: 67
Sales price to list price (SP/LP):
October 2013: 95% October 2012: 92.5%
October 2013: 748/ 8.13 Months October 2012: 886/ 13.22 Months
Average sale price per square foot:
October 2013: $202 October 2012: $198
If your would like more information on the Destin real estate market, or would like a personalized market analysis for your home or property, I would love to help and supply you with the information you need to make the decision that is right for you. You can contact me online, or call me directly at 850-687-5300