Real Estate Market Review in Destin, Florida
September 2013 statistics, sales info, and historical facts
In September 2013, Destin experienced a continued trend of market growth, including progress towards several new commercial developments along Calhoun Ave. Historically a month of slowed growth after a busy summer season, this September proved to be a strong year, with a total sales volume actually increasing a slight % from August.
Most popular price range(s):
Homes in the $500,000 – $550,000 saw an 81.25% increase of sales from last year.
Luxury homes in the $2,000,000+ price range saw a 129% increase of sales from last year.
Average Sales price/List price: 93%
What does this mean? Homeowners and home buyers are agreeing that the market is strong and negotiating relatively close to the listing price. With the total number of distressed sales declining, I would expect this percentage to climb near the 100% mark in the coming years.
All Cash Sales: 33%
What does this mean? Down from around 50% from the past few months, this trend possibly shows that more buyers are able to obtain loans. Another factor may be that investors are choosing to leverage their property investments, taking advantage of the “floating” interests rates around 4.25% before they change.
Average Home Sales:
Miramar Beach: $565,000
Historical Market Comparison:
Since September 2012, Destin has seen a season of strong market growth and a number of high profile transactions in the marketplace. Compared to 2012, September 2013 fared slightly better in overall sales numbers, moving 10 more properties, but performed significantly better in sales volume – gaining $12,500,000 – attesting to increasing homes values over the past year.
Should I make a move now?
Just like no two people are the same, no two home or real estate situation is the same. Contact me today for a free, professional market analysis of your home/ desired community.
If you are thinking of buying in the Destin, Santa Rosa Beach, or Panama City Beach area – I make it my priority to give my clients the competitive advantage in the real estate market, and the information needed to make the best decision.
For current owners wishing to sell, it is crucial to know your home’s market competition, true market assessment, and ways to improve the value of your home. If you are thinking of selling your current home or property, I make it my priority to showcase your home in the proper light and help to create the best and most effective selling experience possible for you.