February 2018 -- The number of homes sold in Destin and vicinity has steadily grown since 2008. Both the number of sales and home prices have increased and continue to do so.
Near record low interest rates is one of the primary factors driving the home market surge. New home sales account for a significant portion of home sales growth as builders have responded quickly to the increased buyer demand. This is the first time in a decade the average home price has exceeded $430,000 with the Destin FL area.
The chart illustrates the number of Destin area homes sold year-to-date compared to the same period the previous 9 years. The Destin area home market has enjoyed substantial improvement in recent years. The market recovery since local housing sales bottomed in 2008 is notable.
Home Inventory Trend. Home inventory hit its high of 5,303 homes for sale in July 2007 and its most recent low in Jan. 2013. New home starts increased as builders realized the demand. The once again inventory increased. However, the last two years of unusually high home sales are again straining the supply of homes. The home inventory remains low and just above the January 2013 low.
While foreclosures are still available within our local home market they no longer impact overall market performance.\
Foreclosures are one of those things in real estate that always enjoy a strong buyer following.
Nowadays however, caution is warranted with respect to finding true value in foreclosures. Banks and lenders realize the thriving Florida coastal market does not require the deep discount that prevail in other areas.
Buyers are often required to submit "Highest & Best" offers without knowing if there are other bidders or if they are bidding against themselves. Knowing the true value helps cool the emotion of a competitive bid that may temp the buyer into exceeding it. We're here to help.
A complete list of condos, homes, and townhomes for sale within Destin, 30a and vicinity is listed by geographic area below. Please let us know if may assist you in obtaining detailed information for properties located in these local regions.
IMPORTANT NOTE: All information provided on this site is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.
RELIABILITY: RE/MAX Paradise Properties strives to ensure the accuracy of the data contained within this site. Information is deemed reliable, but is not guaranteed.