What is the Forecast for the Destin Real Estate Market?

As we look back on the last six months of real estate transactions, the Destin real estate market continues to show strong signs of growth. With a large number of investors continuing to buy investment properties while the interest rates are still relatively low, the first five months of 2018 has proven to be a better year for sales when compared to the same time period January to May 2017. 

We’ve compiled a quick snapshot of real estate statistics tracked through the Emerald Coast Association REALTORS to compare the Destin real estate market for the first half of the year (Jan-May 2018) to the first half of last year (Jan-May 2017). 

Condos/Townhomes:

Days On Market -  
- On 30A, properties are on the market 31% fewer days in 2018
- In Destin/Miramar Beach, properties are on the market 13% fewer days in 2018 vs. 2017

Average Sales Price - 
- On 30A, the average sales price has increased by 17% from last year.  The average sales price for condos/townhomes on 30A in 2018 is $573,515.
- In Destin/Miramar Beach, the average sales price increased 3% in 2018 over Jan-May 2017.  The average sales price for condos/townhomes in Destin/Miramar Beach in 2018 is $386,462.

Number of Sold Properties -
- On 30A, the number of sold properties increased by 10% in the first half of 2018 vs. 2017.
- In Destin/Miramar Beach, the number of sold properties increased by 20% this year over last.

Single-Family Homes:

Days On Market -  
- On 30A, properties are on the market 20% fewer days in 2018.
- In Destin/Miramar Beach, properties are on the market 14% fewer days in 2018.

Average Sales Price -
- On 30A, the average sales price has increased by 8% from last year.  The average sales price for single-family homes on 30A in 2018 is $1,171,128
- In Destin/Miramar Beach, the average sales price increased 3% in 2018 from Jan-May 2017.  The average sales price for single-family homes in Destin/Miramar Beach in 2018 is $690,225.

Number of Sold Properties -
- On 30A, the number of sold properties increased by 12% from last year.
- In Destin/Miramar Beach, the number of sold properties decreased by 2% this year over last.

If you’ve considered buying or selling real estate in Destin, Miramar Beach or along Scenic Highway 30A, chatting with one of our experienced Real Estate Team members is a great place to start. Learn more about Newman-Dailey’s Destin Real Estate Division online or call us at 850-837-1071. 

Or simply enjoy the beaches of South Walton and Destin in one of Newman-Dailey’s premier vacation rental homes or condominiums. View our collection of Northwest Florida Beach Rentals online or call one of our friendly vacation specialists at 1-800-225-7652. 

See you @ the beach!

Published by Tracy Louthain
Monday, June 11, 2018