February 2016 -- Destin & 30A Beach condo sales continue to trend upward as both the the average price of condos sold and the number of condos sold climb. Destin condo market performance year-to-date shows current year sales the strongest in a decade.
Condo prices in Destin & vicinity continue nudging upward. Destin & 30A prices bottomed out in 2011, and began a slow-but-steady recovery in 2012. As 2015 goes into the record books its clear the steady upward trend in Destin & 30A beach condo prices has continued for a 4th year.
The average price of condos is a measure of both 1) price per square foot, and 2) combined choices made by buyers as to the price of the condo purchased.
Number of Destin condo sales move upward. Rising condo prices have slowed but not diminished buyers appetites. Beginning in 2009 the number of Destin & 30A beach condo sales began rising. Since the condo market's low-point in 2008, the number of Destin & 30A condos sold has more than doubled.
The number of sales each year underline a continuing demand for Destin & 30A beach condos along all 60 miles of our beautiful sugar white beaches.
What is fueling the growth? Here's what we hear from our recent customers:
Waiting to purchase does not seem productive as sustainable (slow but steady) price growth is underway.
Destin & vicinity rental proceeds are in record territory. Records have been set in 4 of the past 5 years making condo ownership more attractive.
Condo inventory has been moving up and down in cycles since its most recent low in Dec. 2012 of 1,285 condos for sale. As of January 1, 2016 our area set a new record low inventory level of 1,249 condos for sale.
This new record low is a stark contrast to July 2006 when it reached its record high of 5,047 condos for sale.
Distressed sales no longer control the Destin & 30A condo market. The number of short sales have been falling since 2010 and continue to shrink in number, with the exception of an occasional upward 'blip'.
If you're buying a foreclosure or short sale in Destin or 30A Beaches expect your offer to be one of several being considered. Also expect the process to be rigorous with a long wait for the sale to be final and no guarantee of outcome. For that reason, we always suggest you do your homework (we're here to help of course) to make certain you have a deal worth the additional wait and the risk.
Please let us know if I may assist you in obtaining detailed information for properties located in any of the following cities or regions below.
Condos for sale - sorted by City and Complex -- we now provide a way for you to search for all Condos for sale at over 1,200 neighborhoods within 25 miles of Destin. Use the links below to find your favorite condo for sale, bookmark the page, and return often to keep track of local condo inventory and prices.
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