Destin & 30A Home Market Update
July 2020 -- Single family coastal homes continue to be in high demand along the Destin & 30-A coastline and parts inland. The charts below provide a 10-year comparison of the average price of single family homes.
Destin & 30A Home Prices Increase
The price of Destin & 30A homes continue to trend upward. The average price for a Destin home has increased each of the past 10 years. Looking at the year-to-date sales, 2019 will likely be another year to the long string of price increases for single family homes.
Destin & 30A Homes In High Demand
The number of Destin & Vicinity single family home sales continue upward with an 8 year uninterupted record of increase. Rising prices have not yet dampened the number of sales. The number sold each year has more than doubled since 2010.
What is fueling home sales? This is what home buyers say:
Waiting to purchase does not seem productive as sustainable price growth is underway.
Family continues to grow and need for different/larger home more urgent.
Shrinking inventory continues and homes and choices are narrowing.
Popularity of the area continues to grow. Home demand will persist.
While no one knows the future, statistical indicators show the strength of our local market and infers continued demand.
Destin & 30A Beach Home Inventory Near Record Low!
Dwindling home inventory has been the trend in the Destin and 30-A coastal market. While buyers continue to build, coastal land on which to build has become more scarce and more costly. Significantly more buyers than sellers are shopping local markets.
As can be seen by the pattern the past 8 years, most years have seen new inventory home resupply coming up short in fulfilling new buyer demands. The ever-increasing popularity of our local area has consistently grown sales to outpace supply in most recent years. There is a notable difference in the past inventories 8 years ago and now.