DESTIN FLORIDA HOMES FOR SALE: 1,858 homes for sale some foreclosures.
RE/MAX Paradise Properties * 12815 Highway 98 West * Destin, Florida 32550 *
(850) 865-4179
February 2012 -- The local condo market finished up in 2011. The chart below illustrates our local home market's performance over the past 10 years as measured by the number of condos sold each year. As you can see from the graph, our local home market hit bottom in 2008 and has been improving at a slow but steady pace over the past 4 years. Low prices and interest rates are fueling sales.
How
are we doing this year? Although the year just began, it's hard
to resist the temptation to peak at the early sales data and at get a hint
of how we're doing so far this year.
First 21 days Jan 2011: 108 homes sold
First 21 days Jan 2012: 95 homes sold
While too early to draw conclusions about this years market from the first 3 weeks, but the early figures give rise to at least slight concern as to whether consumer demand for local homes will continue to rise in 2012 or stall. I will update these figures as we move into February in a couple weeks.
Home Inventory Trend.
Home inventory has diminished since its peak in July 2010 and has declined
by nearly 1/3. Buyers looking for homes will notice
a difference in the number of homes to consider for purchase. This means fewer choices
for buyers. Depending on the number of buyers seeking homes in 2012
it could also trigger the start of higher prices.
Declining Inventory Continues. The total number of homes for sale as of January 1 was 2,214. As of January 29 there were 2187 homes for sale showing the continued decrease of inventory, a decrease . Although inventory has tightened, prices have not risen as distressed sales continue to suppress prices. As of today, home inventory stands at 1,858 for sale.
Sales are up, but what about prices? Home prices which had fallen for over 4 years have now stabilized largely due to the increased number of buyers and the shrinking inventory. Continued low interest rates and the tax credit have also favorably affected the market. This trend is expected to continue.
Looking for a Short Sale or Foreclosure Property? Short sales accounted for 17% of all home sales in 2011 while foreclosures accounted for 12%. Traditional non-distressed sales accounted for 71% of all homes sold. Home short sales and foreclosures continue to exert downward price pressure while shrinking inventory and increased sales apply upward pressure. Both appear to offset the other at least for now as prices remain stable.
We'd appreciate an opportunity to earn your business. Buyers searching for bargains must do their homework. Although true bargains are scarce, smart buyers teamed a smart Realtor team can find them. We're here to help if you need us!
We'd appreciate an opportunity to earn your business. Buyers searching for bargains must do their homework. Although true bargains are scarce, smart buyers teamed a smart Realtor team can find them. We're here to help if you need us!
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.
Homes for sale - sorted by City and Complex -- we now provide a way for you to search for all Homes 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.
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.
