DESTIN FLORIDA HOMES FOR SALE: 3,037 homes currently for sale.
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September 2010 -- As previously reported, our local home market improved last year with the number of sales up 14% in 2009. This year has also seen the market improve, but the rate of improvement has been slowed by two major events: 1.) BP Oil spill, 2.) expiration of the $8,000 new buyer federal tax credit.
Home Sales Trend. Home sales fell 30% in July (210 vs. 298 homes) compared to July last year. This downturn seems to reflect the combined negative effect of the oil spill and the end of the government’s tax credit program which both occurred in April. In spite of the significant retraction of the market in June & July, home sales in 2010 remain up 2.5% (+43 units) compared to the same 7 month period in 2009. Short sales accounted for 16% of home sales in July. Foreclosures accounted for 13%.
Falling Inventory. While the number of homes for sale have risen by 5.8% since January, the 12 month trend indicates the the number of homes for sale is down 8% (-289 homes) as of the end of july. As of today, , Home inventory today stands at 3,037 homes for sale.
Sales are up, but what about prices.? Home prices which have 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.
Destin home Sales are slow, but not stagnant. If you find that perfect home - go for it. Don't count on it being available later. Don't confuse "slow sales" with "no sales" and remember there are likely to be other bargain shoppers looking at the same property you are for all the same reasons.
Looking for a Short Sale, Foreclosure, or REO Property? Financially distressed property sales accounted for 44% of all home sales in our local area over the past 30 days. Bargains can can be found in distressed property, but there are perils involved and experience is required. For example, all banks and lending institutions require "as Is" contracts which take away specific buyer friendly clauses. Also, as banks and other lending institutions have become inundated with short sale requests, the time it takes for bank review and acceptance of buyer offers has become longer and longer. Many banks now take 120 days and even 180 days to accept, respond, and close the deal. That means a long time in "limbo" for buyers. A "normal" deal between buyer and seller with no bank or lender involved can be completed in 30 days. Professional help with this difficult process is important - and available. Just call 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.
