Destin & 30A Home Market Update
December 2022 -- Home sales all along the coast is setting new record highs even in the midst of COVID challenges. The biggest challenge facing buyers in 2021 is lack of inventory. THe extremely low inventory is the result of too many buyers, not enough sellers, and homebuilders that cannot kep up due to lack of coastal land to build on.
Destin & 30A Single-Family Home Price Trend
The change in the average price of property sold in 2020 is unusually skewed in 2020 by what best can be described as a "COVID Blip". Luxury home buyers, many from metro areas, flocked to an 11 mile area of our beach known as 'Hwy 30-A Eest', to purchase second homes. The average price of homes sold in that area was $1.7M with homes going as high as $16M. National forecasts show migration from metro areas likely to continue.
Destin & 30A Home Sales Trend
The number of single-family homes sold in 2020 is up 22% compared to 2019. This is a record climb in the number of sales. Given the current year's economic challenges, many consider this a positive indicator of the strength of the local home market.
Destin & 30A Condo Inventory Trend
Inventory spiked downward under pressure from the record number of sales. Many more seeking to buy than want to sell. Builders can't keep up with demand as vacant land to build on becomes more scarce. This reduction is consistant with the inventory's long term downward trend although much more pronounced this past year. Inventory began this decade in 2010 with over 3,000 homes for sale. At the end of 2020 it is down to 610. To put it in perspective, there is only 1 home for every 5 real estate agents witinin our local MLS Board.
Homes For Sale in Destin, 30A, and Vicinity
A link to all homes & townhomes for sale within Destin, 30a and other nearby geo regions are listed by geographic area in the table below. Please let us know if may assist you in obtaining detailed information for properties located in these local regions.
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