What's Happening with Destin Florida Real Estate?

Destin Florida Real Estate Market Report

February 2010

Destin Real Estate Market

There were 45 sales of homes and condos in Destin Florida for February 2010, 10 were short sales and 10 were foreclosures.

The average sales price for Destin real estate was $291,000.

The average list price for Destin homes and condos was $386,000, compared to $442,000 one year ago.

There are 1375 Destin homes and condos for sale, compared to 1660 one year ago.

There is a 30 month inventory of Destin homes and condos for sale, with the average months inventory being 28 for the past year.  A normal market is 6-7 months.

There are 199 Destin Florida short sales on the market.

There are 18 Destin foreclosures for sale.

Analysis:  There is still downward pressure on Destin real estate prices due to excessive inventory and other factors, such as difficulty obtaining condo financing.

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County-  Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. 

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2 comments • Wendy Rulnick "Its Wendy!" Destin FL Short Sales • March 13 2010 10:29AM

Destin Florida Real Estate Market Report

Destin Florida Real Estate Market February 2009

Destin real estate market

In the Destin Florida real estate market, there are 3105 properties for sale-- 935 single family homes, 1869 condos, 206 townhomes and 401 lots.  For purposes of this report, the Destin and Sandestin markets have been combined.  Sandestin is in the Miramar Beach Florida postal area of Destin, in Walton County.  The Destin market sub-area is in Okaloosa County, Florida.

The average list price for Destin real estate is $373,685, a drop from $556,136 one year ago. 

The average sale price for Destin properties is $327,609, down from an average sale price of $502,099 one year ago.

The median sale price for Destin real estate is $267,000, down from $344,000 one year ago.  Note the "median" statistic may be more indicative of market trend than "average", because "median" indicates that one-half of the sales were higher and one-half were lower. An "average" may be skewed higher due to some more expensive home sales that affected the resulting figure.

The report indicates 222 days average market time for Destin houses, condos and townhomes.  This figure is low, and does not reflect all listing periods of a single property. It only tracks the last listing period of the sold home.  If a property were listed multiple times and failed to sell during those times, that is not reflected in the figure.  Many Destin homes were listed more than once until they finally sold, or "re-listed" by the same real estate agent. 

The "Months Inventory" figure for Destin Florida real estate is 45 months, or almost four years.  Months inventory indicates how many months it would take to sell all the improved properties in the Destin real estate market at the current rate of sales. Normal markets inventories are usually six to seven months.

The inventory of Destin homes for sale is 3105, down from a year ago at 3474. 

Destin Florida has 476 short sales and foreclosures for sale, or 15% of the all properties for sale.

For additional information, contact:

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

Search All Destin Real Estate

Destin and Fort Walton Beach Short Sales & Pre Foreclosure Help.

Read Destin Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy to sell your Destin Florida home or buy a home on the Emerald Coast: itswendy@rulnickrealty.com

Call Wendy Rulnick, Destin real estate agent, to list and sell your home or condo or help you buy a home or vacation property on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County -  Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.   Wendy is a short sale and pre-foreclosure specialist and can help you sell or buy a short sale property in and around Destin Florida and the Emerald Coast.

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Subscribe to It's Wendy's Blog by Email

                                                                                              Rulnick Realty   Facebook WendyRulnick   Wendy Rulnick Twitter Short Sale or Stay Your Destin House

2 comments • Wendy Rulnick "Its Wendy!" Destin FL Short Sales • March 12 2009 05:32PM