The Deepwater Horizon Oil Spill was on April 20. One can see the corresponding number of Destin Florida condo sales dropped in May through July.
In April there was a year-high of 80 Destin condo sales.
In July there were only 27 Destin condo sales.
The good news is the oil leak correction is well under way. The Destin Florida condo market is showing a positive response, with 66 new units under contract in July.
It will be interesting to watch the bounce in Destin condo sales, as the permanent oil well-fix is in sight.
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
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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.
An agent in Panama City is really complaining about the oil spill and how it has affected her market area. Bad enough the market has dropped and sales have slowed.
Hi Wendy... the news on the oil in the Gulf of Mexico issue seems to be trending well. Hopefully condo sales will follow that trend.
Sure hope they bounce back with hopeful oil spill news. It is a beautiful area!
Sorry to see the decrease, but hope you see a rebound soon!
Some good news Wendy. I hope the market rebounds well for you.