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2021 Emerges With a Strong Seller's Market on Florida's Emerald Coast

Posted by Tim Shepard - Broker on Wednesday, February 3rd, 2021 at 9:43am.

Sellers market sign2021 real estate in Destin and the surrounding Emerald Coast has one of the most active seller's markets we've seen in years. We're seeing a lot of interested buyers purchasing from out of state. As "work from anywhere" has become the norm, many are seeking a sunny, beachfront in-home office to work from. Others are just taking advantage of the great interest rates.

For the period of January, 2021 we saw the following Percent of List rates and Average Sale Prices:

Townhome or Attached Residences:
Percent of List: 99%
Average Sale Price: $418,352 - a 38% increase from 2020

Condos:
Percent of List: 97%
Average Sale Price: $494,404 - a 28% increase from 2020

Single-Family Homes:
Percent of List: 98%
Average Sale Price: $640,529 - a 31% increase from 2020

Market Needs New Listings to Sustain Itself

From a seller's standpoint these numbers are pretty exciting, but the market needs fresh listings to sustain itself. Inventory levels are lower than the same time last year with fewer new listings as well.

  • Homes have -8% fewer new listings and -39% fewer active listings then the same time last year
  • Condos are on par with new listings, but -37% active listings
  • Attached Single Units are up 13% with the number of new listings, but down -26% with active listings

If you've been considering listing your home, but aren't sure of the conditions - it doesn't get much better than this. Sales prices are up. Sellers are getting very close to their asking price and listings in good shape and priced well aren't remaining on the market for long.

How Others Have Sold Their Homes Quickly

Selling your home quickly isn't just dumb luck. These are some of the prime factors in obtaining a quicker sale:

  • Desirable location, either close to the beach, schools, air force bases, etc.
  • Newly renovated
  • Priced according to the market. Find out what your home is worth
  • For investment rentals, in addition to the above points, things like the flexibility to accommodate several guests, furnishings, and proven rental income are important considerations

Here are some of the properties sold (under contract), or listed by Destin Real Estate in January 2021. When we put this list together, it was surprising to see so many homes selling in less than a week.

Under Contract in 1 Day!
Crystal Beach Home in Destin FL - 92 Shirah Street, Destin, FL 32541

With everything you would expect in a beachfront home, this Crystal Beach residence was just steps from the water with expansive gulf views. At 6 bedrooms, 5 full baths, including a detached guest cabana by the pool, the house sleeps 20. Newly renovated and furnished, this was a perfect candidate for a  beachfront rental investment on the Emerald Coast. Search other Destin Area Investment Homes, or current listings for Destin Beach Homes

Crystal Beach Home, 92 Shirah Street, Destin, FL 32541


Under Contract in 2 Days!
Destin Condo in Sterling Sands - 1080 Highway 98 706, Destin, FL 32541

With an average 60k in rental income it's a wonder that this 2-bedroom Sterling Sands condo in Destin didn't sell quicker! Fully furnished with amazing gulf views, this was a perfect example of a turn key investment rental opportunity.

Destin Condo in Sterling Sands, 1080 Highway 98 706, Destin, FL 32541


Under Contract in 3 Days!
Home in Willow Bend - 2519 Georgetown Lane, Fort Walton Beach, FL 32547

This Fort Walton Beach fixer upper was nabbed up in 3 days. The perfect investment opportunity priced under $170k, all this home needs is a bit of tender loving care. Look for other home opportunities in Fort Walton Beach

Fort Walton Beach Home in Willow Bend


Under Contract in 4 Days!
Freeport Single Family Home - 1289 Brushed Dunes Circle, Freeport, FL 32439

This brand new builder home in Windswept Estates, Freeport comes with a Holiday Builders 2 year Builders Warranty Plus the 10 year Bonded Builder Warranty. Windswept Estates is a growing golf course community with 401 lots starting at 1/2 acre in size. View all homes for sale in Freeport

Freeport Single Family Home, 1289 Brushed Dunes Circle, Freeport, FL 32439


Under Contract in 5 Days!
Island Home Condo - 485 Gulf Shore Drive UNIT 106, Destin, FL 32541

This Holiday Isle condo was priced well, newly renovated with fresh paint, upgraded kitchen and backsplash, fixtures and flooring. Island Home condos have an incredible location close to Norriego Point and deeded beach access ensures a steady supply of renters.

Island Home Condo, 485 Gulf Shore Drive UNIT 106, Destin, FL 32541


Under Contract in 16 Days!
Niceville Townhome - 312 Allen Street, Niceville, FL 32578

This is lovely brick and cedar siding townhome in Niceville features 3-bedrooms and a new coat of paint. Priced under $250k, the new owners are walking distance to Lion's Park, Ruckel Middle, Niceville High school and Eglin AFB.

Niceville townhome, 312 Allen Street, Niceville, FL 32578


Under Contract in 19 Days!
Fort Walton Beach Home - 517 Marlowe Drive, Fort Walton Beach, FL 32547

This 4-bedroom home in Fort Walton Beach is conveniently located just minutes from Eglin AFB, Hurlburt Field, or our lovely white sandy beaches. Built to enjoy the outdoors, a large inground pool sits off the back patio, or escape the sun in the attached Florida room. A new roof was installed before closing. Priced under $300k, this home is perfect for seasonal visitors or permanent residents.

Fort Walton Beach Home, 517 Marlowe Drive, Fort Walton Beach, FL 32547


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Tim Shepard, Broker/Owner
Destin Real Estate, LLC
Cell: (850) 259-4133
Toll Free: (866) 678-SOLD

https://www.browsedestin.com

 

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