Spotlight on the Destin Market for Jan - June 2022
Average sales prices continue to increase (18%) YTD compared to the same time in 2021. The number of homes and condos sold are down slightly as buyers react to increasing interest rates and real estate prices. In spite of this, 2022 continues to be an active year for Destin and 30A real estate. Inventory levels are starting to increase, giving buyers more selection, and listings are selling close to their asking price.
Here is a quick snapshot of the YTD real estate market in Destin, Florida and the surrounding Gulf Coast from January to June 2022.
YTD Jan - June 2022: Single-Family Home Sales - Destin & 30A
YTD from January to June, 2022, Single-Family homes in the Destin area showed a Sold Volume of -3%, but Average Sales Prices were up by 17%. The actual number of homes sold were down, and List to Sale price remained at 99%. Search all homes for sale in Destin
Average Sale Prices for detached homes showed significant gains in:
- 30A East Homes: +36%
- North Santa Rosa Beach: 35%
- Navarre Homes: +26%
- Miramar Beach/Sandestin Homes: +26%
- Destin: 25%
- Freeport Homes: +24%
YTD Jan - June 2022: Condo Sales - Destin & 30A
YTD condo sales in Destin were down by -13%, but the dollar value was up 4%. This was due in part to a heavy increase in Average Sales Price by 21%, with condos selling for an average 1% over list price. Condo sales in North Santa Rosa Beach increased by 136%! This was mainly due to the rising popularity of Pointe of View Condos. Search all Destin Condos and Townhomes for sale
Inventory has picked up with levels close to, or just below those of last year. The following areas showed exceptional gains in Average Sales Price:
- North Santa Rosa Beach: 43%
- Miramar/Sandestin: 36%
- Fort Walton Beach: 33%
- Niceville: 33%
- Destin: 24%
YTD Jan - June 2022: Townhomes/Attached Sales - Destin & 30A
Townhomes in the Destin and 30A area demonstrated exceptional gains from January to June 2022. Although the number of sales were down slightly from 2021, the dollar volume was up 12%, with the Average Selling Price up 22% ($589,107)! The List to Sales was also up 1%, with buyers paying an average of 100% of the townhome's value.
Areas that showed the highest Average Price increases included:
- 30A West: 103%
- 30A East: 42%
- Niceville: 29%
- Fort Walton Beach: 21%
YTD Jan - June 2022: Beachfront Home Sales - Destin & 30A
Beachfront homes in Destin and surrounding 30A
Areas that showed the highest Average Price increases included:
- 30A West: 103%
- 30A East: 42%
- Niceville: 29%
- Fort Walton Beach: 21%
YTD Jan - June 2022: Beachfront Condo & Townhome Sales - Destin & 30A
In spite of a lower number of sales for beachfront condos and townhomes, average sale prices were up considerably. Beachfront condos showed a 27% increase on average, and beachfront townhomes plus 19%.
Areas that showed the highest Average Price increases included:
Beachfront Condos
- 30A East: 59%
- Miramar/Sandestin: 40%
- 30A West: 38%
BEACHFRONT Townhomes
- 30A East: 129%
- Miramar/Sandestin: 43%
- Navarre: 14%
This data is obtained from the Emerald Coast Association of Realtors Multiple Listing Service, Inc. (ECARMLS)
Posted by Tim Shepard - Broker on
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