For those dreaming of living in a golf course community, the Destin area has an awesome selection to choose from. Median prices for homes on a golf course in Destin range from $463,750 to $1,135,000 with both private and public courses available. Burnt Pine, Kelly Plantation, Regatta Bay, and Emerald Bay are gated while Indian Bayou is not. Some courses require more skill than others but I'll leave that determination up to you.
Year to Date Comparison of Destin Golf Communities as of May 31, 2016
Located within the gates of Sandestin, Burnt Pine is the most exclusive golf course community in the Destin area. The average home is over 4,000 square feet with a median sales price of $1,135,000. The most expensive home in Burnt Pine closed at $1,920,000 this year while the average price per square foot was $299. The average home took 378 days to sale and sold for 16% less than list price on average.
Kelly Plantation and Regatta Bay
Kelly Plantation and Regatta Bay are Destin's premier golf course communities. There are slight differences in architectural styles but for the most part, these neighborhoods are comparable. Kelly Plantation homes averaged a sales price of $232 /sf while Regatta Bay was $232 /sf. Homes in both neighborhoods average about 3150 sf. Median prices are much less than Burnt Pine.
Sales in Emerald Bay averaged $187/sf and were on the market for an average of less than 48 days. The price points are much more attractive with median sales at $451,250.
The hottest neighborhood in Destin this year has been Indian Bayou. Homes there have been on the market an average of 48 days and inventory is at critically low levels. The features that make homes in Indian Bayou so desirable include; some of the largest lots in the area, Indian Bayou is in a very quiet area of Destin, and the median sales price of $463,750 appeals to a wider range of of budgets.
What does this all mean?
For sellers in Burnt Pine, take a look at your list price. The amount of negotiation and days on market indicate that homes are listed at unrealistic prices. Vacant or rarely used homes that sit on the market for a year costs tens of thousands of dollars to carry. Price correctly from the beginning and avoid this.
For buyers in Indian Bayou, be aggressive if you see something that you like. While you are thinking about what to do, someone else is already making an offer.
Whether you are looking to buy or sell in a home in one Destin's exclusive golf course communities, the team at Destin Real Estate are available to navigate you through the process. Just give us a call: Toll Free: (866) 678-SOLD
**Waterfront homes were excluded from this analysis.
Tim Shepard, Broker/Owner
Destin Real Estate, LLC
Cell: (850) 259-4133
Toll Free: (866) 678-SOLD
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