Connect

Find us on...

Dashboard

Login using...

Destin Market Summary - September 2016

Posted by Tim Shepard - Broker on Tuesday, October 11th, 2016 at 10:25am.

Here is the latest summary of the Destin real estate scene for September 2016. This gives you a snapshot of home, condo and land sales in Destin FL and the surrounding Emerald Coast.

Total residential sales for Destin and the surrounding towns were $267,488,702 with an average sale price of $432,830. Properties averaged only 123 days on the market with a closing price of 96% of the asking price. This was a robust September market, that sold more single-family homes and townhomes then the same time in 2015. Condo sales were down slightly, but prices increased 11%.

Strong September performing areas included:

  • Fort Walton Beach: 141 sales
  • Navarre: 122 sales
  • Destin: 85 sales
  • Niceville: 79 sales

Destin Home Sales

Destin real estate update72 single-family homes in Destin and the surrounding area totaled $18,377,024, which was 23% higher than September 2015. The averaged 98% of the asking price. The top three producing areas for home sales, included Fort Walton Beach with 16 sales, 30A East with 12 sales and Miramar/Sandestin Resort with 11 sales.

Luxury homes were hot along Scenic 30A, Rosemary Beach remained in the lead with the highest average home price at $3,578,750, followed by $2,680,000 in Seaside, $1,796,875 in WaterColor, and $1,717,859 in WaterSound.

Most Expensive Home Sold: $7,427,000 for a 2,056 sq.ft. vacation rental in Dune Allen. Situated Gulf front with 217 feet of waterfront, the sale included 4 separate lots.

Least Expensive Home Sold: $70,000 for a 1,112 sq.ft. brick bungalow in Valparaiso, Florida. The home went for 100% of the asking price.

Destin home sales for September 2016


Scenic 30A luxury home market for September 2016


Destin Condo SalesDestin condo stats

The number of condo sales were a bit lower this year with the exception of Destin condos which was 15% higher. The average sale price, however, increased substantially. Prices were 33% higher in Destin, 9% higher in Navarre and 30A East and 47% higher in Fort Walton Beach. There was an 11% increase overall and condos sold for an average of 95% of list price.

Townhomes proved a solid investment, selling 12% more than last year, and the average sale price increased 4% overall. 30A East increased by 34%, 33% in 30A West, 15% in Fort Walton Beach and 12% in Destin.

 

Most Expensive Condo Sold: $1,725,000 for an 11th floor penthouse in Signature Beach. With only 2 units per floor, this residence is truly luxurious and completely private.

Least Expensive Condo Sold: $35,000 for a 600 sq. ft. condo in College Park, Niceville.
Most Expensive Townhome Sold: $1,400,000 for a 2,289 luxury beachfront townhome in Delos, Frangista Beach.

Least Expensive Townhome Sold:  $58,000 for a 984 sq. ft. townhome in Brownsville Station, Fort Walton Beach

Destin condo stats for September 2016


Destin Land & Building Lots

Total land sales for Destin and the surrounding area totaled $24,371,700. High volume sales included 30A West with 20 lots, Navarre with 22 lots, Freeport with 17 lots and North Santa Rosa Beach selling 14 properties. The average selling price was $211,928, about 88% of list price.

Destin stats for land sales in September, 2016


Waterfront Properties

Destin area waterfront property sales are consistently top sellers. About 112 homes and condos sold in the Destin and Scenic 30A communities alone. The top seller was $4,400,000 for a single family home in Rosemary Beach. The average sale price was $663,747, 90% of the asking price, and homes remained on the market an average of 178 days.

There were 50 Gulf front properties sold, ranging in price from $7,427,000 for a beachfront home in Dune Allen (including 3 other lots), to $115,000 for a one-bedroom Destin condo in Silver Dunes. This condo has excellent rental opportunities.

There were 26 homes and condos sold with harbor, bay or sound views, totaling $14,020,000 and fetching about 94% of the asking price. the quickest selling areas were Navarre, Niceville and Sandestin Resort, which averaged 9 days on the market!

Gulf front stats for September 2016, Destin

Destin harbor front stats for September 2016



Listing Updates

 

Logo for Destin Real Estate, LLC

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

https://www.browsedestin.com

 

We'd love to hear what you thought of our service, please don't hesitate to send us your comments.

Leave a Comment