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