This Destin real estate update for July 2016 gives you a snapshot of home, condo and land sales in Destin FL and the surrounding Emerald Coast.
When summer rolls around, rental season kicks into full gear and sellers are less willing and less negotiable to sell. Buyers don't seem to notice too much though, as their attention turns to outdoor activities and our beautiful beaches. That being said, residential sales in the Destin area totaled $351,547,336. The average sale price was $372,008 and real estate averaged only 111 days on the market. The average seller received 95% of their asking price.
Strong July performing areas included:
- Navarre: 159 sales
- Fort Walton Beach: 149 sales
- Crestview: 112 sales
- Miramar/Sandestin: 95 sales
Destin Home Sales
Total home sales in the Destin area were 683, bringing in $267,222,626. The average sale price was $391,248, selling for 96% of asking price. Homes up for sale, remained on the market only an average of 94 days.
Luxury homes were hot along Scenic 30A with the highest average home price at $3,105,000 in Rosemary Beach, followed by $1,598,500 in WaterColor and $1,475,000 in Seaside. The front runner was definitely WaterColor real estate with 10 sales and only averaging 55 days on the market. Read more in our WaterColor Spotlight.
Most Expensive Home Sold: $2,100,000 for a home in Destin Pointe with unobstructed views of the Gulf and East Pass.
Least Expensive Home Sold: $189,00 was an excellent buy for a cozy rancher in Gulf Manor. It has a large yard and is close to schools shopping and bayside parks.
Destin Condo Sales
There were 173 condos sold in the Destin area, totaling $63,111,058. The average price was $364,804, which was 94% of the selling price. The average days on market was 162.
In the actual city of Destin, there were fewer condos on the market this year, but prices have increased 17% since 2015.
Most Expensive Condo Sold: $1,375,000 for a Gulf facing condo in Regency Towers with over 300 feet of private beach frontage. Completely renovated, this sale included designer furnishings throughout.
Least Expensive Condo Sold: $105,000 for a studio in Sandpiper Cove. The new owners have deeded beach access, use of 5 pools,whirlpool tubs, tennis courts, marina and more.
Destin Land & Building Lots
Destin land was a hot commodity in July with 142 properties sold in the area totaling $32,892,149. The average sale price was $231,635 and the average list to sale ratio at 81%. 30A West was the big seller with 23 properties in total.
Waterfront Properties
Destin area waterfront property sales was booming as always. Over 115 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 85 Gulf front properties sold, ranging in price from $124,000 for a studio condo in Islander Beach Resort, to that $4,400,000 home and carriage house in Rosemary Beach.
Posted by Tim Shepard - Broker on
Thank you for this post on the Destin real estate market. I was searching online for exactly this before I came across your blog & I am glad I did. I was really not sure about this area but after reading your real estate market update information it gave me a much better understanding of my different options.
Posted by Joyce C on Thursday, September 29th, 2016 at 1:44amAll the best,
Joyce
Leave A Comment