Good News for Destin & 30A Real Estate Sales in 2020
The 2020 real estate market in Destin and the 30A performed far better than most would have thought. 2020 was a tough year, but folks prevailed as life went on along the Emerald Coast in Florida. The successful buyer in 2020 had done their homework, were patient, diligent, and made strong and confident offers when they found what they wanted. That will be the standard in 2021 as well.
There were two big contributors to a successful real estate market in Destin and the 30A in 2020:
1. Demand for Coastal Properties
We saw demand for coastal area properties surge post covid as companies transitioned to a more "work from anywhere" approach with employees seeking more tax favorable destinations and an escape from urban centers. We witnessed this first hand in Destin and 30A as many buyers were from California and New York. This change is structural in nature and I don't see it slowing down in 2021.
2. Low Interest Rates
Low interest rates have helped buyer's absorb some of the resulting price appreciation but historically low inventory levels make finding the right property challenging. There is still good value to be found by those willing to be diligent and patient.
The following is a 2020 Destin & 30A sales summary broken down by:
- Condo Sales Summary
- Top Selling Condos
- Single-Family Home Sales
- Top Selling Neighborhoods
- Townhome Sales
- Beachfront Home Sales
- Beachfront Condo Sales
In the Destin area, of Active Condo Listings (+6%) and New Listings (+9%) were slightly higher than 2019. The overall number of Destin area condos sold showed a hefty 25% increase. The largest gains were in 30A West (+118%), 30A East (+51%), Miramar/Sandestin (+30%), and Niceville (+36%).
Overall Sales Dollars were up 33% and Average Prices up 6%. Some of the largest condo price increases were Navarre (+21%), N. Santa Rosa Beach (+14), Miramar/Sandestin (+11%), and 30A West (+11%).
Here are the top 10 selling condos in the Destin area by volume in 2020. Check out our blog post "Top Selling Condos in Destin & the 30A for 2020" for a complete list including average sale prices.
- Palms of Destin: 120 Sales
- Ariel Dunes: 73 Sales
- Gulf Terrace: 59 Sales
- Silver Shells Resort: 54 Sales
- Sandpiper Cove: 54 Sales
- Seascape: 48 Sales
- Majestic Sun: 32 Sales
- Hidden Lakes: 30 Sales
- Luau I & II: 30 Sales
- Beachside Villas: 27 Sales
2020 was a sellers market for single-family homes in the Emerald Coast and surrounding Destin area. New Listings and Active Listings were down slightly from 2019. Average Prices and the Number Sold, were way up from last year. Homes sold for an average of 98% of their asking price.
There were 15% more single-family homes sold in the Destin area in 2020 vs 2019. The most notable increases were in 30A East (+61%), 30A West (+56%), Miramar/Sandestin (+35%), and N. Santa Rosa Beach (+23).
There was an average 56% increase sales dollars pretty much across the board, especially 30A East (+108%), 30A West (+87%) and Miramar/Sandestin (+59%).
Average prices increased by 36% overall with notable increases in 30A East (+29), Destin (+28%), 30A West (+19%), and Miramar/Sandestin (+17%).
These were the top 10 selling Destin and 30A neighborhoods by volume in 2020. Check out our blog post "Hottest Selling Destin & 30A Communities in 2020" for a complete list with average prices.
- Holley By the Sea: 284 Sales
- Watersound: 265 Sales
- Hammock Bay: 229 Sales
- Watercolor: 141 Sales
- Crystal Beach: 79 Sales
- Alys Beach: 69 Sales
- Naturewalk at Seagrove: 68 Sales
- Driftwood Estates: 65 Sales
- Destiny: 57 Sales
- Prominence: 56 Sales
Townhome sales in the Destin area were down about 5% from 2019, but Sales Dollars were up 3%. New and Active Listings were down slightly from 2019 with fewer townhomes being listed on the Destin MLS.
2020 was the year of the beachfront home on the Emerald Coast. There were 9% more Active Listings and 4% more New Listings compared to 2019. This may not sound like much, but it equated to an 83% increase of Number of Beachfront Homes sold.
Sales Dollars were up by a hefty 178%, with huge increases in 30A East (+344%), Miramar/Sandestin (+169%) and Destin (+101%).
Average prices for Beachfront Homes in Destin and 30A increased by 16% with notable increases in the emerging Navarre (+64%), 30A East (+21%), and Miramar/Sandestin (18%). Sellers received an average of 95% of their asking price.
The gains for Destin area Beachfront Condos weren't quite as dramatic as their single-family counterpart, but notable to be sure. The number of sales in 2020 for Beachfront Condos were up 11%, with huge gains in 30A West (+140%), 30A East (+50%) and Miramar/Sandestin (36%).
Sales dollars for beachfront condos increased by 21%, with 30A West (+146%), Miramar/Sandestin (41%), and Destin (+29%) showing the highest gains.
Average Prices actually decreased slightly (-3%) overall, but large increases were spotted in Navarre (+14%) and Destin (+9%).Posted by Tim Shepard - Broker on