Menu Search
1-(800) 225-7652
HomeBlogJuly 2015The Destin Real Estate Forecast is Heating Up

The Destin Real Estate Forecast is Heating Up

real estate_stonebridgeWhen summer arrives and the weather heats up, all thoughts turn to the beach, and not just for vacation. The South Walton and Destin real estate markets saw positive gains in May, as evidenced by the market report provided by the Emerald Coast Association of Realtors.
 
Walton County Real Estate Market Stats
 
In Walton County, single family home sales were up 19.3% over 2014, along with a 13% higher sales price. Prices may have been affected by declining inventory due to pending sales, which were up a whopping 30.9% over last year. Last year’s inventory of listings indicated a 10.4 month supply; May 2015 inventory is down 24% to 7.9 months. 
 
Listings were being priced to sell, with the sold prices averaging 93.3% of listing price. Both median and average sales prices were up, 10.6% and 13%, respectively. Average sale price was $679,401, with a median sale price of $387,000.
 
Condo and townhome sales were up 7% over last year, along with the average sale price, which increased 18.4% to $414,977. As with single family homes, pending sales were up 18.4%, reducing inventory to an 8.7 month supply.
 
Okaloosa County Real Estate Market Stats
 
The trend for single family homes was similar in Okaloosa County, but to a lesser degree. Sales were up 13.1% over the same period last year, with pending sales up 12%. The average sale price was up 4.3% at $239,455, with the median sale price holding steady at $189,900.
 
Properties moved quickly, with the median number of days on the market at only 45, yet still sold at 95.1% of asking price. Inventory was down 5.3%, with only a 5.6 month supply available as of the end of May.  
 
Sales of townhomes and condos were down 12.2%, despite a 20.9% lower median sale price of $205,750, and a 5.1% lower average sale price. Properties also spent nearly 50% more days on market (82), before selling at 91.3% of asking price. Although inventory was down 4.9%, there was an 11.1 month supply at the end of May.
 
If you’ve been considering your own place at the beach, now is a great time to speak with one of Newman-Dailey’s experienced Realtors. Newman-Dailey’s team of South Walton and Destin real estate agents have decades of combined experience and can provide valuable advice regarding local market trends. Contact one today for a free consultation, and you just might turn that dream of owning your own beach home into a beautiful reality. Call us at 1-800-225-7652 or visit www.DestinSales.com to explore the possibilities.
 
See you @ the beach!

*Market statistics provided by the Emerald Coast Association of Realtors.
 
**Pictured above: 4410 Stonebridge Road in Kelly Plantation, Destin

Monday, July 6, 2015

Latest Blog Posts

More Summer Flights to Northwest Florida Beaches International Airport in Panama City Beach

Thursday, December 7, 2017

The only thing better than a beach vacation is arriving faster to your beach vacation destination. For those want to reach South Walton and Destin, Florida faster or simply don'...
Read More

Jerry Bielawski and Eva Pickens Honored as Destin Real Estate Top Producers

Monday, November 6, 2017

Newman-Dailey's Real Estate Division has been enjoying the booming Destin real estate market this year. Not only is Newman-Dailey's Real Estate Division listed among the top...
Read More

Newman-Dailey Voted 2017 Best Property Management Company by the Readers of Emerald Coast Magazine

Thursday, November 2, 2017

Thank you to everyone who voted! We were honored to learn that Newman-Dailey Resort Properties was voted "Best Property Management Company" on the Emerald Coast in Emerald...
Read More

X

Destin Sales Email Signup

Interested on keeping up to date on the latest:

  • Real estate news
  • Latest properties listed
  • Destin Events

 

Don't worry, we'll respect your privacy and not share your information with anyone else.


Are you human? Enter the number of email icons below: