How do you price a Destin Florida condo? Here’s a photo of a chart I recently made to get the big picture and relative details of sales in a Destin Florida condo complex. Why did I do this, instead of just plugging in square footage and number of bedrooms, which would be a typical way to price a Destin Florida condo (or even a house)?
When considering Destin Florida condo values, position in the building is a consideration, especially if all the condo units are not set straight on to the water with unobstructed views. Looking at the example I have provided, you can see this is a horseshoe type building. Having some familiarity with the property, since I’ve sold in there before, there are two apparent location factors in the building itself. Those are just “apparent”, because there are other factors that may not be known without personally seeing the property. (If that is not initially possible, or feasible, it’s a good reason to have an in-depth conversation with the seller, because they know their own building better than you do!)
First, condo units that are closer to the water on the sides of the horseshoe perpendicular to the water, have better views than the side units back further. Also, the section of the horseshoe that is parallel to the water has units with a more distant view. Unbeknownst to others who may not have seen the building in person, some of the straight facing units have obstructed views due to large pillars. And, strangely, there are rear “corner units” tucked into the “elbows” of the horseshoe that have no view at all! This is information you cannot get by just reading MLS descriptions. No one is ever going to write “dismal view”!
The water view is very important when selling a Destin Florida condo. One could assume that any “waterfront” condo will have a good view, but that is not necessarily true. It is usually the most important factor to a buyer when deciding to purchase a unit.
On my chart, I marked the unit locations, and sale prices. I also noted whether or not they had boat slips. This illustration helped me see the big picture in pricing in that particular Destin Florida condo building. Drawing it out gave me a clear understanding of value differences. This is critical information to price my listing well, and to explain to my seller what the market situation is in his building. I may or may not use this chart to show my seller, but I now know it, crystal clear, and we can move forward with great pricing.