1.  There were 34 condo sales in Destin for April 2009.  This figure is down from March, but there is no definite trend.  Monthly sales volume decreaseed, as well.

2. The average Destin condo list price is $420,397.  This is down from $711,000 one year ago! 

3. The average Destin condo sold price was $375,739.  This is down from $639,000 one year ago!  But the sale price is up from January and February, and less the the March average.

4. The price per square foot is down to $260, down from $346 one year ago.

5.  The median sold price for Destin condos is $297,500, the same as March.

6. The percent sold to list price is about 89%, fairly stable over the past year.

7.  There are 1977 condos for sale in Destin, a slighty lower inventory level than one year ago, but not showing a strong downward trend.

8.  There is a 58-month inventory of condos for sale.  That means, it would take almost five years to sell all the condos on the market at the current rate of sales.  A “normal” market is 6-7 months inventory.

The bottom line is that no clear trend is emerging in the Destin Florida condo market.  If you analyze the chart, some of the indicators have bounced around during the last few months.  One of the major problems affecting Destin condos is the severe Fannie Mae guidelines for Florida.  Condos with delinquency rates for homeowner assocation dues over 15% will be denied funding.  Condos cannot have daily check-ins, so called “condotels”.  All projects must be approved by Fannie Mae, which can delay sales a month or more.  Buyers must have 20-25% down.  And on and on.  The guidelines are shrinking the pool of buyers, and will no doubt have a continued negative affect on sales and prices, outside the normal market decline we have been experiencing.

Fore more information, email me at itswendy@rulnickrealty.com

It’s Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Destin Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Call Wendy Rulnick, Destin real estate agent, to list and sell your home or condo or help you buy a home or rental property on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County-  Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.   Wendy is a short sale and pre-foreclosure specialist and can help you sell or buy a short sale property in and around Destin

Subscribe in a reader

Subscribe to It’s Wendy’s Blog by Email

The post Destin Florida Condos – Market Report first appeared on Rulnick Realty.

Maravilla #4404, Destin FL Condo

The post Maravilla #4404, Destin FL Condo first appeared on Rulnick Realty.

1 BR 1BT 920SF  Built 2004 $98,900

Delightfully decorated unit. Wonderful ground floor access with two outside entrances, one from patio and one from large covered exterior hallway. Very open floorplan lives “big”. Owner has upgraded with grand farmer sink, top of the line LG washer and dryer with 7 year warranty, added shelving. Electric bills as low as 36-80 per month! Cable t.v. included with two HBO channels! Extra storage closet off patio. Access to pool, fitness room, bbq. Fabulous location for shopping, beach. Short sale subject to seller’s mortgage holder’s approval. (Note: seller has curtained off some moving boxes to left of living room, covering second doorway). Investors note: Seller willing to rent back for one year.

The post Indian Lake – Destin FL Condo – Short Sale first appeared on Rulnick Realty.

Sundestin Condo for Sale Unit 706
Property Address:1040 Hwy 98 E, #706Destin, FL 32541
299900488856
Beds: 1
Baths: 1.5
Sqft: 719
Year Built: 1984
Floors: 1
$299,900

The post Sundestin Condo Unit 706, Destin FL Condo For Sale first appeared on Rulnick Realty.

CLICK TO VIEW LISTING WEBSITE

View More Photos

• Search Destin Real Estate
• Destin Short Sale Help
• Destin Realtor Blog
• Listing Website

The post Cabana Club -Destin FL Condo For Sale first appeared on Rulnick Realty.