In the Destin Florida real estate market, there are 3105 properties for sale— 935 single family homes, 1869 condos, 206 townhomes and 401 lots.  For purposes of this report, the Destin and Sandestin markets have been combined.  Sandestin is in the Miramar Beach Florida postal area of Destin, in Walton County.  The Destin market sub-area is in Okaloosa County, Florida.

The average list price for Destin real estate is $373,685, a drop from $556,136 one year ago. 

The average sale price for Destin properties is $327,609, down from an average sale price of $502,099 one year ago.

The median sale price for Destin real estate is $267,000, down from $344,000 one year ago.  Note the “median” statistic may be more indicative of market trend than “average”, because “median” indicates that one-half of the sales were higher and one-half were lower. An “average” may be skewed higher due to some more expensive home sales that affected the resulting figure.

The report indicates 222 days average market time for Destin houses, condos and townhomes.  This figure is low, and does not reflect all listing periods of a single property. It only tracks the last listing period of the sold home.  If a property were listed multiple times and failed to sell during those times, that is not reflected in the figure.  Many Destin homes were listed more than once until they finally sold, or “re-listed” by the same real estate agent. 

The “Months Inventory” figure for Destin Florida real estate is 45 months, or almost four years.  Months inventory indicates how many months it would take to sell all the improved properties in the Destin real estate market at the current rate of sales. Normal markets inventories are usually six to seven months.

The inventory of Destin homes for sale is 3105, down from a year ago at 3474. 

Destin Florida has 476 short sales and foreclosures for sale, or 15% of the all properties for sale.

The post Destin Real Estate Market Report first appeared on Rulnick Realty.