Destin Florida Homes - Market Update

January 2012 -- Home sales statistics for 2010 indicate a remarkably positive real estate year considering economic challenges.  The number of homes sold confirm our local market has fared much better than national averages.

Home Sales Trend.  The number of home sales in 2010 ended in a virtual tie with 2009 (2,895 vs. 2,894). Although 2010 only managed to tie 2009 in the number of home sales, it is reassuringly strong performance considering the BP oil scare and stifled sales early in the year.

Average Price of Homes Sold Rise 2% in 2010.  For the first time in 3 years, the average price of homes sold rose.  This rise in price confirms buyers are beginning to shop for and purchase slightly higher price homes than they were a year earlier.

Home Inventory Trend.   During the course of the year home inventory fell by 8% moving from 2,957 homes to 2,709 homes for sale.   Home inventory now stands at 1,889 for sale.

Sales are up, but what about prices.?  Home prices which had fallen for over 4 years have now stabilized largely due to the increased number of buyers and the shrinking inventory.  Continued low interest rates and the tax credit have also favorably affected the market.  This trend is expected to continue.

Looking for a Short Sale or Foreclosure Property?   Short sales accounted for 17% of all home sales in 2010 while foreclosures accounted for 14%. Traditional non-distressed sales accounted for 69% of all homes sold.  Home short sales and foreclosures continue to exert downward price pressure while shrinking inventory and increased sales apply upward pressure. Both appear to offset the other at least for now as prices remain stable.

We'd appreciate an opportunity to earn your business.  Buyers searching for bargains must do their homework.  Although true bargains are scarce, smart buyers teamed a smart Realtor team can find them.  We're here to help if you need us!

Homes for For Sale

Please let us know if I may assist you in obtaining detailed information for properties located in any of the following cities or regions below.

Area

Condos

Town Homes

Homes

Lots / Land

Total

NAVARRE

38

13

148

186

385

DESTIN

547

28

255

160

990

NICEVILLE

26

30

205

116

377

FORT WALTON BEACH

288

58

277

70

693

MIRAMAR BEACH

299

20

90

79

488

SANDESTIN

184

32

88

61

365

SANTA ROSA BEACH

85

26

300

676

1,087

GRAYTON BEACH AREA

162

21

383

328

894

FREEPORT

0

0

143

295

438

Total:

1,629

228

1,889

1,971

5,717