DESTIN REAL ESTATE: 2,557 Homes currently for sale.
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March 2010 -- Single Family Homes sales are up significantly in 2009. Record low prices combined with first time buyer rebates, lower insurance costs, and declining property taxes has spurred a significant increase in home sales for the first time in 3 years. The average home price our area (south end of Santa Rosa, Okaloosa, Walton counties) was $240,000 in the first half of this year.
Falling Inventory Trend. The inventory continues to fall. The overall inventory has declined 16% over the past 12 months. There are currently 2,557 for sale. Buyers are letting listing contracts expire and not renewing them. Many have started they had rather hold on to the property than sell at market prices. The declining inventory spells good news for stabilization of the home market. All it will take is a little cooperation form the national economy.
Our property summary table below shows the distribution of the condo inventory across the geographic markets of our area.Destin home Sales are slow, but not stagnant. If you find that perfect home - go for it. Don't count on it being available later. Don't confuse "slow sales" with "no sales" and remember that there are likely to be other bargain shoppers looking at the same property you are for all the same reasons.
Looking for a Short Sale, Foreclosure, or REO Property? In November, financially distressed property sales accounted for 33% of all home sales in our local area. Bargains can can be found in distressed property, but there are perils involved and experience is required. For example, all banks and lending institutions require "as Is" contracts which take away specific buyer friendly clauses. Also, as banks and other lending institutions have become inundated with short sale requests, the time it takes for bank review and acceptance of buyer offers has become longer and longer. Many banks now take 120 days and even 180 days to accept, respond, and close the deal. That means a long time in "limbo" for buyers who seek financially distressed property. A "normal" deal between buyer and seller with no bank or lender involved can be completed in 30 days. Professional help with this difficult process is important - and available. Just call us!
Overall Home Value Trends. Statistics show home values along the coast adjusted downward 14% nationally over the past year. Although a slight downward trend exists, the rate of decline has slowed as recent decreases in interest rates, property taxes, and hazard insurance are beginning to lessen the cost of ownership and assert a positive effect in our local market tempo. While difficult for sellers, buyers have never had it so good. Home buyers looking for a bargain can expect to be rewarded. This is especially true in the next few months as improving interest rates and lower cost of ownership replenish the number of buyers seeking bargains in the market.
Remember .. true bargains are scarce. Just because there is a lot of inventory doesn't mean there are a lot of genuine bargains. 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!
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.
Homes for sale - sorted by City and Complex -- we now provide a way for you to search for all Homes for sale at over 1,200 neighborhoods within 25 miles of Destin. Use the links below to find your favorite condo for sale, bookmark the page, and return often to keep track of local condo inventory and prices.
IMPORTANT NOTE: All information provided on this site is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.
RELIABILITY: RE/MAX Paradise Properties strives to ensure the accuracy of the data contained within this site. Information is deemed reliable, but is not guaranteed.
