South Walton's Community Website
Beach Like A Local!
Create Account
New posts

Abby Prentiss

Beach Fanatic
May 17, 2007
571
119
Exactly! Here's the text. It's nice to share on SoWal....

Destin Single family home Market Analysis 2011 so far through July shows many changes from last year. We have seen the real estate market in Destin really start to take off. When I hear people saying they want to wait for prices to drop I am telling them they already have. The overall inventory of homes in Destin has gone from 487 homes for sale last year down to only 319 currently for sale. Another number to pay attention to is pending listings. This is the number of houses under contract and schedules to close. There is 35% more real estate in pending to close today than last year at this time. When you put these two numbers together you will find that currently in Destin there is less inventory but more things selling. So, what does this mean? The “bottom” of the real estate market in Destin has hopefully passed. We have had a terrific summer with tourist and vacationers packing the vacation rentals and beaches. Local Destin businesses are booming and we are back on track. The last statistic I would like to highlight is inventory on hand in months. What this means is with the current amount of homes for sale in Destin, how long would it take to sell them all if no new listings came on the market. Last year at this time we had over 20 months of real estate inventory and currently we have just over 10 months of real estate inventory!! This is a sign of a stable market.


Market-analysis-Jan11-July1.jpg
 
New posts