As we wrap up summer of 2017, Newman-Dailey Resort Properties Real Estate Division has compiled a state of Emerald Coast report for those interested in buying or selling real estate in the Destin area.
First and foremost, our agents are reporting that the Destin real estate market has been hot, hot, hot this year! The market is proving that buyers and sellers alike have a strong sense of confidence in the real estate industry. According to the Emerald Coast Association of Realtors July 2017 Market Summary Report, there has been continued growth when comparing the month of July 2017 to the month of July in 2016: The average list price has increased 16.57% and the average sales price is now $398,227 (an increase of 7.99% over July 2016). In addition, the average cumulative days on market has decreased 18.46%.
Year-to-date from 2016 to 2017, the Destin, South Walton and 30A area has seen a 9.11% increase in the average sales price. While the median cumulative days on the market has decreased 20.59% and the number of active listings has decreased by 4.7% YTD. Sold listings have increased from 6,043 properties in 2016 to 6,778 properties in 2017.
At Newman-Dailey, we are seeing the same trends. Our agents are reporting that listings are selling quicker and at a higher price than last year. With fewer active listings and more people interested in diversifying their investment portfolios, the real estate market in Destin and South Walton is bustling. This trend is further supported by the fact that Interest rates have been fairly stable and we have not seen the sharp increase that the Feds were predicting from well over a year ago.
Are you interested in learning more about the Destn real estatre market? Ask one of our experienced real estate team members or call our real estate department at 1-800-225-7652. Or click here to view new listings.
See you @ the beach!
Whew... Lots of properties! Please, give us a sec.