Destin Real Estate Statistics
Destin real estate prices continue to rise but there is pushback from buyers.
The absorption rate dropped year-over-year by 7.99% to 10.02 months from 10.89 months in March 2015. Year-to-date inventory is down 9.85% to 9.98 months from 11.07 months in 2015 for the year.
The average list price is up 1.78% to $724,426 from last year’s $711,743 year-over-year and year-to-date rose 4.45% to $675,814 from a price of $647,052 in 2015. Year-over-year the average sale price did not follow dropping 5.07% to $397,187 against last year’s price of $418,406 however, the average sale price remains up year-to-date by 5.61% at $446,673 vs. last year’s sale price of $422,927.
The median list price jumped year-over-year by 10.02% to $549,000 from last year’s price of $499,000. Year-to-date we are up 10.32% at $479,900 vs. $435,000 in 2015. Median sale price on the other hand dropped year-over-year 6.13% to $291,000 against a sale price of $310,000 in 2015 while year-to-date it fell 7.39% to $286,167 from $309,000 last year.
Average days on the market is way up year-over-year 17.95% to 230 days vs. 195 days in 2015 while year-to-date we are down just a tad, 0.52% to 193 days vs. 194 last year.
Median days on market year-over-year is down 28.71% to 72 days against 101 last year and year-to-date fell 15.52% to 98 days vs. 116 in 2015 in the Destin real estate market.
Destin Real Estate Volume
Sold listings declined 6.5% year-over-year with 100 vs. 107 last year and year-to-date fell 8.4% with 218 closed sales against 238 last year.
Pending listings are down year-over-year by 6.4% with 103 vs. 110 in 2015 for March. Year-to-date pending listings are down 2.8% with 280 vs. 288.
Active listings fell 5.6% year-over-year with 815 in March against 836 last March and year-to-date we are down 4.5% with 1242 vs. 1301 last year.
New listings are down 1.7% year-over-year with 172 vs. 172 in 2015 while year-to-date fell 7.5% with 405 new listings against 438 in March 2015.
Pending and closed sales are down but so are active and new listings hence a fall in absorption rate.
SUMMARY STATISTICS |
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|---|---|---|---|---|---|---|
| Mar-16 | Mar-15 | % Chg | 2016 YTD | 2015 YTD | % Chg | |
| Absorption Rate | 10.02 | 10.89 | -7.99 | 9.98 | 11.07 | -9.85 |
| Average List Price | $724,426 | $711,743 | 1.78 | $675,814 | $647,052 | 4.45 |
| Median List Price | $549,000 | $499,000 | 10.02 | $479,900 | $435,000 | 10.32 |
| Average Sale Price | $397,187 | $418,406 | -5.07 | $446,673 | $422,927 | 5.61 |
| Median Sale Price | $291,000 | $310,000 | -6.13 | $286,167 | $309,000 | -7.39 |
| Average CDOM | 230 | 195 | 17.95 | 193 | 194 | -0.52 |
| Median CDOM | 72 | 101 | -28.71 | 98 | 116 | -15.52 |
