Destin Real Estate Market Report November 2015

Destin Real Estate Market Report November 2015

Destin Stats

Destin real estate is cookin’ and the numbers are lookin’ good. I like the fact they continue to move up but at a moderate sustainable pace and sales, and prices are supporting continued upward swings in asking price. Absorption rate year-over-year was down 14.18% and year-to-date 7.28% so clearly there is less inventory on the market. This indicates sales are superseding new listings. I’d love to see this number get to 6 months. The average list price for the month is up 6.17% compared to last November and 5.99% for the year. These numbers are followed by a year-over-year average sale price increase of 10.81% and a year-to-date increase of 9.00% so it seems sellers and buyers are in sync for now. The median list price was up 14.74 for the month and 1.27 for the year while the median sale price is up 7.13% for the year-over-year and 7.55% for the year again supporting an increase in list price. Average days on the market jumped 12.57% on average for November and the median is down 7.53% for the year so all in all for the year days on the market are less. There were 60 sales in November vs. last year’s 57 and 906 this year vs. 830 last year so volume sales is up! Pending sales sit at 69 this November vs. 76 last year and 992 this year vs. 905 last year so although pending is down a bit year-over-year it’s well up for the year. Active listings for November sit at 838 vs. last November’s 891, and year-to-date are 2378 vs. last year’s 2296 so fewer listings now vs. last year this time but more overall for this year's total but sales are stripping active listings away from this year’s current total. We like that. New listings for the month were 79 vs. last year’s 97 and year-to-date new listings are 1528 vs. last year’s total of 1454 so again overall this points to a nice sales market considering we have more new listings for the year yet fewer current active listings year-over-year. Buyers are buying them up!


  Nov-15 Nov-14 % Chg 2015 YTD 2014 YTD % Chg
Absorption Rate 10.17 11.85 -14.18 10.7 11.54 -7.28
Average List Price $720,893 $678,991 6.17 $599,787 $565,908 5.99
Median List Price $545,000 $475,000 14.74 $400,000 $395,000 1.27
Average Sale Price $472,932 $426,804 10.81 $417,699 $383,201 9.00
Median Sale Price $323,000 $301,500 7.13 $310,000 $288,250 7.55
Average CDOM 197 175 12.57 187 N/A N/A
Median CDOM 96 59 62.71 86 93 -7.53

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