Destin Real Estate Metrics
Destin Real Estate didn’t perform as 30A in 2015 but it did appreciate although December sale price numbers were down.
The absorption rate year-over-year dropped 18.36% to 9.83 months which is still high. For the year inventory resides at 10.68 months and was down from last year’s 8.09%.
The average list price went up 6.77% year-over-year to $730,220 and for the year expanded 5.72% ending with $594,347. Average sale price dropped like a lead weight of 14.48% to $399,450 YOY but for the year is up 6.47% or $416,383.
The median list price jumped by 14.11% YOY to $542,000 and for the year is up a paltry 1.52% to $399,900. Median sale price did not follow year-over-year by dropping 3.34% to $275,000. However, for the year it is up 6.75% to 307,700.
Average days on the market is up 6.77% year-over-year to 205 days while median year-over-year is up 15.58% and for the year is down 7.53% to 86 days. This is a good number illustrating properties moving off the shelf faster.
Other Metrics
Sold listings were down 12.8% with 75 vs. last year’s 86 closings in December. For the year we had 985 closings to 2014 closings of 916 so the market looks good from that perspective.
There were 75 pending sales in December vs. 64 last year this time and for the year a 9.3% bump with 1058 in 2015 and 968 in 2014, or a 9.3% increase for 2015 vs. 2014.
Active listings in December 2015 were 816 and 887 in 2014 and for the year up 3.0% from 2478 to 2406 in 2014. New listings were down 9.1% to 100 vs. 2014’s 110. For the year end new listings totaled 1628. In 2014 we had a total of 1564 new listings so we are up in 2015 by 4.1%.
We’ve had more new listings this year than last and more closings as well. Going into 2016 if this trend continues I expect prices to continue up as inventory constricts but note that inventory is already high so if prices go up they should be moderate increases.
SUMMARY STATISTICS |
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|---|---|---|---|---|---|---|
| Dec-15 | Dec-14 | % Chg | 2015 YTD | 2014 YTD | % Chg | |
| Absorption Rate | 9.83 | 12.04 | -18.36 | 10.68 | 11.62 | -8.09 |
| Average List Price | $730,220 | $683,947 | 6.77 | $594,347 | $562,191 | 5.72 |
| Median List Price | $542,000 | $475,000 | 14.11 | $399,900 | $393,925 | 1.52 |
| Average Sale Price | $399,450 | $467,084 | -14.48 | $416,383 | $391,077 | 6.47 |
| Median Sale Price | $275,000 | $284,500 | -3.34 | $307,700 | $288,250 | 6.75 |
| Average CDOM | 205 | 192 | 6.77 | 189 | N/A | N/A |
| Median CDOM | 89 | 77 | 15.58 | 86 | 93 | -7.53 |
