Destin Real Estate and market report are below. September 2015 year-over-year (YOY) saw a drop in absorption rate of 11.52% and a year-to-date (YTD) decrease of 6.63%. Average list price jumped 4.36% YOY and 6.44% YTD while median list price had a 13.77% increase YOY and 4.15% jump for the year thus far. The average and median sales prices matched these jumps as the average sale price YOY experienced a 6.86% increase and is up 10.59% for the year. Median sales prices went up 11.86% YOY and are up 9.15% for the year. Clearly, buyers and sellers are on close to the same page so far on pricing. Average days on the market YOY is barely up at 1.56% and the median is down 19.35% YOY and 8.60% YTD so listings are selling faster.
Total sales of Destin Real Estate this month compared to September 2014 dropped a full 18.6% YOY but for the year is still up 12.3%. So, we have to say the market is healthy from a sales perspective for the year. Pending listings are up 8.5% YOY and 12.9% YTD. Active listings are up 0.6% YOY and 4.9% YTD. Active Destin Real Estate active listings this month are at 913 vs. 908 this month in 2014 and for the year are 2178 total listings vs. 2076 in 2014. On the other hand, new listings for the month in 2015 are 129 vs. 126 in 2014 this time, a 2.4% jump and 1328 new listings total for this year vs. 1234 last year total for a 7.6% increase. This looks like a steady and strong market, not overly robust, and definitely no bubbles. Steady single-digit or low double-digit price increases for both YOY and YTD. This market has been trailing the 30A market since 30A turned the corner in 2010 so let’s see if Destin continues its steady course in the months ahead.
SUMMARY STATISTICS |
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|---|---|---|---|---|---|---|
| Sep-15 | Sep-14 | % Chg | 2015 YTD | 2014 YTD | % Chg | |
| Absorption Rate | 10.75 | 12.15 | -11.52 | 10.71 | 11.47 | -6.63 |
| Average List Price | $704,314 | $674,895 | 4.36 | $607,321 | $570,593 | 6.44 |
| Median List Price | $524,500 | $461,000 | 13.77 | $415,000 | $398,475 | 4.15 |
| Average Sale Price | $409,670 | $383,384 | 6.86 | $413,847 | $374,213 | 10.59 |
| Median Sale Price | $330,000 | $295,000 | 11.86 | $310,000 | $284,000 | 9.15 |
| Average CDOM | 195 | 192 | 1.56 | 188 | N/A | N/A |
| Median CDOM | 75 | 93 | -19.35 | 85 | 93 | -8.60 |
