Welcome to Another Market Review of Sales Activity in the 30A, Destin, and Miramar Beach/Sandestin Areas.
The story of our market is low inventory, lower sales volume. The year-end numbers show a continued drop across the board in active listings which has impacted closed sales. Buyers are generally looking for the newer shiny light and bright coastal chic motif and those properties sell relatively fast. However, much of our inventory was built in the early to mid 2000’s and is often somewhat dated which lends itself to either lower pricing or renovation by sellers before marketing and sale. At some point sellers will need to realize dated homes are much harder to sell and take longer, or renovate to sell faster and for more, or lower the price to meet the market expectations. Median sale price did stay in the black year-end on 30A and in Sandestin/Miramar Beach, and Destin, while median days on market to sell were up on 30A East and dropped 30A West, Sandestin/Miramar Beach and Destin. As 30A East is the higher-end market we would expect days on market to be higher than the other three areas in general.
As always, our goal in sharing this data with you is to create a better understanding of trends, local and the broader economy, affecting our unique housing market. We hope you find it to be a valuable resource, and we look forward to working with you to meet your real estate needs now and in the future. If you have any questions about the 30A, Destin, Miramar Beach/Sandestin market, please do not hesitate to reach out to me at 850-376-3269.
Snapshot Comparison: Year-Over-Year
30A/Sandestin/Miramar Beach
30A East
- Closed sales fell 19.4%.
- Pending sales rose 10%.
- Median sale price is down 4.69%.
- Inventory dropped 15.98%.
30A West
- Closed sales fell 50%.
- Pending sales are down 37%.
- Median sale price rose by 36.71%.
- Inventory is up 15.63%.
Sandestin/Miramar Beach
- Closed sales down up 22.8%.
- Pending sales are up 27.3%.
- Median sale price is up 6.76%.
- Inventory fell 17.42%.
Destin
- Closed sales fell 4.2%.
- Pending sales dropped 8.2%.
- Median sale price fell 5.61%.
- Inventory is down 18.38%.
