Destin Real Estate
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 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. 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 year-to-date increase of 9.00% so it seems sellers and buyers are in sync for now. Median list price was up 14.74 for the month and 1.27 for the year while 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 market jumped 12.57% on average for November and median is down 7.53% for the year so all in all for the year days on market is 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 less listings now vs. last year this time but more over-all for this year 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 over-all this points to a nice sales market considering we have more new listings for the year yet less current active listings year-over-year. Buyer’s are buying them up!
|Nov-15||Nov-14||% Chg||2015 YTD||2014 YTD||% Chg|
|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|