Destin Real Estate
Destin Real Estate dropped a bit for the month of October, 2015 vs. October 2014. Absorption rate year-over-year decreased by 10.39% and 6.69% year-to-date so it’s taking less time to sell current inventory than last year. Average list price year-over-year increased 7.60% but was not supported by average sale price which dropped 4.61%. For the year Destin Real Estate average list price is up 6.79% and is supported thus far being up 8.74% year-to-date but if the monthly prices continue to drop this will also drop. Median list price exploded year-over-year by 17.22% but again was not supported by sale price which decreased 1.59% while median list price for the year is up a paltry 1.29% and median sale price is up 8.77%. Destin Real Estate average days on market dropped 19.81% year-over-year with median days on market going down 21.57% and for the year is down 9.57% so inventory is moving faster than last year. Sold listings were 64 for the month of October and 81 last year for a 21% drop but are up 8.9% for the year with 842 to 773. Destin Real Estate pending sales jumped to 93 to 76 vs. last year and a 22.4% increase and 931 to 829 last year up 12.3% so volume sales are looking good in the pipeline. Active listings are down 1.6% year-over-year with 886 this October vs. 900 last October and for the year sit at 2296 to 2199 and a 4.4% upward swing. New listings year-over-year were 113 to 123 last October so are down 1.6% while being up for the year by 6.6% with 1446 this year total to 1357 last year. It looks as though although more sellers hit the market for the year it is tapering off a bit if October this year is any indication and there were even more sellers last year for October alone. It still seems like a balanced market from a volume and pricing perspective.
| Summary Statistics | ||||||
| Oct-15 | Oct-14 | % Chg | 2015 YTD | 2014 YTD | % Chg | |
| Absorption Rate | 10.61 | 11.84 | -10.39 | 10.74 | 11.51 | -6.69 |
| Average List Price | $719,845 | $668,985 | 7.60 | $601,535 | $563,283 | 6.79 |
| Median List Price | $538,500 | $459,400 | 17.22 | $400,000 | $395,000 | 1.27 |
| Average Sale Price | $409,509 | $429,312 | -4.61 | $413,214 | $379,986 | 8.74 |
| Median Sale Price | $310,000 | $315,000 | -1.59 | $310,000 | $285,000 | 8.77 |
| Average CDOM | 166 | 207 | -19.81 | 186 | N/A | N/A |
| Median CDOM | 80 | 102 | -21.57 | 85 | 94 | -9.57 |
