Destin Real Estate
Destin Real Estate Statistics
Destin real estate seems to continue it’s steady trend up in February, 2016. Absorption rate dropped year-over-year 10.54% to 9.76 months from 10.91 months in February, 2015. Year-to-date we are down to 9.89 months from last year’s 11.16 months for an 11.38% decline. Inventory is dropping.
Average list price is up 2.41% to $728,153 year-over-year from $711,046 in 2015. Year-to-date the asking price has increased 3.74% to $693,222 from last year’s price of $668,203. The average sale price has boomed year-over-year by 25.15% to $505,277 from last year’s sale price of $403,729 and year-to-date has escalated 14.53% to $488,610 from $426,619 in 2015.
Median list price jumped 7.05% to $529,900 from $495,000 in 2015 and year-to-date is up 10.89% to $499,000 from a price of $449,999 last year. The median sale price was good year-over-year going up 11.99% to $299,000 from last year’s price of $267,000 and year-to-date is down 7.19% to $284,917 from last year’s $307,000.
Average days on market are down 7.78% to 166 days from last year’s 180 days year-over-year and year-to-date are down 17.01% to 161 days from 194 days in 2015. Median days on market are UP 44.29% to 101 days from 70 last year and year-to-date are down 7.14% to 104 days from 112 in 2015.
Other Metrics
Closed sales were down 4.4% year-over-year and 9.9% year-to-date. Pending sales are up 21% year-over-year and 1.7% year-to-date.
Both active and new listings are down so look for even less inventory moving forward.
Summary Statistics | ||||||
Feb-16 | Feb-15 | % Chg | 2016 YTD | 2015 YTD | % Chg | |
Absorption Rate | 9.76 | 10.91 | -10.54 | 9.89 | 11.16 | -11.38 |
Average List Price | $728,153 | $711,046 | 2.41 | $693,222 | $668,203 | 3.74 |
Median List Price | $529,900 | $495,000 | 7.05 | $499,000 | $449,999 | 10.89 |
Average Sale Price | $505,277 | $403,729 | 25.15 | $488,610 | $426,619 | 14.53 |
Median Sale Price | $299,000 | $267,000 | 11.99 | $284,917 | $307,000 | -7.19 |
Average CDOM | 166 | 180 | -7.78 | 161 | 194 | -17.01 |
Median CDOM | 101 | 70 | 44.29 | 104 | 112 | -7.14 |