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Destin Florida Homes - Market Update

December 2008 -- The home market yielded some ground to our current economic turmoil with a decline of 4% in the number of contracts pending in the month of November compared to the same time last year.  In November last year 162 homes went under contract while November this year yielded 157.  While some buyers have put purchases on hold, others seem to be moving from stock/bonds to real estate preferring 'hard assets' over 'bank paper'.   This remains better than expected given the prevailing economic gloom.  National figures being reported in the media confirm our local result is in line with the broader national market.

Destin home Sales  are slow, but not stagnant.  If you find that perfect home - go for it.  Don't count on it being available later.  Don't confuse "slow sales" with "no sales" and remember that there are likely to be other bargain shoppers looking at the same property you are for all the same reasons.

Looking for a Short Sale, Foreclosure, or REO Property?   In November, financially distressed property sales accounted for 33% of all home sales in our local area.  Bargains can can be found in distressed property, but there are perils involved and experience is required.  For example, all banks and lending institutions require "as Is" contracts which take away specific buyer friendly clauses.  Also, as banks and other lending institutions have become inundated with short sale requests, the time it takes for bank review and acceptance of buyer offers has become longer and longer.  Many banks now take 120 days and even 180 days to accept, respond, and close the deal.  That means a long time in "limbo" for buyers who seek financially distressed property.  A "normal" deal between buyer and seller with no bank or lender involved can be completed in 30 days.  Professional help with this difficult process is important - and available.  Just call us!

Overall Home Value Trends.  Statistics show home values along the coast adjusted downward 14% nationally  over the past year.  Although a slight downward trend exists, the rate of decline has slowed as recent decreases in interest rates, property taxes, and hazard insurance are beginning to lessen  the cost of ownership and assert a positive effect in our local market tempo.  While difficult for sellers, buyers have never had it so good.  Home buyers looking for a bargain can expect to be rewarded.  This is especially true in the next few months as improving interest rates and lower cost of ownership replenish the number of buyers seeking bargains in the market.

Remember .. true bargains are scarce.  Just because there is a lot of inventory doesn't mean there are a lot of genuine bargains.  Buyers searching for bargains must do their homework.  Although true bargains are scarce, smart buyers teamed a smart Realtor team can find them.  We're here to help if you need us!

Homes for For Sale

Sorted by City and Type

Please let us know if I may assist you in obtaining detailed information for properties located in any of the following cities or regions below.

Area Condos Town Homes Homes Lots / Land Total NAVARRE 145 93 612 633 1,483 FORT WALTON BEACH 497 145 479 103 1,224 NICEVILLE 38 78 317 144 577 DESTIN 925 101 554 218 1,798 MIRAMAR BEACH 545 54 222 116 937 SANDESTIN 435 60 191 84 770 SANTA ROSA BEACH 179 55 640 988 1,862 GRAYTON BEACH AREA 358 22 600 486 1,467 FREEPORT 0 19 207 390 616 Total: 3,122 627 3,822 3,162 10,733

Homes for sale -- Search by City and Complex

Homes for sale - sorted by City and Complex -- we now provide a way for you to search for all Homes for sale at over 1,200 neighborhoods within 25 miles of Destin.  Use the links below to find your favorite home for sale, bookmark the page, and return often to keep track of the market.

About Our Site

IMPORTANT NOTE: All information provided on this site is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.

RELIABILITY: RE/MAX Paradise Properties strives to ensure the accuracy of the data contained within this site. Information is deemed reliable, but is not guaranteed.