4th Quarter 2020 Real Estate Forecast for Destin, Florida
Fall of 2020 has continued to bring in heavy real estate activity along the Emerald Coast. The months of August and September brought twice the volume of sales for Newman-Dailey agents. This trend is continuing as the month of October trends show a double in sales volume as well.
The combination of multiple offers on a single listing and possible delays with lenders, our team of Destin real estate agents have been working harder than ever to ensure their buyers and sellers achieve a successful closing.
Our team has been tracking real estate trends for the Destin market and we're forecasting more of the same as we move through fourth quarter of 2020. Below is the residential sales report for the Destin area tracked by the Emerald Coast Association of Realtors (ECAR) for the September 2020 compared to September 2019.
|
Residential
Report Breakdown
of Sold Properties in September 2020
(when compared to September 2019)
|
|
Condominiums
|
|
|
Total Active Properties For Sale
|
Days on Market for Active Listings
|
Number of Sold Listings
|
|
Destin
|
16% less
|
44% less
|
83% higher
|
|
Miramar Beach/Sandestin
|
8% less
|
44% less
|
95% higher
|
|
30A
|
20% less
|
54% less
|
142% higher
|
|
|
|
Detached
Single-Family Homes
|
|
|
Total Active Properties For Sale
|
Days on Market for Active Listings
|
Number of Sold Listings
|
|
Destin
|
33% less
|
55% less
|
71% higher
|
|
Miramar Beach/Sandestin
|
41% less
|
46% less
|
210% higher
|
|
30A
|
38% less
|
52% less
|
139% higher
|
|
|
|
|
|
|
Residential
Vacant Land
|
|
|
Total Active Properties For Sale
|
Days on Market for Active Listings
|
Number of Sold Listings
|
|
Destin
|
24% less
|
34% less
|
50% higher
|
|
Miramar Beach/Sandestin
|
8% less
|
44% less
|
100% higher
|
|
30A
|
33% less
|
39% less
|
140% higher
|
*Data provided by the local Emerald Coast Association of
Realtors
With interest rates staying at historically low for the foreseeable future, we do not expect any slowdown in real estate sales in the near future. If you are interested in diversifying your investment portfolio, contact our team today at 850-837-1071 or view recent listings in Destin, Florida here.
Friday, November 6, 2020