MARKET REPORT Q2 2020
DESTIN
SKEPTIC SOLUTIONS
DESTIN AREA REAL ESTATE MARKET TRENDS
+12% increase in total average sale price in Destin area real estate
-7% decrease in total sold volume in Destin area real estate
This report aims to give an insight into real estate market trends of Q2 2020 comparing to Q2 2019. It covers the areas of Destin, Miramar Beach/Sandestin, 30A West, North Santa Rosa Beach, 30A East, Point Washington, Panama City Beach, Fort Walton Beach, Navarre, Crestview, Niceville, and Freeport.
NUMBER OF HOMES SOLD IN 2020 PER AREA 500 400 300 200 100
Fr ee po rt
Ni ce vi lle Cr es tv ie w
M ira m ar Be ac h 30 A W es t 30 N A Sa Ea nt st a Ro sa Be ac Pt h W as ht in gt on Pa n Fo C am rt ity a W al to Na n Be va ac rre h /G ul lf Br ee ze
De st in
0
decrease in total average sale price in Destin area real estate
DESTIN
Total 2019
Q2 2019
Q2 2020
%
$617,288,419
$194,324,446
$151,815,421
-21
Avg Sales Price
$508,056
$515,449
$588,431
+14
Median Sales Price
$390,000
$380,000
$401,250
+5
1215
377
258
-31
42
93
105
+12
Sold Volume
Number of Sales Avg Days on Market
DESTIN MARKET TRENDS
+14% increase in average sales price in Destin
-31%
Destin market trends indicate an increase of $45 (11%) in the average price per square foot over the past 6 months. Buyers can expect to pay 96% of the seller’s asking price.
decrease in number of homes sold in Destin
AVERAGE PRICE PER SQUARE FOOT 400 300 200 100 0
Jan
Feb
Mar
Apr
May
Jun
MIRAMAR BEACH SANDESTIN
Total 2019
Sold Volume
$554,765,073
Q2 2019
$163,232,335
Q2 2020
%
$141,408,005
-13
$558,924
+11
Avg Sales Price
$531,384
$500,712
Median Sales Price
$400,000
$387,250
Number of Sales
1044
326
253
-22
Avg Days on Market
118
128
104
-18
$420,000
+8
MIRAMAR BEACH MARKET TRENDS
+11% increase in average sales price in Miramar Beach
-22%
Miramar Beach market trends indicate an increase of $2 (1%) in the average price per square foot over the past 6 months. Buyers can expect to pay 96% of the seller’s asking price.
decrease in number of homes sold in Miramar Beach
AVERAGE PRICE PER SQUARE FOOT 400 300 200 100 0
Jan
Feb
Mar
Apr
May
Jun
30A WEST
Total 2019
Sold Volume
$365,445,005
Q2 2019
$114,522,802
Q2 2020
%
$1114,700,606
0
Avg Sales Price
$801,414
$842,079
$882,312
+4
Median Sales Price
$605,000
$624,000
$592,500
-5
Number of Sales
456
136
130
-4
Avg Days on Market
110
121
156
+28
30A WEST MARKET TRENDS
+4% increase in average sales price in 30A West
-4%
30A West market trends indicate a increase of $147 (44%) in the average price per square foot over the past 6 months. Buyers can expect to pay 96% of the seller’s asking price.
decrease in number of homes sold in 30A West
AVERAGE PRICE PER SQUARE FOOT 500 400 300 200 100 0
Jan
Feb
Mar
Apr
May
Jun
30A EAST
Total 2019
Sold Volume
Q2 2019
Q2 2020
%
$1,211,263,882
$366,074,936
$396,607,315
+7
Avg Sales Price
$1,110,233
$1,122,929
$1,347,970
+20
Median Sales Price
$750,000
$738,000
$799,500
+8
Number of Sales
1091
326
292
-10
Avg Days on Market
115
108
123
+13
30A EAST MARKET TRENDS
+20% increase in average sales price in 30A East
-10%
30A East market trends indicate a increase of $12 (3%) in the average price per square foot over the past 6 months. Buyers can expect to pay 96% of the seller’s asking price.
decrease in number of homes sold in 30A East
AVERAGE PRICE PER SQUARE FOOT 600 400 200 0
Jan
Feb
Mar
Apr
Feb
Jun
NORTH SANTA ROSA BEACH
Sold Volume
Total 2019
Q2 2019
Q2 2020
%
$156,121,722
$49,634,357
$41,749,244
-15
Avg Sales Price
$359,727
$367,661
$463,880
+26
Median Sales Price
$307,095
$317,000
$339,950
+7
Number of Sales
434
135
90
-33
Avg Days on Market
83
86
86
0
NORTH SANTA ROSA BEACH MARKET TRENDS
-33%
+26% increase in average sales price in North Santa Rosa Beach
North Santa Rosa Beach market trends indicate an decrease of $9 (6%) in the average price per square foot over the past 6 months. Buyers can expect to pay 98% of the seller’s asking price.
decrease in number of homes sold in North Santa Rosa Beach
AVERAGE PRICE PER SQUARE FOOT 200 150 100 50 0
Jan
Feb
Mar
Apr
May
Jun
POINT WASHINGTON
Total 2019
Sold Volume
$14,265,101
Q2 2019
$10,774,635
Q2 2020
$21,641,283
%
+100
Avg Sales Price
$460,165
$359,154
$450,860
+25
Median Sales Price
$375,000
$351,995
$378,300
+7
Number of Sales
109
30
48
+60
Avg Days on Market
112
179
92
-48
POINT WASHINGTON MARKET TRENDS
+60%
+25% increase in average sales price in Point Washington
Point Washington market trends indicate an decrease of $125 (71%) in the average price per square foot over the past 6 months. Buyers can expect to pay 98% of the seller’s asking price.
increase in number of homes sold in Point Washington
AVERAGE PRICE PER SQUARE FOOT 300 200 100 0
Jan
Feb
Mar
Apr
May
Jun
PANAMA CITY BEACH
Sold Volume
Total 2019
Q1 2019
Q1 2020
%
$346,125,580
$88,355,265
$69,103,415
-21
Avg Sales Price
$329,958
$317,824
$319,923
+0.6
Median Sales Price
$265,000
$267,500
$270,875
+1
Number of Sales Avg Days on Market
1049
278
216
-22
92
98
96
-2
PANAMA CITY BEACH MARKET TRENDS
-22%
+0% increase in average sales price in Panama City Beach
Panama City Beach market trends indicate an increase of $82 (32%) in the average price per square foot over the past 6 months. Buyers can expect to pay 96% of the seller’s asking price.
decrease in number of homes sold in Panama City Beach
AVERAGE PRICE PER SQUARE FOOT 400 300 200 100 0
Jan
Feb
Mar
Apr
May
Jun
FORT WALTON BEACH
Sold Volume
Total 2019
Q2 2019
Q2 2020
%
$562,687,131
$157,345,476
$126,294,230
-19
Avg Sales Price
$270,003
$267,140
$280,653
+5
Median Sales Price
$230,000
$225,000
$255,000
+13
2084
589
450
-23
58
53
41
-22
Number of Sales Avg Days on Market
FORT WALTON BEACH MARKET TRENDS
-23%
+5% increase in average sales price in Fort Walton Beach
Fort Walton Beach market trends indicate a decrease of $43 (24%) in the average price per square foot over the past 6 months. Buyers can expect to pay 98% of the seller’s asking price.
decrease in number of homes sold in Fort Walton Beach
AVERAGE PRICE PER SQUARE FOOT 250 200 150 100 50 0
Jan
Feb
Mar
Apr
May
Jun
NAVARRE
Sold Volume
Total 2019
Q2 2019
Q2 2020
%
$551,319,020
$176,897,689
$161,005,862
-8
Avg Sales Price
$305,779
$304,471
$331,287
+8
Median Sales Price
$269,000
$269,900
$280,600
+3
1803
581
486
-16
55
55
57
+3
Number of Sales Avg Days on Market
NAVARRE MARKET TRENDS
+8% increase in average sales price in Navarre
-16%
Navarre market trends indicate an idecrease of $19 (14%) in the average price per square foot over the past 6 months.. Buyers can expect to pay 99% of the seller’s asking price.
decrease in number of homes sold in Navarre
AVERAGE PRICE PER SQUARE FOOT 200 150 100 50 0
Jan
Feb
Mar
Apr
May
Jun
CRESTVIEW
Sold Volume
Total 2019
Q2 2019
$375,355,616
$110,803,736
Q2 2020
$100,827,802
%
-9
Avg Sales Price
$208,995
$208,277
$226,579
+8
Median Sales Price
$208,900
$209,998
$228,700
+8
1796
523
445
-16
55
54
40
-25
Number of Sales Avg Days on Market
CRESTVIEW MARKET TRENDS
-16%
+8% increase in average sales price in Crestview
Crestview market trends indicate an increase of $18 (13%) in the average price per square foot over the past 6 months. Buyers can expect to pay 99% of the seller’s asking price.
decrease in number of homes sold in Crestview
AVERAGE PRICE PER SQUARE FOOT 200 150 100 50 0
Jan
Feb
Mar
Apr
May
Jun
NICEVILLE
Total 2019
Sold Volume
$327,764,570
Q2 2019
$104,427,807
Q2 2020
%
$103,432,038
-1
Avg Sales Price
$342,492
$346,936
$384,505
+10
Median Sales Price
$319,900
$326,000
$350,000
+7
Number of Sales
957
301
269
-10
Avg Days on Market
41
42
34
-19
NICEVILLE MARKET TRENDS
+10% increase in average sales price in Niceville
-10%
Niceville market trends indicate an increase of $18 (13%) in the average price per square foot over the past 6 months. Buyers can expect to pay 99% of the seller’s asking price.
decrease in number of homes sold in Niceville
AVERAGE PRICE PER SQUARE FOOT 200 150 100 50 0
Jan
Feb
Mar
Apr
May
Jun
FREEPORT
Sold Volume
Total 2019
Q2 2019
$149,372,554
$35,651,184
Q2 2020
%
$44,452,745
+24
Avg Sales Price
$280,775
$292,222
$286,791
-1
Median Sales Price
$265,364
$280,000
$280,300
0
Number of Sales
532
122
155
+27
Avg Days on Market
59
56
69
+23
FREEPORT MARKET TRENDS
-2% decrease in average sales price in Freeport
+27%
Freeport market trends indicate a decrease of $10 (8%) in the average price per square foot over the past 6 months. Buyers can expect to pay 99% of the seller’s asking price.
increase in number of homes sold in Freeport
AVERAGE PRICE PER SQUARE FOOT 150 100 50 0
Jan
Feb
Mar
Apr
May
Jun
NOTABLE SALES 18 W Palm Beach Court, Miramar Beach Newly built resort-style property boasting gross annual rental projections of over $229k. A 1,000+ sq ft rooftop terrace features 360 degrees of breathtaking views of Miramar Beach. 8 beds | 10 baths | 4,065 sq ft Sold by Shorey Group
34 Lakeview Beach Drive, Miramar Beach Located in the secluded development of Gulf Pines, a rare private beach community. The home has a large courtyard that has the New Orleans feel with a large pool and entertainment area. 5 beds | 4 baths | 4,058 sq ft Sold by Andrea Farrell
4322 Carriage Lane, Destin Nestled inside the gated community of Kelly Plantation, this lakefront masterpiece is positioned to overlook the 14th fairway of Kelly Plantation's iconic golf course. 3 beds | 3 baths | 2,459 sq ft Sold by Paul Shorey | Shorey Group
NOTABLE LISTINGS 3425 Scenic Highway 98, Destin "Commanders Palace" is one of Destin's most amazing homes along beautiful Scenic 98. Main home and fully built out guest house. Over-sized resort pool with waterfall. 9 beds | 11 baths | 6,039 sq ft Listed by by Andrea Farrell
10 Walton Drive Drive, Miramar Beach "Luxury Fortress" is engineered with the highest hurricane defense procaction rate. 4 verandas provide panoramic views over the Gulf. Private and secluded while steps away from the Gulf. 5 beds | 7 baths | 5,200 sq ft Listed by Angela Schermerhorn
22217 Front Beach Road, Panama City Beach "Sun Daze" is a beachfront dream home located in beautiful Panama City Beach, close to the famus 30A. Enjoy the private pool on the spacious back deck and watch picturesque sunsets. 6 beds | 7 baths |3,497 sq ft Listed by Andrea Farrell