MARKET REPORT Q3 2020
DESTIN
SKEPTIC SOLUTIONS
DESTIN AREA REAL ESTATE MARKET TRENDS
+39% increase in total average sale price in Destin area real estate
+78% decrease in total sold volume in Destin area real estate
This report aims to give an insight into real estate market trends of Q3 2020 comparing to Q3 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 Q3 2020 PER AREA 600 400 200
Fr ee po rt
Ni ce vi lle Cr es tv ie w
De st in
M ira m ar Be ac h 30 A W es t 30 N A Ea Sa st nt a Ro sa Be ac Pt h W as ht in gt on Pa na m a Fo Ci rt ty W al to n Na Be va ac rre h /G ul lf Br ee ze
0
decrease in total average sale price in Destin area real estate
DESTIN
Total 2019
Q3 2019
Q3 2020
%
$617,288,419
$165,309,978
$275,431,502
+66
Avg Sales Price
$508,056
$510,215
$602,694
+18
Median Sales Price
$390,000
$407,500
$460,000
+12
1215
324
475
+41
42
107
149
+39
Sold Volume
Number of Sales Avg Days on Market
DESTIN MARKET TRENDS
+18% increase in average sales price in Destin
+41%
Destin market trends indicate an average price of $290 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
Apr
May
Jun
Jul
Aug
Sep
MIRAMAR BEACH SANDESTIN
Total 2019
Sold Volume
$554,765,073
Q3 2019
$141,345,393
Q3 2020
$310,232,764
%
+119
Avg Sales Price
$531,384
$579,284
$661,477
+14
Median Sales Price
$400,000
$435,000
$482,500
+10
Number of Sales
1044
244
469
+82
Avg Days on Market
118
123
109
-11
MIRAMAR BEACH MARKET TRENDS
+14% increase in average sales price in Miramar Beach
+82%
Miramar Beach market trends indicate an average price of $343 per square foot over the past 6 months. Buyers can expect to pay 97% of the seller’s asking price.
increase in number of homes sold in Miramar Beach
AVERAGE PRICE PER SQUARE FOOT 400 300 200 100 0
Apr
May
Jun
Jul
Aug
Sep
30A WEST
Sold Volume
Total 2019
Q3 2019
$365,445,005
$93,736,192
Q3 2020
%
$244,009,678
+160
Avg Sales Price
$801,414
$704,783
$871,463
+23
Median Sales Price
$605,000
$595,000
$675,000
+13
Number of Sales
456
133
280
+110
Avg Days on Market
110
126
168
+33
30A WEST MARKET TRENDS
+23% increase in average sales price in 30A West
110%
30A West market trends indicate an average price of $378 per square foot over the past 6 months. Buyers can expect to pay 97% of the seller’s asking price.
increase in number of homes sold in 30A West
AVERAGE PRICE PER SQUARE FOOT 500 400 300 200 100 0
Apr
May
Jun
Jul
Aug
Sep
30A EAST
Total 2019
Sold Volume
Q3 2019
Q3 2020
%
$1,211,263,882
$306,804,896
$873,416,202
+184
Avg Sales Price
$1,110,233
$1,103,614
$1,472,877
+33
Median Sales Price
$750,000
$752,000
$965,646
+28
Number of Sales
1091
278
593
+113
Avg Days on Market
115
140
156
+11
30A EAST MARKET TRENDS
+33% increase in average sales price in 30A East
113%
30A East market trends indicate an average price of $522 per square foot over the past 6 months. Buyers can expect to pay 97% of the seller’s asking price.
increase in number of homes sold in 30A East
AVERAGE PRICE PER SQUARE FOOT 600 400 200 0
Apr
May
Jun
Jul
Aug
Sep
NORTH SANTA ROSA BEACH
Sold Volume
Total 2019
Q3 2019
Q3 2020
%
$156,121,722
$39,757,091
$66,445,126
+67
Avg Sales Price
$359,727
$364,743
$478,022
+31
Median Sales Price
$307,095
$300,000
$339,900
+13
Number of Sales
434
109
139
+27
Avg Days on Market
83
89
103
+15
NORTH SANTA ROSA BEACH MARKET TRENDS
+27%
+31% increase in average sales price in North Santa Rosa Beach
North Santa Rosa Beach market trends indicate an average price of $214 per square foot over the past 6 months. Buyers can expect to pay 97% of the seller’s asking price.
increase in number of homes sold in North Santa Rosa Beach
AVERAGE PRICE PER SQUARE FOOT 250 200 150 100 50 0
Apr
May
Jun
Jul
Aug
Sep
POINT WASHINGTON
Total 2019
Sold Volume
$14,265,101
Q3 2019
$11,006,593
Q3 2020
%
$15,857,091
+44
Avg Sales Price
$460,165
$379,537
$428,570
+12
Median Sales Price
$375,000
$356,000
$380,000
+6
37
+27
Number of Sales
109
29
Avg Days on Market
112
80
70
-12
POINT WASHINGTON MARKET TRENDS
+27%
+12% increase in average sales price in Point Washington
Point Washington market trends indicate an average price of $206 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 Point Washington
AVERAGE PRICE PER SQUARE FOOT 300 200 100 0
Apr
May
Jun
Jul
Aug
Sep
PANAMA CITY BEACH
Total 2019
Sold Volume
$346,125,580
Q3 2019
$112,070,251
Q3 2020
$138,174,910
%
+23
Avg Sales Price
$329,958
$349,128
$411,234
+17
Median Sales Price
$265,000
$250,000
$311,500
+24
Number of Sales Avg Days on Market
1049
321
336
+4
92
116
100
-13
PANAMA CITY BEACH MARKET TRENDS
+4%
+17% increase in average sales price in Panama City Beach
Panama City Beach market trends indicate an average price of $290 per square foot over the past 6 months. Buyers can expect to pay 96% of the seller’s asking price.
increase in number of homes sold in Panama City Beach
AVERAGE PRICE PER SQUARE FOOT 400 300 200 100 0
Apr
May
Jun
Jul
Aug
Sep
FORT WALTON BEACH
Total 2019
Sold Volume
$562,687,131
Q3 2019
$176,971,157
Q3 2020
$170,910,596
%
-3
Avg Sales Price
$270,003
$290,593
$296,593
+2
Median Sales Price
$230,000
$235,000
$261,000
+11
2084
609
576
-5
58
73
47
-35
Number of Sales Avg Days on Market
FORT WALTON BEACH MARKET TRENDS
-5%
+2% increase in average sales price in Fort Walton Beach
Fort Walton Beach market trends indicate an average price of $186 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
Apr
May
Jun
Jul
Aug
Sep
NAVARRE
Sold Volume
Total 2019
Q3 2019
Q3 2020
%
$551,319,020
$157,314,311
$192,570,485
+22
Avg Sales Price
$305,779
$303,695
$352,048
+15
Median Sales Price
$269,000
$269,000
$305,000
+13
1803
518
547
+5
55
57
40
-30
Number of Sales Avg Days on Market
NAVARRE MARKET TRENDS
+15% increase in average sales price in Navarre
+5%
Navarre market market trends indicate an average price of $168 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 Navarre
AVERAGE PRICE PER SQUARE FOOT 200 150 100 50 0
Apr
May
Jun
Jul
Aug
Sep
CRESTVIEW
Sold Volume
Total 2019
Q3 2019
$375,355,616
$102,892,004
Q3 2020
$117,914,422
%
+14
Avg Sales Price
$208,995
$213,912
$231,204
+8
Median Sales Price
$208,900
$208,000
$232,200
+11
1796
481
510
+6
55
50
34
-32
Number of Sales Avg Days on Market
CRESTVIEW MARKET TRENDS
+6%
+8% increase in average sales price in Crestview
Crestview market trends indicate an average price of $148 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 Crestview
AVERAGE PRICE PER SQUARE FOOT 200 150 100 50 0
Apr
May
Jun
Jul
Aug
Sep
NICEVILLE
Sold Volume
Total 2019
Q3 2019
$327,764,570
$95,245,856
Avg Sales Price
$342,492
$350,168
Median Sales Price
$319,900
$329,000
Q3 2020
$118,939,594 $382,442 $350,000
%
+24 +9 +6
Number of Sales
957
272
311
+14
Avg Days on Market
41
43
40
-7
NICEVILLE MARKET TRENDS
+9% increase in average sales price in Niceville
+14%
Niceville market trends indicate an average price of $210 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 Niceville
AVERAGE PRICE PER SQUARE FOOT 200 150 100 50 0
Apr
May
Jun
Jul
Aug
Sep
FREEPORT
Sold Volume
Total 2019
Q3 2019
Q3 2020
%
$149,372,554
$39,742,678
$57,664,915
+45
Avg Sales Price
$280,775
$283,876
$295,717
+4
Median Sales Price
$265,364
$264,925
$275,400
+3
Number of Sales
532
140
195
+39
Avg Days on Market
59
88
81
-8
FREEPORT MARKET TRENDS
+4% Increase in average sales price in Freeport
+39%
Freeport market trends indicate an average price of $142 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 200 150 100 50 0
Apr
May
Jun
Jul
Aug
Sep
NOTABLE SALES 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 Sold 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 Sold by Angela Schermerhorn
717 Woods Drive, Niceville Beautiful upgraded home in Magnolia Woods subdivision by premier builder in our area. 3 beds | 3 baths | 2,107 sq ft Sold by Andrea Farrell & Eric Howell
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
2019 Scenic Gulf Dr #1009, Miramar Beach This stunning 10th floor unit at Edgewater Beach is one of the very few ''Terrace Units'' in the complex. The unit encompasses the entire southern portion of the floor of the building 3 beds | 3 baths | 1,480 sq ft Listed by Paul Shorey | The Shorey Group
654 Harbor Boulevard Unit #5, Destin One of a kind, fully remodeled boutique penthouse. Two levels of the top floor at the Harbor House of Destin feature expansive views of the Destin Harbor and the Gulf of Mexico. 4 beds | 3 baths | 2,911 sq ft Listed by Brittany Roby