MARKET REPORT Q1 2020
DESTIN
SKEPTIC SOLUTIONS
DESTIN AREA REAL ESTATE MARKET TRENDS
10% increase in total average sale price in Destin area real estate
21% increase in total sold volume in Destin area real estate
This report aims to give an insight into real estate market trends of Q1 2020 comparing to Q1 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
Q1 2019
Q1 2020
%
$617,288,419
$131,449,374
$130,034,713
-1
Avg Sales Price
$508,056
$499,807
$532,929
+6
Median Sales Price
$390,000
$390,000
$423,000
+8
1215
263
244
-7
92
96
105
+9
Sold Volume
Number of Sales Avg Days on Market
DESTIN MARKET TRENDS
6% increase in average sales price in Destin
7%
Destin market trends indicate a decrease of $11 (4%) 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 300 200 100 0
Oct
Nov
Dec
Jan
Feb
Mar
MIRAMAR BEACH SANDESTIN
Total 2019
Sold Volume
$554,765,073
Q1 2019
$113,773,762
Q1 2020
$131,482,799
%
+15
Avg Sales Price
$531,384
$499,007
$594,994
+19
Median Sales Price
$400,000
$380,600
$400,000
+5
Number of Sales
1044
228
221
-3
Avg Days on Market
118
127
112
-11
MIRAMAR BEACH MARKET TRENDS
19% increase in average sales price in Miramar Beach
3%
Miramar Beach market trends indicate an increase of $7 (2%) 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
Oct
Nov
Dec
Jan
Feb
Mar
30A WEST
Sold Volume
Total 2019
Q1 2019
Q1 2020
%
$365,445,005
$78,312,594
$100,209,802
+27
Avg Sales Price
$801,414
$851,223
$821,391
-3
Median Sales Price
$605,000
$605,000
$631,500
+4
Number of Sales
456
92
122
+32
Avg Days on Market
110
104
130
+25
30A WEST MARKET TRENDS
3% decrease in average sales price in 30A West
31%
30A West market trends indicate a increase of $26 (7%) in the average price 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 30A West
AVERAGE PRICE PER SQUARE FOOT 400 300 200 100 0
Oct
Nov
Dec
Jan
Feb
Mar
30A EAST
Total 2019
Sold Volume
Q1 2019
Q1 2020
%
$1,211,263,882
$215,063,314
$295,841,547
+37
Avg Sales Price
$1,110,233
$1,069,966
$1,202,607
+12
Median Sales Price
$750,000
$698,000
$782,645
+12
Number of Sales
1091
201
246
+22
Avg Days on Market
115
148
101
-31
30A EAST MARKET TRENDS
12% increase in average sales price in 30A East
22%
30A East market trends indicate a increase of $84 (18%) in the average price 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
Oct
Nov
Dec
Jan
Feb
Mar
NORTH SANTA ROSA BEACH
Sold Volume
Total 2019
Q1 2019
Q1 2020
%
$156,121,722
$30,503,898
$37,711,638
+23
Avg Sales Price
$359,727
$327,998
$366,132
+11
Median Sales Price
$307,095
$299,999
$315,000
+5
Number of Sales
434
93
103
+10
Avg Days on Market
83
88
105
+19
NORTH SANTA ROSA BEACH MARKET TRENDS
10%
11% increase in average sales price in North Santa Rosa Beach
North Santa Rosa Beach market trends indicate an increase of $15 (8%) 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 North Santa Rosa Beach
AVERAGE PRICE PER SQUARE FOOT 300 200 100 0
Oct
Nov
Dec
Jan
Feb
Mar
POINT WASHINGTON
Sold Volume
Total 2019
Q1 2019
$14,265,101
$10,167,380
Q1 2020
%
$11.339,809
+11
Avg Sales Price
$460,165
$363,120
$436,146
+20
Median Sales Price
$375,000
$363,538
$389,092
+7
Number of Sales
109
28
26
-7
Avg Days on Market
112
103
111
+7
POINT WASHINGTON MARKET TRENDS
7%
20% increase in average sales price in Point Washington
Point Washington market trends indicate an increase of $20 (12%) 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 Point Washington
AVERAGE PRICE PER SQUARE FOOT 300 200 100 0
Oct
Nov
Dec
Jan
Feb
Mar
PANAMA CITY BEACH
Sold Volume
Total 2019
Q1 2019
Q1 2020
%
$346,125,580
$67,189,358
$85,433,632
+27
Avg Sales Price
$329,958
$311,061
$332,426
+6
Median Sales Price
$265,000
$259,950
$275,000
+5
Number of Sales Avg Days on Market
1049
216
257
+18
92
80
99
+23
PANAMA CITY BEACH MARKET TRENDS
18%
6% increase in average sales price in Panama City Beach
Panama City Beach market trends indicate an increase of $25 (10%) in the average price 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 300 200 100 0
Oct
Nov
Dec
Jan
Feb
Mar
FORT WALTON BEACH
Sold Volume
Total 2019
Q1 2019
Q1 2020
%
$562,687,131
$99,756,913
$108,670,284
+8
Avg Sales Price
$270,003
$246,923
$257,512
+4
Median Sales Price
$230,000
$220,500
$220,000
0
2084
404
422
+4
58
64
45
-29
Number of Sales Avg Days on Market
FORT WALTON BEACH MARKET TRENDS
4%
4% increase in average sales price in Fort Walton Beach
Fort Walton Beach market trends indicate a decrease of $4 (2%) in the average price per square foot of $207 over the past 6 months. Buyers can expect to pay 98% of the seller’s asking price.
increase in number of homes sold in Fort Walton Beach
AVERAGE PRICE PER SQUARE FOOT 200 150 100 50 0
Oct
Nov
Dec
Jan
Feb
Mar
NAVARRE
Total 2019
Sold Volume
$551,319,020
Q1 2019
Q1 2020
%
$92,684,089
$118,964,918
+28
Avg Sales Price
$305,779
$300,922
$311,426
+3
Median Sales Price
$269,000
$259,825
$274,000
+5
1803
308
382
+24
55
67
48
-28
Number of Sales Avg Days on Market
NAVARRE MARKET TRENDS
3% increase in average sales price in Navarre
24%
Navarre market trends indicate an increase of $14 (9%) 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 Navarre
AVERAGE PRICE PER SQUARE FOOT 200 150 100 50 0
Oct
Nov
Dec
Jan
Feb
Mar
CRESTVIEW
Sold Volume
Total 2019
Q1 2019
$375,355,616
$67,391,723
Q1 2020
$83,780,735
%
+24
Avg Sales Price
$208,995
$195,906
$211,567
+7
Median Sales Price
$208,900
$197,798
$218,000
+10
1796
344
396
+15
55
72
48
-33
Number of Sales Avg Days on Market
CRESTVIEW MARKET TRENDS
15%
7% increase in average sales price in Crestview
Crestview market trends indicate an increase of $13 (10%) 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 Crestview
AVERAGE PRICE PER SQUARE FOOT 150 100 50 0
Oct
Nov
Dec
Jan
Feb
Dec
NICEVILLE
Sold Volume
Total 2019
Q1 2019
$327,764,570
$63,484,366
Q1 2020
%
$69,027,623
+8
Avg Sales Price
$342,492
$341,313
$343,421
+0.6
Median Sales Price
$319,900
$293,000
$310,000
+5
Number of Sales
957
186
201
+8
Avg Days on Market
41
55
46
-16
NICEVILLE MARKET TRENDS
0.6% increase in average sales price in Niceville
8%
Niceville market trends indicate an increase of $13 (10%) 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 Niceville
AVERAGE PRICE PER SQUARE FOOT 150 100 50 0
Oct
Nov
Dec
Jan
Nov
Mar
FREEPORT
Sold Volume
Total 2019
Q1 2019
$149,372,554
$29,290,266
Q1 2020
%
$30,155,897
+2
Avg Sales Price
$280,775
$273,740
$266,866
-2
Median Sales Price
$265,364
$260,000
$255,847
-1
Number of Sales
532
107
113
+5
Avg Days on Market
59
68
66
-3
FREEPORT MARKET TRENDS
2% decrease in average sales price in Freeport
5%
Freeport market trends indicate a increase of $6 (4%) 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
Oct
Nov
Dec
Jan
Feb
Dec