MARKET REPORT Q3 2019
DESTIN
SKEPTIC SOLUTIONS
DESTIN AREA REAL ESTATE MARKET TRENDS
1% decrease in total average sale price in Destin area real estate
7% increase in total sold volume in Destin area real estate
This report aims to give an insight into real estate market trends of 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 600 400 200
Fr ee po rt
Ni ce vi lle Cr es tv ie w
Na va rre
De st in
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 na m Fo a Ci rt ty W al to n Be ac h
0
decrease in total average sale price in Destin area real estate
DESTIN
Q3 2018
Q3 2019
%
$158,854,572
$165,067,478
+3
Avg Sales Price
$512,434
$511,044
-0.2
Median Sales Price
$365,000
$415,000
+13
Sold Volume
Number of Sales
310
323
+4
Avg Days on Market
98
93
-5
DESTIN MARKET TRENDS
3% increase in sold volume in Destin real estate
13%
Destin market trends indicate a decrease of $2 (1%) 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 median sales price in Destin real estate
AVERAGE PRICE PER SQUARE FOOT 300 200 100 0
April
May
June
July
Aug
Sept
MIRAMAR BEACH
Q3 2018
Q3 2019
%
$157,395,816
$140,083,893
-10
Avg Sales Price
$552,266
$578,859
+4
Median Sales Price
$422,500
$435,000
+2
Sold Volume
Number of Sales
285
242
-15
Avg Days on Market
111
99
-11
MIRAMAR BEACH MARKET TRENDS
4% increase in average sales price in Miramar Beach
15%
Miramar Beach market trends indicate an increase of $42 (14%) 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
April
May
June
July
Aug
Sept
SANDESTIN
Q3 2018
Q3 2019
%
$2,713,500
$1,017,500
-62
Avg Sales Price
$678,375
$508,750
-25
Median Sales Price
$750,500
$508,750
-38
4
2
-50
159
105
-41
Sold Volume
Number of Sales Avg Days on Market
SANDESTIN MARKET TRENDS
50%
25% decrease in average sales price in Sandestin
Sandestin market trends indicate an increase of $23 (20%) in the average price per square foot over the past 6 months. Buyers can expect to pay 95% of the seller’s asking price.
decrease in number of homes sold in Sandestin
AVERAGE PRICE PER SQUARE FOOT 150 100 50 0
April
May
June
July
Aug
Sept
30A WEST
Q3 2018
Q3 2019
%
$106,933,355
$93,736,192
-12
Avg Sales Price
$1,018,412
$704,783
-30
Median Sales Price
$700,000
$595,000
+16
Sold Volume
Number of Sales
105
133
+26
Avg Days on Market
127
91
-33
30A WEST MARKET TRENDS
30% decrease in average sales price in 30A West
26%
30A West market trends indicate a decrease of $54 (16%) in the average price per square foot over the past 6 months. Buyers can expect to pay 95% of the seller’s asking price.
increase in number of homes sold in 30A West
AVERAGE PRICE PER SQUARE FOOT 600 400 200 0
April
May
June
July
Aug
Sept
30A EAST
Q3 2018
Q3 2019
%
$306,721,624
$304,147,739
-0.8
Avg Sales Price
$1,107,298
$1,110,028
+0.2
Median Sales Price
$705,900
Sold Volume
$752,000
+6
Number of Sales
277
274
+1
Avg Days on Market
124
108
-14
30A EAST MARKET TRENDS
0.2% increase in average sales price in 30A East
1%
30A East market trends indicate a decrease of $311 (63%) 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 30A East
AVERAGE PRICE PER SQUARE FOOT 1,000 750 500 250 0
April
May
June
July
Aug
Sept
NORTH SANTA ROSA BEACH
Q3 2018 Sold Volume
$31,625,566
Q3 2019
%
$39,757,091
+25
Avg Sales Price
$376,494
$364,743
-3
Median Sales Price
$323,250
$300,000
-7
Number of Sales
84
109
+29
Avg Days on Market
87
112
+25
NORTH SANTA ROSA BEACH MARKET TRENDS
29%
3% decrease in average sales price in North Santa Rosa Beach
North Santa Rosa Beach market trends indicate an increase of $41 (24%) 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 North Santa Rosa Beach
AVERAGE PRICE PER SQUARE FOOT 300 200 100 0
April
May
June
July
Aug
Sept
POINT WASHINGTON
Q3 2018
Q3 2019
%
$10,639,785
+7
$379,992
-11
$323,900
$355,538
+9
Number of Sales
23
28
+21
Avg Days on Market
123
Sold Volume Avg Sales Price Median Sales Price
$9,888,571 $429,937
80
-42
POINT WASHINGTON MARKET TRENDS
21%
11% decrease in average sales price in Point Washington
Point Washington market trends indicate an increase of $43 (22%) 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 Point Washington
AVERAGE PRICE PER SQUARE FOOT 250 200 150 100 50 0
April
May
June
July
Aug
Sept
PANAMA CITY BEACH
Q3 2018 Sold Volume Avg Sales Price Median Sales Price
$91,576,113 $327,057 $259,450
Number of Sales
280
Avg Days on Market
68
Q3 2019
%
$108,045,951
+17
$353,091
+7
$250,000
+13
306
+9
119
+54
PANAMA CITY BEACH MARKET TRENDS
9%
7% increase in average sales price in Panama City Beach
Panama City Beach market trends indicate an increase of $19 (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 Panama City Beach
AVERAGE PRICE PER SQUARE FOOT 250 200 150 100 50 0
April
May
June
July
Aug
Sept
FORT WALTON BEACH
Sold Volume Avg Sales Price Median Sales Price
Q3 2018
Q3 2019
%
$114,931,893
$150,593,057
+31
$247,698
$263,735
+6
$230,000
+4
$219,750
Number of Sales
464
571
+23
Avg Days on Market
54
50
-8
FORT WALTON BEACH MARKET TRENDS
23%
6% increase in average sales price in Fort Walton Beach
Fort Walton Beach market trends indicate an average price per square foot of $207 over the past 6 months.. Buyers can expect to pay 97% of the seller’s asking price.
increase in number of homes sold in Fort Walton Beach
AVERAGE PRICE PER SQUARE FOOT 250 200 150 100 50 0
April
May
June
July
Aug
Sept
NAVARRE
Sold Volume Avg Sales Price Median Sales Price
Q3 2018
Q3 2019
%
$150,038,174
$154,257,960
+2
$282,026
$303,060
+7
$269,000
+5
$254,945
Number of Sales
532
509
-4
Avg Days on Market
53
49
-8
NAVARRE MARKET TRENDS
7% increase in average sales price in Navarre
4%
Navarre market trends indicate an increase of $9 (7%) 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 150 100 50 0
April
May
June
July
Aug
Sept
CRESTVIEW
Q3 2018 Sold Volume Avg Sales Price Median Sales Price
$82,705,671 $195,985 $195,000
Q3 2019
%
$102,132,394
+23
$214,113
+9
$208,000
+6
Number of Sales
422
477
+13
Avg Days on Market
65
47
-32
CRESTVIEW MARKET TRENDS
13%
9% increase in average sales price in Crestview
Crestview market trends indicate an increase of $4 (3%) 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 200 150 100 50 0
April
May
June
July
Aug
Sept
NICEVILLEÂ
Q3 2018
Q3 2019
%
$82,218,559
$95,005,856
+15
Avg Sales Price
$322,425
$350,575
+8
Median Sales Price
$285,000
$329,000
+15
Sold Volume
Number of Sales
255
272
+6
Avg Days on Market
47
32
-22
NICEVILLE MARKET TRENDS
8% increase in average sales price in Niceville
6%
Niceville market trends indicate an increase of $4 (3%) 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 200 150 100 50 0
April
May
June
July
Aug
Sept
FREEPORT
Q3 2018
Q3 2019
%
$30,262,714
$38,128,337
+25
Avg Sales Price
$265,462
$282,432
+6
Median Sales Price
$240,000
$260,348
+8
Sold Volume
Number of Sales
114
135
+18
Avg Days on Market
80
52
-42
FREEPORT MARKET TRENDS
6% increase in average sales price in Freeport
18%
Freeport market trends indicate a decrease 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
April
May
June
July
Aug
Sept