Destin Home Foreclosures-
Destin Condo Foreclosures-
Destin Townhome Foreclosures-
Miramar Beach Home Foreclosures-
Miramar Beach Condo Foreclosures-
Santa Rosa Beach Home Foreclosures-
Santa Rosa Beach Condo Foreclosures-
30A Home Foreclosures-
30A Condo Foreclosures-
Destin Home Short Sales-
Destin Condo Short Sales-
Miramar Beach Home Short Sales-
Miramar Beach Condo Short Sales-
Santa Rosa Beach Home Short Sales-
Santa Rosa Beach Condo Short Sales-
30A Home Short Sales-
Destin to 30A Land Foreclosures-
Destin to 30A Land Short Sales-
These charts include sales for single family homes located between Destin and 30A.
Sales Volume- 
Median and Average sale price declines - 


Average number of days on the market for homes that sold -
First of all, I want to wish everyone the best of luck in 2009. I had a very blessed year in 2008 in only my second full year in Real Estate. I sold over $13,000,000 of Real Estate in this area and was in the top 20 agents for sales volume between Pensacola and Panama City. In 2009 I will continue to work diligently for my clients to ensure that they continue to get great deals in this area.
2008 has been a rough year for the economy in many different areas including Real Estate. We showed a sharp decrease in the average sales price in this area compared to years past. The average sales price for the area is now down between 2003-2004 levels. Total sales in 2008 (754) were over 20% higher than the low in 2006 (618). I strongly believe that sales will continue to rise with the deeply discounted homes that are now available.
Foreclosures have made a large impact on the sales prices in this area as the banks have made an agressive attempt to price properties below market value to move them quickly. I can tell you that properly priced properties are moving very quickly in this area. I have been involved in at least 6 multiple offer situations this year on different properties. In some cases there were as many as 4 buyers going after one property. There are many buyers who did not enter the market during the bubble and have been diligently watching for that special deal to come along.
I think the average sales price in 2009 will probably drop another 10% overall. This is largely due to certain high end communities that are grossly overpriced. There are many properties in this area that I believe are undervalued even at this time. Many homes are already priced below the cost to rebuild which shows a solid bottom on those properties. It wouldn't surprise me in the slightest to see 900-1000 sales and see a large decrease in the overall inventory. The mortgage rates are at incredible lows at this time. This will pressure many buyers to pull the trigger as not to miss out on the opportunity to lock in at 5% or less. Another factor that could greatly influence this market is the stock market. Just about everyone has taken a beating over the last 6 months. Many people do not want to pull out and realize the losses. Once the market rebounds I believe we will see MANY buyers pulling out and moving money into undervalued Real Estate.
I am including all sales figures from 2008-2009 so that everyone can get a good picture of the Real Estate market in this area. All statistics included show single family homes from Destin through 30A.
2005
Total Homes Sold - 1,270 Average Sales Price- $802,072 Median Sales Price- $569,000 Inventory- 1,327
2006
Total Homes Sold- 618 Average Sales Price- $861,960 Median Sales Price- $558,750 Inventory- 2,366
2007
Total Homes Sold- 672 Average Sales Price- $858,516 Median Sales Price- $537,500 Inventory- 2,584
2008
Total Homes Sold- 754 Average Sales Price- $636,225 Median Sales Price- $395,000 Inventory- 2,458
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