Destin & 30A Condo Market Update
January 2023 --- Our local condo market remains active with sales only slightly below last year. Inventory has begun to recover from its record low of less than 600 condo units to nearly 800. Buyers looking last year who were unable to find what they wanted can expect more choices. Market sales continue to be sustained buy the popularity of the area as a vacation or second home destination. As gas prices rise, Destin FL becomes an even more attractive short-trip choice for eight large metro areas within a 7-hour drive.
Destin & 30-A Condo Price Trends
The average price of condos and townhomes which had increased the first half of 2022, seem to have leveled off for the time being. The additional condo inventory and national economic pressures have had an impact. However, no meaningful price decreases have been noticed. One notable difference is multiple offers and sales above list price which which dominated 2021 markets have vanished.
Sales in Destin & Vicinity Hold Steady
The number of condo sales exceeded last year until end of May leved off mid-summer and now dipping slightly below the 2021 sales intensity.
Destin & Vicinity Condo Inventory Rise from Record Low
High demand caused inventory to spiral downward to record low at the start of 2022. Since then, condo inventory has risen almost 20%. That's a meaningful rise but inventory remains significantly below Destin's average.