Destin & 30A Condo Market Update
May 2022 --- The local gulf coastal condo market enjoyed a record breaking year. The number of condo and townhome sales in 2020 grew by 19% and the average price of each unit up 9%. While sales were down significantly early in the year due to COVID lock-down, they surged upon Florida's re-opening. The unexpected burst of sales was fueled by a significant number of buyers coming from metro areas choosing Florida's gulf coast as a safer, more desirable family and investment environment.
Destin & 30-A Condo Price Trends
The average price of condos and townhomes began its most recent upward trend in 2010. The trend continues. Its ability to continue upward in the midst of last year's economic challenges gives tesimony to the durability of our local market.
Sales in Destin & 30-A Surge to New Record
The number of condo sales this year is up 19% compared to 2019. Sales lagged the first 5 critical COVID months, but starting in May broke all existing monthy records for number of sales.
Destin & 30A Inventory Falls to Record Low
The record number of buyers seeking Florida condos combined with current owners not wishing to sell their holdings has caused inventory to spiral downward to record low. Condo & townhome inventory was over 2,300 units at the start of the past decade in 2010. Now, at the start of this new decade it begins with just over 600 units. If you are buying property locally plan on a lot of competition.