Here are the statistics for condos between Destin and Inlet Beach. In 2007 they closed a pre-construction building so the numbers are skewed. I stated this last year and I stand by the fact that the condo market will take longer to recover. In my opinion it will be in this order; single family homes, condos, followed by raw land. The market is headed in the right direction and we should all be excited about that!
Sales and Inventory Report
Category - Condominiums
Statistics for Entire MLS from 1/1/2007 - 12/31/2008
MonthYearMonthly SalesAvg List $Avg Sale $Avg DOMDiscountCurrent InventoryMonths Inventory
January| 2007 |
269 |
$511,627 |
$499,668 |
211.80 |
2.39% |
2987 |
11.10 |
February| 2007 |
109 |
$475,540 |
$458,366 |
270.15 |
3.74% |
3065 |
28.11 |
March| 2007 |
148 |
$479,263 |
$468,256 |
231.69 |
2.35% |
3185 |
21.52 |
April| 2007 |
81 |
$542,624 |
$518,573 |
268.78 |
4.63% |
3346 |
41.30 |
May| 2007 |
94 |
$771,954 |
$715,981 |
243.81 |
7.81% |
3358 |
35.72 |
June| 2007 |
124 |
$985,677 |
$932,906 |
212.87 |
5.65% |
3407 |
27.47 |
July| 2007 |
87 |
$891,591 |
$841,236 |
272.18 |
5.98% |
3354 |
38.55 |
August| 2007 |
59 |
$741,864 |
$698,110 |
231.95 |
6.26% |
3327 |
56.38 |
September| 2007 |
47 |
$711,240 |
$667,100 |
197.84 |
6.61% |
3204 |
68.17 |
October| 2007 |
39 |
$802,089 |
$740,141 |
197.02 |
8.36% |
3097 |
79.41 |
November| 2007 |
37 |
$673,362 |
$599,382 |
297.30 |
12.34% |
2955 |
79.86 |
December| 2007 |
46 |
$581,998 |
$530,331 |
289.50 |
9.74% |
2844 |
61.82 |
Total:| 1140 |
$646,375 |
$613,885 |
243.74 |
6.32% |
3177 |
45.78 |
MonthYearMonthly SalesAvg List $Avg Sale $Avg DOMDiscountCurrent InventoryMonths Inventory
January| 2008 |
24 |
$858,037 |
$749,791 |
343.13 |
14.43% |
2608 |
108.66 |
Total:| 24 |
$858,037 |
$749,791 |
171.57 |
1.20% |
217 |
9.05 |
Grand Total:| 2007 - 2008 |
1164 |
$650,739 |
$616,687 |
251.39 |
7.53% |
3394 |
;)
;)
;)
