Destin Condo Market is HOT

By
Real Estate Agent with Berkshire Hathaway HomeServices | Pen Fed Realty 3107554

One way to decipher a market is to analyze it.  I love to do this in all categories.  I am a bit of a real estate nerd and love to watch the numbers so I understand what is going on.

In my Investment Market, Condos under the $175,000 price range the numbers came as below:

 

Number of Condos in the Market in Destin and Santa Rosa Beach having at least one bedroom , one bathroom and less than $75,000 in price = 140 total

 

Number of Condos in the Market in Destin and Santa Rosa Beach having at least one bedroom , one bathroom and less than $75,000 in price and with a Gulf View = 36 total

 

Number of Condos in the Market in Destin and Santa Rosa Beach having at least one bedroom , one bathroom and less than $75,000 in price and Sold in the last six months = 180 total sold

 

Number of Condos in the Market in Destin and Santa Rosa Beach having at least one bedroom , one bathroom and less than $75,000 in price and with a Gulf View = 57 total sold

 

Number Sold = 180 x 12 months = 2,160.  Next take 2,160 divided by 52 weeks = 41.5 units per week of all units.

 

Number  Sold with Gulf Views = 57 x 12 months = 684.  Next take 684 divided by 52 weeks = 13.1 units per week of all Gulf View Units.

 

So, in the total category there are 140 total condos for sale right now and if they sell at 41.5 per week we only have a 3.37 weeks of supply left.

 

Of the Gulf View Condo Category there are 36 total Gulf View condos for sale right now and if they sell at 13.1 units per week we are left with a 2.74 week supply right now.

 

BOTTOM LINE, INVENTORY IS DWINDLING AND PRICES WILL SURELY BEGIN TO GO UP.

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Tags:
condos
destin
santa rosa beach
kelly klein
gulf front condos
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lifeguard real estate

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Kelly Klein

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