Crescent at Miramar Beach, Market Update

By
Real Estate Broker/Owner with PrimeSouth Properties

The Crescent is a highly sought-after building on Scenic 98 near Destin, Fl.  with only 64 gulf front units. The complex was completed in 1997 with a very open floor plan.  All the units takes advantage of full gulf views from every floor location from the living room, master bedroom and expansive L-shaped balcony. The dining portion of the balcony is under roof with plenty of space for lounging in the sun in the open area. The 1200 square foot lagoon pool and tropical landscaping will give the owners a true resort experience when they are not enjoying the deeded beach access with full beach set-up.  

There is only one active listing at the Crescent.  It is listed at $525,000 and has been on the market for 83 days.  This unit is currently owned by an estate so it might be an interesting sale depending on how many principles are involved with the sale.  

Three units have sold in the last six months and one condo is currently pending.  The sold units have averaged in price from $496,000 to two at $610,000.  This last bit of information tells me that the only active listing might be priced well for a start.  

The condo market is very active at the present time with well upgraded units selling fast for top dollar.  Most of these units are in the rental programs which range from by owner to the various management companies here in Destin.  Rental returns are strong with the units generally booked during the 100 days of summer.  The shoulder seasons are filling up as well with those folks without kids enjoying the beaches after the tourists have left.  

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 Peter A. Mohylsky

Broker Associate

PrimeSouth Properties 

WWW.Bucketlistbroker.com

Peter@bucketlistbroker.com

 

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