Emerald Coast Real Estate Market Update For January 2021
The Emerald Coast real estate market remains strong and active as we move into the second month of 2021. Buyer demand remains strong because of remarkably low mortgage rates and the "Pandemic" has actually boosted the market as families seek more space, inside and out, and even new areas to relocate to.
Sellers are netting top dollar for their homes and condos but many are hesitant to sell with concerns about where and what to move to. These concerns are legitimate but there are strategies and solutions to overcome the concerns...... let's chat.
The most critical issue in our area is very low residential inventory and if you are a seller considering a move, you are in the "proverbial" drivers seat.
For the Destin area and northwest Florida, here are the numbers for January 2021:
Absorption rate ( average time to sell) ~ 1.61 months, down 2.19 months over January 2020
Average Asking Price~ Up 18.87% over January 2020
Average Sales Price~ $577,333 up 31.7% over January 2020
Sold Listings~ Up 7.6% over January 2020
Pending Listings~ Up 40.0% over January 2020
Active Listings~ Down 39.3% over January 2020
New Listings~ Down 9% over January 2020
If the numbers above make your eyes "blur", here's the bottom line:
If you are a buyer considering a purchase, let's consult on how to make your "best" buy with superior negotiating based on my 30 plus years experience! Take advantage of the remarkably low interest rates now!
If you are a seller and have considered moving up, moving down, or just moving out...... I can determine your home or condos value in a matter of minutes for your consideration and our discussion.
Buying or Selling? Experience matters, and performance counts! My successful track record spans 30 plus years!
Text, call or email for a relaxed, informative and no- obligation consultation.
Chip Jervis 850-974-3300