How to Price a Destin Florida Condo

By
Real Estate Broker/Owner with Rulnick Realty, Inc.

How do you price a Destin Florida condo?  Here’s a photo of a chart I recently made to get the big picture and relative details of sales in a Destin Florida condo complex. Why did I do this, instead of just plugging in square footage and number of bedrooms, which would be a typical way to price a Destin Florida condo (or even a house)?

 

When considering Destin Florida condo values, position in the building is a consideration, especially if all the condo units are not set straight on to the water with unobstructed views.  Looking at the example I have provided, you can see this is a horseshoe type building. Having some familiarity with the property, since I’ve sold in there before, there are two apparent location factors in the building itself. Those are just “apparent”, because there are other factors that may not be known without personally seeing the property.  (If that is not initially possible, or feasible, it’s a good reason to have an in-depth conversation with the seller, because they know their own building better than you do!)

 

First, condo units that are closer to the water on the sides of the horseshoe perpendicular to the water, have better views than the side units back further. Also, the section of the horseshoe that is parallel to the water has units with a more distant view. Unbeknownst to others who may not have seen the building in person, some of the straight facing units have obstructed views due to large pillars. And, strangely, there are rear “corner units” tucked into the “elbows” of the horseshoe that have no view at all!  This is information you cannot get by just reading MLS descriptions.  No one is ever going to write “dismal view”!

 

The water view is very important when selling a Destin Florida condo.  One could assume that any “waterfront” condo will have a good view, but that is not necessarily true. It is usually the most important factor to a buyer when deciding to purchase a unit.

 

On my chart, I marked the unit locations, and sale prices. I also noted whether or not they had boat slips.  This illustration helped me see the big picture in pricing in that particular Destin Florida condo building.  Drawing it out gave me a clear understanding of value differences.  This is critical information to price my listing well, and to explain to my seller what the market situation is in his building.  I may or may not use this chart to show my seller, but I now know it, crystal clear, and we can move forward with great pricing.

 

Need help selling your Destin Florida condo?

Posted by

"It's Wendy... It's Sold!"

Wendy Rulnick, Broker/Owner Rulnick Realty, Inc.

Call Wendy Rulnick 1-850-259-0422

email itswendy@rulnickrealty.com

www.rulnickrealty.com property searches and community info

Wendy Rulnick helps real estate buyers and sellers on the Emerald Coast of Florida.

Rulnick Realty

 

Comments (3)

Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

Specfic location critical to any sale.  Even those located on the same block or small community.  Good post.  m

Nov 29, 2023 12:57 PM
Wendy Rulnick

Good point, Mark! Little things like location of cross streets, corner lots, abutters, etc!

Nov 29, 2023 01:12 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wendy good to see you back it feels like a year or longer since you were on the platform? or just ignoring me?:)))Endre

Nov 29, 2023 10:56 PM
Wendy Rulnick

Hi Endre Barath, Jr. Long time no see!!  Hopefully, we will see you again soon! :)

Nov 30, 2023 06:11 AM
Joyce Marsh
Joyce Marsh Real Estate LLC - Daytona Beach, FL
Joyce Marsh Luxury Homes & Interior Designer

Knowing your market is key when pricing new listings and relying on a knowledgeable professional real estate agent is paramount for area sellers.

Feb 08, 2024 09:26 AM