Is Destin, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Destin was a Seller's Market.
Key Takeaway
Destin is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Destin, FL
How much do homes in Destin, FL cost?
Median Sold Price
$667,755
$417/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Destin have sold for 15.7% more than they did a year ago.
Summary: The median home sold price in Destin was $667,755 in March 2024, up 15.7% from last year, and the median price per square foot was $417.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | $370K | +13.8% |
| 2 Bedrooms | $490K | $483K | -1.4% |
| 3 Bedrooms | $600K | $644.4K | +7.4% |
| 4 Bedrooms | $960K | $1.0M | +4.2% |
| 5+ Bedrooms | $2.1M | $2.0M | -3.9% |
Summary: Destin housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.8%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes decreased by 3.9%.
Median Sold Price Compared To Nearby Cities
| Destin | $576.9K | $667.7K | +15.7% |
| Walton Beaches | $931.1K | $972.9K | +4.5% |
| Miramar Beach | $722K | $725.5K | 0.5% |
Housing Supply in Destin, FL
How many homes are available in Destin, FL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 563 | 650 | +15.5% |
Summary: The Destin real estate market had 650 homes for sale in March 2024, a 15.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 53 | 67 | +26.4% |
| 2 Bedrooms | 171 | 210 | +22.8% |
| 3 Bedrooms | 189 | 204 | +7.9% |
| 4 Bedrooms | 86 | 95 | +10.5% |
| 5+ Bedrooms | 64 | 74 | +15.6% |
Summary: The Destin housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.4%, 2 bedroom homes increased by 22.8%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 15.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 46 | 52 | +13.0% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Destin, you may be able to get a good deal. 73.1% of homes here sold below asking price last month.
Summary: A total of 52 homes were sold or pending in Destin in March 2024, up by 13.0% month-over-month. Of the 52 sold homes, 73% were sold under asking, 21% were sold at asking, and 6% were sold over asking.
Days on Market for Destin, FL
How long does it take to sell a home in Destin, FL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 63 Days | 82 Days | +29.3% |
Summary: Homes in Destin had an average of 82 days on market in Mar 2024, up by 29.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Destin are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 52 homes were sold in Destin; 31% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange program of Central Panhandle Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Properties subject to prior sale, change, withdrawal or rental. Copyright© 2024 Central Panhandle Association of REALTORS.© All Rights Reserved.