Destin Florida Condominium Market Update (June 2024)

Stay up to date with the Destin, Florida condominium market in this June 2024 market update! Learn about the latest trends and prices in the Destin real estate market, perfect for buyers, sellers, and real estate agents.

Hello and welcome, I'm Keith Bailey REALTOR® with CENTURY 21 AllPoints Realty. Today, I'm excited to bring you a condominium market update for June 2024 in the beautiful city of Destin, Florida. Let's dive right into the numbers.

The real estate condominium market is currently showing a high level of inventory, with the Months Supply of Inventory at 14.2. This indicates that there is a significant amount of homes available for sale relative to the current demand.

The 12-Month Change in Months of Inventory has seen a substantial increase of 98.88%, suggesting that the market may be shifting towards a more buyer-friendly environment. Sellers may need to adjust their pricing and marketing strategies to attract buyers in this competitive market.

Condominiums are staying on the market for a median of 66 days, which is a moderate amount of time compared to other markets. This could indicate that buyers are taking their time to make decisions and sellers may need to be patient while waiting for offers.

The List to Sold Price Percentage is at 94.3%, showing that condominiums are typically selling close to their list price. This suggests that sellers are pricing their homes accurately and buyers are willing to pay close to the asking price.

The Median Sold Price is $440,000, indicating that the market is in a healthy range for both buyers and sellers. Overall, the market is balanced with a good amount of inventory, reasonable pricing, and homes selling at a competitive rate. Buyers and sellers should continue to monitor the market trends and adjust their strategies accordingly.

Thank you for tuning in to this condo market update. I look forward to helping you navigate the real estate market in Destin. Remember, when it comes to real estate, trust the expert – Keith Bailey, your local REALTOR® at CENTURY 21 AllPoints Realty.

Be sure to subscribe to my YouTube Channel for monthly market updates as well as local real estate advise and tips.

Century 21 AllPoints Realty
850-830-6771