Is Destin, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Destin was a Seller's Market.
Housing Prices in Destin, FL
How much do homes in Destin, FL cost?
Median Sold Price
$659,666
$403/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Destin was $659,666 in May 2024, up 11.9% from last year, and the median price per square foot was $403.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $325.5K | $355K | +9.1% |
2 Bedrooms | $475.5K | $463.5K | -2.5% |
3 Bedrooms | $581.2K | $636.6K | +9.5% |
4 Bedrooms | $992.5K | $1.0M | +5.8% |
5+ Bedrooms | $2.0M | $1.8M | -8.0% |
Summary: Destin housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 8%.
Median Sold Price Compared To Nearby Cities
Destin | $589.4K | $659.6K | +11.9% |
Walton Beaches | $911.4K | $1.0M | +9.7% |
Miramar Beach | $731.6K | $750K | +2.5% |
Housing Supply in Destin, FL
How many homes are available in Destin, FL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
593 | 634 | +6.9% |
Summary: The Destin real estate market had 634 homes for sale in May 2024, a 6.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 69 | 73 | +5.8% |
2 Bedrooms | 184 | 195 | +6.0% |
3 Bedrooms | 180 | 191 | +6.1% |
4 Bedrooms | 92 | 102 | +10.9% |
5+ Bedrooms | 68 | 73 | +7.4% |
Summary: The Destin housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 7.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
50 | 63 | +26.0% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 63 homes were sold or pending in Destin in May 2024, up by 26.0% month-over-month. Of the 63 sold homes, 83% were sold under asking, 10% were sold at asking, and 8% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
93 Days | 94 Days | +1.3% |
Summary: Homes in Destin had an average of 94 days on market in May 2024, up by 1.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Summary: During May 2024, 63 homes were sold in Destin; 30% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.