Cole Blair Properties Market Report
Destin, FL 32541
Single-Family Homes
Cole Blair I Broker, Owner I c. 850.376.3269 I e. cole@coleblair.com
Destin, FL 32541
Thu Apr 25 2024
This week the median list price for Destin, FL 32541 is $1,375,000 with the market action index hovering around 29. This is less than last month's market action index of 30. Inventory has increased to 206.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
While prices have been at a plateau for a number of weeks, this is a Buyer’s market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the MAI. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.
Real-Time Market Profile
| Median List Price | $1,375,000 | |
| Median Price of New Listings | $787,000 | |
| Per Square Foot | $503 | |
| Average Days on Market | 135 | |
| Median Days on Market | 84 | |
| Price Decreased | 45% | |
| Price Increased | 2% | |
| Relisted | 5% | |
| Inventory | 206 | |
| Median Rent | ||
| Market Action | 29 | |
| Slight Buyer's Advantage | ||
Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $3,400,000 | 4,620 | 8,000 - 10,000 sqft | 6 | 5.5 | 14 | 2 | 3 | 91 |
| $1,950,000 | 3,212 | 8,000 - 10,000 sqft | 4 | 4 | 24 | 2 | 3 | 84 |
| $997,499 | 2,448 | 4,500 - 6,500 sqft | 4 | 3 | 21 | 1 | 5 | 98 |
| $550,000 | 1,758 | 6,500 - 8,000 sqft | 3 | 2 | 27 | 5 | 4 | 73 |