November 2007 -- The fall festival season is a great time to be in Destin. Cooler breezes make long walks on the beach a very popular pastime for visitors and locals alike. It's a great time to visit and tour the local area!
Condo Inventory. There are currently 3,621 condos for sale in the Destin vicinity. Considering an average of 55 condos are sold each month, a persistent buyers market continues and buyers can expect a good chance of coming away with a bargain. Our property summary table below shows the distribution of the home inventory across the geographic markets of our area.
Condo prices hold fairly steady this month. Although their is a large number of condos for sale the number of legitimate bargains remain small. Smart buyers are the rule these days and Seller's who price carelessly receive no attention and quickly become frustrated as the time on the market often surpasses 2 years. Those who price well, however, are rewarded with a quick sale.
Condo Value Trends. Statistics show condo property values along the coast have adjusted downward 25 - 30% from their market peaks in mid- 2005. Although a slight downward slide in prices continue, recent cuts in prime lending rates combined with tax cut legislation being phased in by Florida's governor and legislature may finally succeed in stopping the downward trend.
What does this mean to home buyers and sellers? The higher than normal condo inventory will likely sustain the current buyer's market throughout the upcoming year. The downward momentum in prices, however, is nearing the end by most analytical accounts.
* Sellers should be prepared to price aggressively to catch the renewed interest of buyers who have noticed the interest rates and tax cuts.
* Buyers should pick-and-choose their properties now to gain better pricing in a market where buyers are scarce.
Source : http://www.destin123.com/
Condo Inventory. There are currently 3,621 condos for sale in the Destin vicinity. Considering an average of 55 condos are sold each month, a persistent buyers market continues and buyers can expect a good chance of coming away with a bargain. Our property summary table below shows the distribution of the home inventory across the geographic markets of our area.
Condo prices hold fairly steady this month. Although their is a large number of condos for sale the number of legitimate bargains remain small. Smart buyers are the rule these days and Seller's who price carelessly receive no attention and quickly become frustrated as the time on the market often surpasses 2 years. Those who price well, however, are rewarded with a quick sale.
Condo Value Trends. Statistics show condo property values along the coast have adjusted downward 25 - 30% from their market peaks in mid- 2005. Although a slight downward slide in prices continue, recent cuts in prime lending rates combined with tax cut legislation being phased in by Florida's governor and legislature may finally succeed in stopping the downward trend.
What does this mean to home buyers and sellers? The higher than normal condo inventory will likely sustain the current buyer's market throughout the upcoming year. The downward momentum in prices, however, is nearing the end by most analytical accounts.
* Sellers should be prepared to price aggressively to catch the renewed interest of buyers who have noticed the interest rates and tax cuts.
* Buyers should pick-and-choose their properties now to gain better pricing in a market where buyers are scarce.
Source : http://www.destin123.com/
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