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MLS Search | The Wired Buyer | The Wired Seller | About Destin | Local Market Pulse | Destin Links DESTIN, FL. July 6, 2007 -- Fourth of July week is always the busiest week of the year in Destin as vacation rental occupancy swells to 110%. The streets are packed with out-of-town license plates and the lines are long at the restaurants. And why not? Independence Day is synonymous with beaches, sunshine, fireworks and backyard barbecue and what better place to be than beautiful Destin, FL. I continuously find myself saying- "Destin has become a global vacation destination that ranks among the best in the world." If you've been following my previous Market Pulse articles or monitor the DSS (Destin Seller's Sentiment) you'll know that prices are still falling. The good news for everyone - buyers especially - is that we now have some screaming WOW priced properties. Particularly in Gulfview condos which command very respective short term rental income. Savvy investors who have been circling in hover mode are now pulling the trigger. I do know of some special deals and my clients have been keeping me busy by making offers. What this means is that I know where the deals are and where seller's price thresholds are hanging after negotiations. Let's take a closer look at the Destin condo market. Here are the stats comparing 2006 to 2007 for June condo sales:
The pending number of 202 in 2006 is swelling because of Ariel Dunes Phase I longer term contracts added to the MLS. And the sold number in 2007 reflects the Emerald Grande's first closings. The overall condo sales in 2006 was 899! We have 2345 currently active condo listings. At the 2006 rate of absorption we have 2.6 years of inventory on the market. Even though monthly condo sales are moving along at only a 4% clip - the fact remains that there are WOW deals out there! The vacation renters are here and as the word spreads Destin will continue to swell with rental dollars. Call or email me and tell me you want to know where the WOW deal is. *All statistics are from the Emerald Coast Association of Realtors. Kerry McNulty, The Wired Agent 850.642.1081 Receive a week's worth of the HOTSHEET - Destin's brand new listings and PRICE CHANGES emailed to you every Monday: Previous Market Pulse articles: June 2, 2007 May 1, 2007 April 2, 2007 March 1, 2007 January 16, 2007 November 1, 2006 October 12, 2006 August 16, 2006 June 27, 2006 April 8, 2006 March 31, 2006 Feb 21, 2006 Jan 3, 2006 Oct. 10, 2005 Sept. 16, 2005 Copyright © 2007 TheWiredAgent.com -- ALL RIGHTS RESERVED. |