Destin & 30A Condo Market Update
August 2020 -- Unusual economic challenges exist, but luckily, real estate along the coast has weathered the storm well. Midyear stats show the number of condo and townhome sales have dipped only 11 percent compared to the same period last year. The earlier expectation of a larger impact was tempered by June's rebound.
Destin & 30A Condo Price Trend
As shown in the graph below, the average price of local condos and townhomes essentially the same as the last two years in spite of this year�s economic headwind. The stability of condo average price has surprised some as it appears counter-intuitive to the nations COVID-19 downswing.
Destin & 30A Condos Sales Trend
The number of condo sales this year is down 11% compared to the same time period in 2019 as shown in the graph below.
Destin & 30A Condo Inventory Trend
Inventory is down 9% compared to the same time last year. This reduction is consistant with the inventory's long term downward trend. In June of 2010 the inventory was significanly more than double (2,442 units) the current inventory of 972 units.