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Destin, often referred to as the "luckiest fishing
village", is a town in the Florida Panhandle located
between the Gulf of Mexico and the Choctahatchee Bay.
To the west is Fort Walton Beach and Pensacola and to the
east is Santa Rosa Beach and Panama City Beach. Destin is
a great vacation spot with many condos, townhomes, hotels,
and condo hotels on or near
the most beautiful white sand beaches. Many people buy second
homes here.
Are you thinking of buying a piece of Destin Florida Real
Estate? With a population just over 9,000, Destin offers
various types of housing including high rise
condos, low rise and mid rise developments, resorts, second
homes, and more. Over $800 million worth of real estate will
change hands in 2007.
Destin Florida real estate holds a total of 10,599 housing
units, with only 4877 of them occupied. This leaves over
5,000 vacant housing units in Destin FL. Reason being is Destin
is a major Florida
Vacation destination with over 66% rental rate and only
a 5% owner rate.
Destin Florida real estate prices soared upward until
the spring of 2005 when a leveling of prices began. While
some sellers have lowered their prices, most seem to be holding
the listed price but will now consider negotiating the actual
sale price.
Destin real estate has an excellent supply of gulf-front
condos and waterfront
homes, gulf-view condos, and homes further inland. Destin
is great for full-time living and for short-term vacation
rentals.
Destin Realtors are hard pressed to find adequate inventory
to meet investor demands for condo's, homes, beach houses,
lots and commercial property. It's not uncommon for new developments
to sell out within hours of the time they're announced.
Pre construction
investing has been popular with many condo investors. Investing
in new developments on a pre-construction basis allows investors
to reserve a Destin Florida condo unit prior to construction
with little or no cash required at signing. As construction
progresses, one or more additional payments may be required
but the bulk of the purchase price is not due until construction
is complete.
What is the median price asked for housing units?
Prices vary based on the size, amenities and location of the
Destin real estate property, but most are in the $123,100
range. There are also some Fractional
Ownership opportunities in the Destin area that are becoming
very hot.
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Florida Golf's City of the Month
