As of today there are 448 Gulf Front Condos for sale in Destin 32541 zip code area and Miramar Beach zip code area of 32550. That is a lot of inventory.
The lowest priced one is just $75,000. The size of a hotel room with 200 s.f. of space at the St. Maarteen at Silver Shells Towers complex. This works out to $375 per s.f. of space.
Average price per square foot overall for all of the 448 listings comes out to $425 per square foot of space for a gulf front condo today. The Median Price of a Gulf Front condo is $575,000.
Out of the 448 condos for sale only 8 of the are REO lisitngs or Real Estate Owned. 27 of the listings are short sales. Let’s get to the nuts and bolts of the inventory. The majority of all of the listings are simply sellers looking to sell.
There are currently 57 Gulf Front Condos that are awaiting a closing date and already under contract. Of the ones under contract the average price per square foot is $321 and the Median Price is $419,000. Do you see the trend? The best deals are selling.
There were 33 closed transactions in this category in the month of March alone. At this rate we still have a 58 week supply of Gulf Front condos available. My main point here and I do have a point is that this is trending towards a more stable market. When this occurs, prices will trend upward as inventory drops off.
Don’t wait too long if you are in the market. The best ones are being sold this weekend. I am here to assist.
Kelly Klein, Lifeguard Real Estate, Inc. 850-420-2480
Your Buyer’s Representative