January 2016 Newsletter
We would like to thank you for your support and business this past year and are pleased to announce the opening of our new company, Destin Lifestyles Real Estate located in Grand Boulevard next to Sandestin. We are excited to welcome Tyler and Heather Jenkins to our team of professionals.
It was a record year for sales of homes and condos from Destin to 30A. One of the highest closed sales in 2015 was our listing located in Stallworth Preserve on 30A for $6,195,000. The real estate marked gained momentum in the spring with some properties increasing in value over 26%. In 2015, sold volume for townhomes, condos and single family residential represented $1,964,492,393 which is an increase of 22% from last year. The total units sold in all three categories was 3,245 which is an increase of 13%.
According to Freddie Mac, the average interest rate in December was 3.96% which was an increase from 3.86% in December 2014 but remains well below its historic average of 6%.
Residential new construction continues to be in high demand with lots selling at an all-time high. The vacation short term rental numbers increased over all in 2015 and the category remains strong for potential investors.
If you would like more information on real estate trends in our market area or if you are interested in buying or selling property this year, please contact us.
Happy New Year!
Tracey and Leslie
Destin, Miramar Beach and 30A Real Estate Market 2015
- Total Dollar Volume Increased 22%
- Total Number of Sold Transactions 3,245 , 13% Increase from 2014 Year End
- Average Sales Price +18%
- Decrease in Inventory 2%