Hi all. I have been in Florida real estate for over 4 years and it has been a roller coaster. We all know that Destin real estate is in a significant downturn. That is great news for the Destin Condo market. The deals have never been better. It is interesting to talk with buyers looking for the good deal in Destin. They want to know when the market will hit bottom. I tell them that it has hit, especially for some particular condo complexes here in Destin.
A Sundestin Condo sold in 2004 for $417,000, is now on the market for $299,000. A Sterling Shores unit that sold in 2004 for $550,000 is now on the market for $369,500. And the list could go on and on. There are beautiful Gulf front condos that are an absolute steal!
We are seeing some smart buyers recognizing that fact and are starting to jump back into the market. They look at the stock market and banks and deciding that investing in real estate is where they need to be for now. With these historic low interest rates and low prices, anyone that has investment money is re-looking condos and vacation properties.
Destin, being within a 5 hour drive from Atlanta and neighboring areas, has always been a top vacation spot. We all know it is so much easier and more economical for vacationers to pile into the family car than get on a plane. That’s why Destin’s location on Florida’s Panhandle, has always been more convenient than points farther south in Florida. Owning your very own condo is now extremely affordable too. The season is just starting. We have Spring Breakers just around the corner. It is time for our coast to be rediscovered once again!