Destin Real Estate News

Investment Real Estate in the Destin real estate market is a bit different than investing in a more urban market. After all this is Emerald Coast real estate where you're on the beach and there are plenty of condominium resorts and homes to choose from.

The real estate news is that Emerald Coast real estate has changed from a sellers market to a buyers market. For the past five years, through mid-2005, waterfront property on the Gulf of Mexico in Destin appreciated at an average of two percent a month. The volume of sales has slowed, but the Destin real estate market remains active. Hundreds of new homes, townhouses, and condominiums are being built.

The State of Florida's economic office estimates that 1,100 people a day are now moving to Florida. There were 1,000 new residents a day flocking to the State during 2004. The Florida panhandle is an area of rapid growth. The real estate news is there are more than 18,000 homes and condominiums planned for Emerald Coast real estate in nothern Okaloosa County.

A few years ago the real estate news on Emerald Coast real estate was economists predicting a pattern of growth for the Destin market. Builders are still constructing new homes and condominiums even as the Destin real estate market changes.

Real Estate economists, including Jim Brevard, who has consulted for many of the nations wealthiest families,say the growth is fed by the 86 million baby-boomers in the nation. Brevard says he expects the growth to last many more years in Destin.

A survey conducted more than a year ago indicated that 83% of the baby-boomers surveyed said their #1 goal in the next 5 to 10 years was to buy a second home or resort property. A third of all real estate transactions in 2004 nationally were second home or investment buyers, according to the National Association of Realtors.

Many more will come to Destin and South Walton County and invest in Emerald Coast real estate, where you can enjoy white sandy beaches and relax in the sun. If you'd like more real estate news on how to invest in Destin or South Walton County just contact us.

Mike Colpitts
(850) 622-1016