Destin Pointe 3rd Quarter Market Report

Destin Pointe 3rd Qtr.
Market Report
Presented by
Chip & Caroline Wasson

A LETTER FROM
CHIP & CAROLINE
2020 has created both challenges and opportunities. The year
began where 2019 ended, with shrinking inventory edging prices
higher. That all changed with the start of the second quarter,
bringing a reversal in sales and values when our country realized
that the pandemic was not just an issue for other parts of the
world but one we would have to contend with, as well. In April,
real estate transactions were few and far between; and some discounts
were realized for those buyers that were ready, willing,
and able to act. By the time May and June rolled around, however,
all of that had changed, as the total sales volume for pending and
sold properties in Destin Pointe were up 35% year over year at
the end of the second quarter. While the frenetic pace leveled off
some during the third quarter, sales remain strong, and the total
number of transactions is up over 55% through the same time
period compared to 2019.
The surge in demand can be attributed to several key factors.
With people discovering the ability to work from anywhere, many
are choosing to move away from crowded urban areas to live out
their dream of living on the beach. While some are choosing to
make the move permanent, others are choosing to pull money
from the Stock Market to invest in a second home, preferring a
tangible asset that they can enjoy rather than experiencing the
daily roller coaster ride of watching their 401k rise and fall. Another
market segment includes those families that have been reminded
how precious life is and have realized that they don’t have
to wait until retirement to begin enjoying life. They’re choosing to
make an investment today that will create memories now and for
years to come.
Regardless of the reason, we are thankful for our island community
and for the visitors that make Destin Pointe their home away
from home. Inventory of available properties has shrunk, making
it a seller’s market. If you’ve considered selling your property, give
us a call today for a complimentary market analysis.
Chip
Caroline

DESTIN POINTE
H O M E S , C O N D O S A N D L A N D
NUMBER OF SALES
2019 9
2020 16
31
DESTIN POINTE (UNITS SOLD)
2020 Closed Through The 3rd Quarter:
$15,517,300
Caroline & Chip Wasson 3RD QUARTER MARKET REPORT 2020

DESTIN POINTE
H O M E S , C O N D O S A N D L A N D
3RD QUARTER SINGLE FAMILY HOMES SALES
AVERAGE DAYS ON MARKET
Down
40%
SOLD VOLUME
Up
30%
HOMES CONDOS VACANT LOTS
2019 2020 % 2019 2020 % 2019 2020
NUMBER OF SALES 5 10 100% 4 5 +25% 0 1
SOLD VOLUME $9,721,180 $13,343,300 37% $1,482,000 $1,969,000 +33% 0 $205,000
AVERAGE SALES PRICE $1,948,200 $1,334,300 +37% $370,500 $393,000 +6% 0 $205,000
AVERAGE SALES PRICE
PER SQ.FT
$585 $436 -32% $360 $434 +21% - -
LIST PRICE TO
SALES PRICE RATIO
93% 94% +1% 96% 98% +2% 0 79%
AVERAGE DAYS ON MARKET 222 134 -40% 301 173 -43% 0 1,244
Caroline & Chip Wasson 3RD QUARTER MARKET REPORT 2020

2 0 2 0 S I G N I F I C A N T S A L E S
SOLD $3,000,000
60 Lands End Drive | Destin
6 BD | 5 BA | 4,683 SF
SOLD $2,995,000
61 Lands End Drive | Destin
7 BD | 6.5 BA | 5,538 SF
SOLD $1,550,000
3596 Rosalie Drive | Destin
4 BD | 5.5 BA | 3,164 SF
SOLD $699,000
3586 Waverly Circle | Destin
3 BD | 3.5 BA | 4,064 SF
Caroline & Chip Wasson 3RD QUARTER MARKET REPORT 2020

2 0 2 0 S I G N I F I C A N T S A L E S
SOLD$435,000
3580 Waverly Circle | Destin
2 BD | 2 BA | 1,120 SF
SOLD $525,000
480 Gulf Shore Drive, UNIT 503 | Destin
2 BD | 2 BA | 895 SF
SOLD $305,000
480 Gulf Shore Drive, UNIT 408 | Destin
1 BD | 1 BA | 800 SF
SOLD $400,000
480 Gulf Shore Drive, UNIT 201 | Destin
2 BD | 2 BA | 1,050 SF
Caroline & Chip Wasson 3RD QUARTER MARKET REPORT 2020

Caroline & Chip Wasson
480 Gulf Shore Drive
Destin, FL 32541
Chip’s Mobile Phone: (850) 865-4016
Caroline’s Mobile Phone (850) 376-7625
chip@carolineonthecoast.com
caroline@carolineonthecoast.com
www.carolineonthecoast.com