Destin Florida Real Estate

Destin, often referred to as the "luckiest fishing village", is a town in the Florida Panhandle located between the Gulf of Mexico and the Choctahatchee Bay. To the west is Fort Walton Beach and Pensacola and to the east is Santa Rosa Beach and Panama City Beach. Destin is a great vacation spot with many condos, townhomes, hotels, and condo hotelson or near the most beautiful white sand beaches. Many people buy second homes here.

Are you thinking of buying a piece of Destin Florida Real Estate? With a population just over 9,000, Destin offers various types of housing including high rise condos , low rise and mid rise developments, resorts, second homes, and more. Over $800 million worth of real estate will change hands in 2007.

Destin Florida real estate holds a total of 10,599 housing units, with only 4877 of them occupied. This leaves over 5,000 vacant housing units in Destin FL. Reason being is Destin is a major Florida Vacation destination with over 66% rental rate and only a 5% owner rate.

Destin Florida real estate prices soared upward until the spring of 2005 when a leveling of prices began. While some sellers have lowered their prices, most seem to be holding the listed price but will now consider negotiating the actual sale price.

Destin real estate has an excellent supply of gulf-front condos and waterfront homes, gulf-view condos, and homes further inland. Destin is great for full-time living and for short-term vacation rentals.

Destin Realtors are hard pressed to find adequate inventory to meet investor demands for condo's, homes, beach houses, lots and commercial property. It's not uncommon for new developments to sell out within hours of the time they're announced.

Pre construction investing has been popular with many condo investors. Investing in new developments on a pre-construction basis allows investors to reserve a Destin Florida condo unit prior to construction with little or no cash required at signing. As construction progresses, one or more additional payments may be required but the bulk of the purchase price is not due until construction is complete.

What is the median price asked for housing units? Prices vary based on the size, amenities and location of the Destin real estate property, but most are in the $123,100 range. There are also some Fractional Ownership opportunities in the Destin area that are becoming very hot.