The National Market:
The real estate market continues to push through today’s “crappy trinity” of elevated interest rates, international conflict, and rising fuel prices. Mortgage rates did improve this week after climbing to some of the highest levels seen in over a month. Markets responded positively to calmer conditions in the Middle East. This matters because calmer energy markets can help ease some of the pressure on mortgage rates.
Nationally, inventory levels continue to improve across much of the country, giving buyers more choices and reducing some of the urgency that defined the post-COVID market.
While certain regions are still experiencing modest price appreciation, others are seeing longer marketing times and selective price adjustments. The market has become increasingly localized and segment-driven, with pricing, presentation, and perceived value playing a larger role than at any point in recent years.
The Local Market:
According to MLS data, aside from a 22% decline in closed single-family home sales in the Destin/Miramar Beach market compared to the previous month, both sales activity and average sold prices across most local segments remain relatively consistent with April 2025 levels. Countywide statistics, however, continue to reflect stronger year-to-date condo activity, with closed condo sales up +35.5% in Okaloosa County, +52.3% in Walton County, and +29.7% in Bay County. Current inventory levels stand at approximately 11.4 months for condos and about 8 months for single-family homes.
Compared to April 2025, single-family home inventory remains virtually unchanged, although the overall number of homes sold has declined 14.3%. The most notable shift continues to be within the condo market, where inventory has decreased 18.1% year-over-year while closed condo sales have increased 22.2%, suggesting buyers are continuing to respond to improved pricing opportunities and growing inventory stabilization.
Regardless of current market conditions, the long-term outlook for the Emerald Coast remains positive, and the prospects for a stronger and more balanced market in 2026 continue to improve.
A summary of April Average Sold Prices:
Single Family Condo
30-A $2,504,950 (102) $1,766,938 (27)
Destin/Miramar Beach $1,551,113 (45) $ 620,846 (65)
Ft. Walton Beach $ 458,310 (72) $ 384,203 (18)
Ed & Terri Smith Team
Making Business a Pleasure ℠