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Destin Market Watch

Destin Market Watch

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John Baldree of Mainsail Realty is a licensed real estate salesperson and also owns a mortgage company. He has worked in the real estate industry in Florida and in Colorado over an extended period of time and has made the Florida panhandle his home since 2019. Baldree has immersed himself in understanding market trends and the forces that drive them in this burgeoning coastal region. “The market here is strong, for primary homes as well as for second homes and vacation properties,” he says. “The past few years have been full of change, much of it in reaction to the pandemic, and its impact on how individuals and businesses had to change and adapt to new ways of working. As people and businesses have adapted to working remotely, and to a burgeoning interest in the south and southeast as a permanent home rather than just as a vacation destination, we have seen a significant increase in sales of residential property. It is definitely a quality of life issue.”

Baldree notes that the significant and ongoing migration to the southeast, notably to coastal areas, is largely a quality of life issue. “People have learned over the past several years that they don’t have to live where they work, which has been the catalyst for a significant number of relocation sales. We are seeing solid growth, not crazy growth, as the market does some stabilizing, and interest rates keep buyers in check.” At this time, potential speculative sellers are not highly motivated, at least in part because rising interest rates make for limited new inventory going on the market. “Keeping prices and values in sync, with something like a 2% to 4% annual appreciation, provides for a slow and steady growth,” he states. “In addition, new insurance providers are entering the local market, which serves to increase competition and drive down costs, thus stabilizing the insurance market. Inventory remaining stable, but not increasing, helps to keep prices strong.”

The increased focus on the areas along the Gulf of Mexico is not a short-term phenomenon, Baldree says. It represents a mind shift among various demographics, a conscious quality of life issue, and the realization that this coastal market is far more than a vacation destination. “I believe that, with reasonable checks and balances in interest rates, insurance rates, and availability of quality housing stock, we can continue to attract buyers to this market for the long term,” he notes.

Mainsail Realty Company specializes in residential real estate in Destin, Sandestin, WaterColor, Santa Rosa Beach, Highway 30A, and Miramar Beach. It is among the panhandle area’s oldest locally owned and operated Florida real estate firms and boasts skilled professional staff and extensive local market knowledge.


John Baldree
Licensed Real Estate Associate
Mainsail Realty Company

12815 Emerald Coast Parkway Suite 106
Miramar Beach Florida

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