DESTIN HOTSHEET-todays brand new listings | DESTIN SOLD-in last month | DESTIN PENDING-under contract MLS Search | The Wired Buyer | The Wired Seller | About Destin | Local Market Pulse | Destin Links Destin Market Pulse Destin, FL June 18, 2008- The June Grass is here on the beach which means the summer season is upon us. The thermometer is rising into the 90's everyday and that is not the only thing heating up- the real estate market has my office hopping! Newman-Dailey did over $8,000,000 in closings in May! That is our best month in 2.5 years! And it is not just Newman-Dailey. Check out this overall activity: Destin single family homes sold since May 1 (58): Report Throw in another 48 that are currently under contract: Report and you can see that the single family homes are moving. But that is not where the real action is. Condo sales are on fire! Look at these facts: Destin Condos sold since May 1 (72): Report Toss in another 58 under contract scheduled to close soon: Report That is 130 Destin condos that have closed in the last month or will close soon! Also, the short sales ratio to active listings dropped for the third straight month to 6.7%. I still firmly believe that the short sale ratio has to drop before we'll ever see the market stop heading south: Destin Single Family Homes Total Active Listings Disclosed Short Sales % April 8 1048 74 .07 May 13 1065 73 .068 June 18 1044 70 .067 Although not much of a decline in short sales, it is indeed a leveling off. Have we found bottom? If we continue to see a decline in the short sale ratio then we are certainly on our way to finding bottom. Remember, only 3 things can happen in a short sale: They sell before foreclosure. They sell at public auction at the county courthouse steps. They are foreclosed upon and put back on the active market as a bank owned property or REO. *All statistics are from the Emerald Coast Association of Realtors. Kerry McNulty, The Wired Agent cell: 850.642.1081 toll free office: 800.225.7652 Receive a week's worth of the HOTSHEET - Destin's brand new listings and PRICE CHANGES emailed to you every Monday: Name: Email: Previous Market Pulse articles: May 13, 2008 April 8, 2008 February 13, 2008 January 14, 2008 December 19, 2007 October 3, 2007 August 1, 2007 July 6, 2007 June 2, 2007 May 1, 2007 April 2, 2007 March 1, 2007 January 16, 2007 November 1, 2006 October 12, 2006 August 16, 2006 June 27, 2006 April 8, 2006 March 31, 2006 Feb 21, 2006 Jan 3, 2006 Oct. 10, 2005 Sept. 16, 2005 Copyright © 2008 TheWiredAgent.com -- ALL RIGHTS RESERVED.