Posts from October 2021
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Destin Families Rent out Swimming Pools, Backyards
The fee-based sharing of their backyard retreats by some Destin property owners has caught the attention of City Councilwoman Prebble Ramswell.
"Did you know people are now renting out their backyards and pools by the hour?" Ramswell wrote in the latest edition of her quarterly newsletter, "The Ramswell Review," that highlights various city issues.
"I hav...
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Destin Embarks on Harbor Carrying Capacity Study
The city of Destin has partnered with the Army Corps of Engineers to undertake a Carrying Capacity Study through the Corps of Engineers' Planning Assistance to States Program.
The Harbor Capacity Study will, among other things, focus on the following three goals:
• Protect the environmental health of the harbor and surrounding waterways.
• Promote safety and enjoyment on our local waters.
• Promote the economic viability of businesses operating on or along...
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Underwater and Beach Cleanup Planned for Okaloosa Island
More than 50 divers from across the region are expected to put their scuba skills to use Sunday to removing monofilament, fishing tackle and other debris from the underwater areas surrounding the Okaloosa Island Fishing Pier.
The pier is partnering with the Gulfarium C.A.R.E. Center, Angler's...
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$4.7M Project to Bring New Business, Opportunity to U.S. 331
Ground was broken this week in Walton County for a $4.7 million water and sewer infrastructure improvement project along and near U.S. Highway 331 aimed at boosting residential and commercial development along part of the road corridor and enhancing the Northw...
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October 2021 Market Report
To describe the real estate market on the Emerald Coast in the last 18 months as brisk would be an understatement. It has been red hot. Since the lifting of the short-term rental ban in May 2020, the market has seen a rapid growth in the number of transactions. This growth subsequently reduced the amount of available inventory. The graph below (Chart #1) shows the number of properties listed for sale (orange line) and the number of pended transactions (turquoise line) for each month during the last three years through 9/30/21.
As the chart indicates, the number of pended transactions jumped in June 2020. Most of this increase was from pent up demand from buyers that could not view homes during the COVID shutdown in March and April. This demand outpaced the number of new listings in the market causing a steep decline in inventory tha...