30A Real Estate
30A West Metrics
Well it seems 30A West is tired of taking a backseat to 30A East and is making a run. Although average and median prices continue to lag far behind those of 30A East, the West had a much bigger year in appreciation.
Absorption rate is down to 7.32 months in December which is 31.65% lower than last December and for the year has dropped by 19.43% so we have less inventory to sell. We’ll need some sellers to step forward in 2016.
Average list price jumped 11.67% to $966,439 YOY and is up to $835,815 for the year which bested last year’s number by 16.60%. Average sale price was supportive of those increases with a YOY jump of 87.46% to $985,664 and for the year is up 24.21% to $692,288. Clearly there were a few big sales in the month.
Median List price went up 6.59% this December vs. last and for the year is up 11.14% to $527,900. Median sale price tracked these numbers by going up in December by 9.06% to $410,000 and for the year is up 15.89% to $465,000.
Average days on market is down in December by 14.89% to 160 days and for the year dropped 0.57%. Median days on market dropped 9.09% but is up by 23.40% for the year on 30A West.
There was a 17.1% drop in sales volume in December vs. last December but for the year end closed sales are up by 21.2% compared to 2014 with a total of 417 transactions vs. 344 last year. Pending sales YOY are down 4.2% and for the year are up 22.5% with a total of 435 vs. 355 last year.
Active listings were down in December by 13.7% and for the year of 2015 up 3.3% so there are slightly more active listings for the year vs. 2014. New listings in December 2015 are down 3.6% and for the year up 6.5% so in summary it seems a few more sellers came forward but not by much so with closed sales volume going up we’ll need more sellers listing properties to maintain a strong inventory or risk prices escalating even more.
|Dec-15||Dec-14||% Chg||2015 YTD||2014 YTD||% Chg|
|Average List Price||$966,439||$865,459||11.67||$835,815||$716,834||16.60|
|Median List Price||$574,500||$539,000||6.59||$527,900||$475,000||11.14|
|Average Sale Price||$985,664||$525,804||87.46||$692,288||$557,347||24.21|
|Median Sale Price||$410,000||$375,950||9.06||$465,000||$401,250||15.89|