30A Real Estate West Market Report September 2015

30A Real Estate

30A real estate West end continues to do well in September 2015. Absorption rate fell to 8.11 months for a 34.44% drop YOY and 9.22 months YTD for a 14.55 drop in the year thus far. Current inventory will sell out faster than the previous year as of today. The average 30A real estate West end list price increased YOY 16.18% and YTD 15.36 while average sale price jumped 16.81% YOY and 22.91% for the year. Median list price was moderate with a 2.79% increase YOY and 9.60% YTD with an enormous jump in median sale price of 20.16 YOY and 16.54% YTD. Average days no market fell by 29.39% YOY but for the year are up by 9.64% so properties although selling faster this September than last September are sitting longer for the year than last. Median days on market is up year-over-year by 20.88% and for the year 48.19% so wow, properties really are sitting longer but sellers aren’t buckling as asking and sales prices continue upwards. Sales for the month were 32 vs. 40 for September last year, and 321 for this year vs. 254 for last year for a 25.4% volume increase so again, although properties are sitting longer, more are selling. Pending sales for the month are 34 vs. 36 for this time last year and 351 year-to-date vs. 268 last year and a 31% jump so the pipeline is full for closings. Active listings for this month stand at 283 vs. 332 last year this time and 763 for the year exactly matching last year’s number so sellers aren’t rushing to sell compared to last year. New listings for the month 30A real estate West were only 33 vs. 61 last year in September and 476 for the year vs. 468 last year. Very balanced compared to last year and I think that is good!