30A East Real Estate Market Report January 2016

30A East Real Estate Market Report January 2016

30A East Real Estate Stats

Let the good times roll! 30A East real estate continues to crush it across the board. And why not? Other than energy companies most are doing well especially those at the top and they need somewhere to put the extra cash other than the stock market. Why not 30A East real estate? It rents well. Typically appreciates over time; in this case a short period of time. And best of all you can use it, unlike a stock or bond. Absorption rate fell to just 7.09 months dropping by 12.25% in January compared to last January and is the same for the year thus far of course with only one month in our back pockets. Average days on the market was the outlier for this month increasing substantially by 102.36% to 257 days while the median jumped 125.81% to 140 days year-over-year and sits at 173 days for the year. This is just under six months to sell so not that bad in the normal course of real estate sales timelines. Now the really good stuff; pricing. The average list price in January went up 21.02% to $1,541,111 from last year’s January number of $1,273,458. The average sale price didn’t disappoint relatively growing by 16.57% to $1,014,665. Obviously, there is a big disconnect here in price point but the percentages are looking good for owners. The median list price rose 8.84% to $925,000 in January 2016 while the median sale price escalated 9.45% to $738,500.

Other Metrics

Sold listings dropped from 50 last January to 32 this January while pending listings dropped to 54 from 84. That is major! If this continues I suspect prices would moderate dramatically. Active listings reside at 522 in January vs. last year’s 533 and new listings were 101 vs. last year’s 115. If we continue having a marked drop in new listings this should bode well for supporting higher prices with less inventory but if volume sales continue to drop dramatically this could damper the mood a bit and hold pricing stable. 30A is an oddball market though and hard to put a finger on as homes in the same neighborhood can be dramatically different. Buyers usually buy here simply because they love it and want a home on 30A. 


  Jan-16 Jan-15 % Chg 2016 YTD 2015 YTD % Chg
Absorption Rate 7.09 8.08 -12.25 7.09 8.08 -12.25
Average List Price $1,541,111 $1,273,485 21.02 $1,482,446 $1,224,918 21.02
Median List Price $925,000 $849,900 8.84 $899,900 $815,000 10.42
Average Sale Price $1,014,665 $870,449 16.57 $1,014,665 $870,449 16.57
Median Sale Price $738,500 $674,750 9.45 $738,500 $674,750 9.45
Average CDOM 257 127 102.36 257 127 102.36
Median CDOM 140 62 125.81 173 62 179.03

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