The 30A Market Continues To Thrive.
The 30A real estate market keeps on-a-rockin’! They say all good things must come to an end and I’m sure they do at times or at least moderately but this market continues to illustrate buyer’s love of 30A and its beautiful nature and lifestyle. The absorption rate dropped by 16.56% year-over-year (YOY) and 15.27% year-to-date (YTD) meaning it would take less time to sell all current inventory this October than last October as well as for this year vs. last. The average list price jumped a full 22.51% YOY and 8.95% YTD while the average sale price exploded by 36.49% YOY and 12.46% YTD. Wow! The median list price is up 19.59% YOY and 2.77% for the year with the median sale price up 18.17% YOY and 2.05% for the year so although averages are way up, median numbers support a bit more moderated market taking out the extreme highs and lows. This is good. Average days on the market dropped YOY but are up for the year by 5.23% while median days on the market are way up YOY and 7.14% YTD so it looks like buyers are taking longer to buy than last year in general but that isn’t having a deleterious effect on pricing. Sales volume dropped 4.6% with 62 closings for the month vs. 65 last October and is up for the year by 10.4% with 742 sales this year vs. 672 sales for last year. Pending sales YOY were down 13.5% with 64 vs. 74 and are up 10.3% for the year with 816 to 740. Active listings were up 5.4% YOY but only up 0.6% for the year while new listings were down by 27.1% YOY and are up 1.9% for the year. This should keep prices moving upward as inventory shrinks.
As for 30A West, it is a little different story. The absorption rate is down YOY 36.43% and 16.90% YTD. The average list price is up 19.72% YOY and 14.85% YTD while the average sale price is down 0.42% YOY but up 19.80% YTD. The median list price is up 10.35% YOY and 9.60% for the year with the median sale price dropping 3.81% YOY while being up 14.27% YTD. So you can see unlike the East, prices are strong for the year but down a bit for October this year vs. last. Average and median days on the market are down YOY but up for the year so sales were a bit quicker this October vs. last but still taking longer for the year vs. last. Sales volume is up YOY 17.9% with 33 vs. 28 closings this October vs. last, and up 25.5% YTD with 354 vs. 282 this time last year. This points to an ever-escalating strong market. Pending sales YOY are dead even 37 YOY and up 26.9% YTD with 387 this year to 305. Active listings are down 21.5% YOY and up just 0.9% YTD with new listings up 18.6% YOY and up 2.9% for the year so it does not seem that sellers are rushing to sell. This bodes well for a continued bolstering of prices on the West of 30A.
SUMMARY STATISTICS |
||||||
|---|---|---|---|---|---|---|
| Oct-15 | Oct-14 | % Chg | 2015 YTD | 2014 YTD | % Chg | |
| Absorption Rate | 7.56 | 9.06 | -16.56 | 8.1 | 9.56 | -15.27 |
| Average List Price | $1,523,104 | $1,243,203 | 22.51 | $1,213,386 | $1,113,754 | 8.95 |
| Median List Price | $995,000 | $832,000 | 19.59 | $780,000 | $759,000 | 2.77 |
| Average Sale Price | $1,084,921 | $794,888 | 36.49 | $991,569 | $881,723 | 12.46 |
| Median Sale Price | $679,500 | $575,000 | 18.17 | $672,500 | $659,000 | 2.05 |
| Average CDOM | 159 | 184 | -13.59 | 181 | 172 | 5.23 |
| Median CDOM | 97 | 75 | 29.33 | 90 | 84 | 7.14 |
SUMMARY STATISTICS |
||||||
|---|---|---|---|---|---|---|
| Oct-15 | Oct-14 | % Chg | 2015 YTD | 2014 YTD | % Chg | |
| Absorption Rate | 7.47 | 11.75 | -36.43 | 9.05 | 10.89 | -16.90 |
| Average List Price | $968,495 | $808,936 | 19.72 | $824,832 | $718,201 | 14.85 |
| Median List Price | $585,950 | $531,000 | 10.35 | $525,000 | $479,000 | 9.60 |
| Average Sale Price | $727,452 | $730,545 | -0.42 | $667,679 | $557,321 | 19.8 |
| Median Sale Price | $442,000 | $459,500 | -3.81 | $462,500 | $404,750 | 14.27 |
| Average CDOM | 150 | 176 | -14.77 | 179 | 167 | 7.19 |
| Median CDOM | 91 | 98 | -7.14 | 118 | 86 | 37.21 |
