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.
The 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.
The 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%. The 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.
The 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 the market are down in December by 14.89% to 160 days and for the year dropped 0.57%. Median days on the market dropped 9.09% but is up by 23.40% for the year on 30A West.
Other Metrics
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.
SUMMARY STATISTICS |
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|---|---|---|---|---|---|---|
| 15-Dec | 14-Dec | % Chg | 2015 YTD | 2014 YTD | % Chg | |
| Absorption Rate | 7.32 | 10.71 | -31.65 | 8.79 | 10.91 | -19.43 |
| Average List Price | $966,439 | $865,459 | 11.67 | $835,815 | $716,834 | 16.6 |
| 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 |
| Average CDOM | 160 | 188 | -14.89 | 174 | 175 | -0.57 |
| Median CDOM | 100 | 110 | -9.09 | 116 | 94 | 23.4 |
