Market Report East 30A
Kaboom! 30A East real estate continues to break out with a continuing market upswing in most metrics.
Absorption rate is down 7.50% to 7.89 months from last year’s 8.53 months year-over-year. Year-to-date we are down to 7.62 months of inventory from 8.34 months in 2015 for an 8.63% drop. Although sales volume is down just a tad, so are new and active listings bringing inventory down with it.
Average list price jumped 19.96% to $1,531,012 from last year’s $1,276,314 year-over-year while year-to-date the asking price is up 19.50% to $1,431,698 to that of $1,198,037 last year. Average sale price didn’t disappoint either escalating 37.44% year-over-year to $1,048,711 from last year’s sale price of $763,036 and year-to-date we had growth of 9.48% to $995,954 vs. $909,755 in 2015.
Median list price rose 16.30% year-over-year to $999,000 over last year’s $859,000 and year-to-date expanded by 12.78% to $899,000 from that of $797,150 in 2015. Median sale price exploded year-over-year by 38.29% to $769,500 from $555,000 in 2015 and year-to-date is up 11.94% to $733,500 vs. $655,250 last year.
Average days on market dropped both year-over-year and year-to-date by 10.65% to 151 days vs. 169 days and 6.01% to 172 days from 183 days respectively.
Other Metrics
Sold listings dropped 4.1% from 73 in 2015 to 70 year-over-year and year-to-date is down 14.5% from last year’s 200 to this year’s 171 closed sales thus far.
Pending sales are down 7.5% to 99 in March 2016 vs. 107 this time last year and year-to-date are down 11.0% to 226 vs. 254 last year this time so although prices continue to escalate, volume sales seem to be moderating if only ever so slightly.
Active listings year-over-year have dropped 1.4% to 568 from 576 this time last year, while year-to-date we sit at 874 active listings against 906 in 2015 for a 3.5% decline.
New listings are UP 5.6% to 133 vs. 126 year-over-year and down year-to-date by 9.4% to 345 from last year’s 381.
It looks as though lower sales volume coupled with a drop in active listings are bringing down inventory.
SUMMARY STATISTICS |
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|---|---|---|---|---|---|---|
| Mar-16 | Mar-15 | % Chg | 2016 YTD | 2015 YTD | % Chg | |
| Absorption Rate | 7.89 | 8.53 | -7.50 | 7.62 | 8.34 | -8.63 |
| Average List Price | $1,531,012 | $1,276,314 | 19.96 | $1,431,698 | $1,198,037 | 19.50 |
| Median List Price | $999,000 | $859,000 | 16.3 | $899,000 | $797,150 | 12.78 |
| Average Sale Price | $1,048,711 | $763,036 | 37.44 | $995,954 | $909,755 | 9.48 |
| Median Sale Price | $767,500 | $555,000 | 38.29 | $733,500 | $655,250 | 11.94 |
| Average CDOM | 151 | 169 | -10.65 | 172 | 183 | -6.01 |
| Median CDOM | 108 | 47 | 129.79 | 91 | 68 | 33.82 |
