Rosemary Beach North Market Report October 2015

Rosemary Beach North Market Report October 2015

Luxury Real Estate

Rosemary Beach North declined in multiple categories for the month of October 2015. Absorption rate dropped 15.97 year-over-year and for the year is down 7.33% so it would take less time to sell current inventory. It seems that less inventory is coming to market as sales close. Average list price improved by 11.14% and is up 4.60% for the year but average sale price dropped by 22.20% year-over-year so I have to wonder how long sellers can continue going up on asking prices. Year-to-date average sale price is still up 5.40 but with more year-over-year drops that year-to-date should follow downward. Median list price was down 0.67% year-over-year and remains up 6.23% for the year, however, the 29.17 year-over-year drop in average median sale price year-to-date now stands at 20.60. This again points toward eventual drops in asking prices if the trend continues. Average days on the market dropped 58.82% year-over-year and are down 40.09% for the year while median days on market dropped 50% year-over-year but are up 20% for the year.

Additional Metrics

Closed sales were 3 for the month and 4 last year in October for a 25% decrease while for the year sales are 37 vs. 35 last year for a 5.7% upswing. One has to wonder if we will be best last year with only two months to go. Pending sales stand at 4 in October vs. 3 last year so this bodes well for next month’s closed sales numbers. For the year, pending sales stand at 40 vs. 37 last year and up 8.1%. Year-over-year active listings are 21 vs. 25 last year for a 16% drop and 73 vs. 74 last year in total for a 1.4% decrease. New listings were 5 this month vs. 4 last October and 47 this year vs. 49 last year a 4.1% drop so it seems fewer sellers are coming to market. This would be more consistent with prices holding strong as supply diminishes in Rosemary Beach.


  Oct-15 Oct-14 % Chg 2015 YTD 2014 YTD % Chg
Absorption Rate 6 7.14 -15.97 6.07 6.55 -7.33
Average List Price $1,566,905 $1,409,880 11.14 $1,366,112 $1,306,008 4.60
Median List Price $1,485,000 $1,495,000 -0.67 $1,365,000 $1,285,000 6.23
Average Sale Price $885,000 $1,137,500 -22.2 $1,171,039 $1,111,021 5.40
Median Sale Price $850,000 $1,200,000 -29.17 $1,200,000 $995,000 20.60
Average CDOM 91 221 -58.82 127 212 -40.09
Median CDOM 49 98 -50.00 102 85 20.00

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