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.
SUMMARY STATISTICS |
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|---|---|---|---|---|---|---|
| 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 |
