Sandestin/Miramar Real Estate Market Report November 2015

Sandestin/Miramar Real Estate Market Report November 2015

Sandestin/Miramar Real Estate Metrics

Sandestin/Miramar real estate plummeted in November although sellers don’t seem to notice as they continued to go up in asking prices. The absorption rate dropped big time by 31.07% year-over-year and 20.76% year-to-date so that’s a good thing and not really consistent with the drop in sale prices but we shall see if the price drops are a trend or blip in the road. The average list price in Sandestin/Miramar real estate jumped by 15.19% year-over-year and 6.23% for the year while average sale price dropped a big 18.06% year-over-year but is only down 2.70% year-to-date. If the trend continues year-to-date prices will suffer and interesting to see for the year we are in the negative for average appreciation. The median list price is up 9.25% year-over-year and up 3.48% compared to this time last year while median sale price for November compared to last November is down 4.36% and year-to-date is up 3.29% so I think overall as the median generally is the best barometer we can say the market is up just a bit albeit not by much. Average days on the market are down 7.36% year-over-year and down 6.91% for the year while median days on market are up 9.15% for November and up 6.67% for the year. There were 61 sales in November this year vs. 69 last year and 885 for the year vs. 738 last year total so we are up by 19.9% in volume sales. Pending sales stand at 60 for November vs. 80 last year in November and year-to-date are up 13% so clearly sales are cooking pretty well in Sandestin/Miramar real estate. Active listings stand at 737 in November vs. 861 last November and 2098 for the even with last year’s total of 2098. How often does that happen? New listings for November are 74 vs. last year’s 83 at this time and 1310 for the year vs. last year’s 1265.


  Nov-15 Nov-14 % Chg 2015 YTD 2014 YTD % Chg
Absorption Rate 9.05 13.13 -31.07 10.65 13.44 -20.76
Average List Price $637,047 $553,031 15.19 $556,432 $523,782 6.23
Median List Price $425,000 $389,000 9.25 $388,000 $374,950 3.48
Average Sale Price $411,850 $502,603 -18.06 $435,243 $447,305 -2.7
Median Sale Price $329,000 $344,000 -4.36 $345,000 $334,000 3.29
Average CDOM 239 258 -7.36 202 217 -6.91
Median CDOM 167 153 9.15 112 105 6.67

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