Santa Rosa Beach Real Estate Metrics
Santa Rosa Beach Real Estate market is looking tentative in the month of January 2016!
Absorption rate has dropped to 6.41 months a 22.40 decline from last January. This means there is less inventory to sell and right at 6 months inventory is typically considered a steady healthy market.
Average list prices have risen 22.59% year-over-year to $1,036,210 from last year’s number of $845,244. Year-to-date the average list price has bolted upwards by 19.76% to $994,672 from last year’s $830,533. Average sale price is supportive of these increases in list price jumping 13.95% to $639,571 from last year’s average sale price of $561,249.
Median list price rose 17.13% in January for a year-over-year asking price of $597,000 to last year’s $509,700 and year-to-date there was a bump up of 12.19% to $589,000 to $525,000 in 2015. Oddly enough, median sale price did not match the increases in asking price dropping 12.62% to $367,000 from a median sale price of $420,000 in 2015. This tells me that there were some major outlier sales in the upper strata of the market impacting average sale prices while those numbers would not matter in the median price so much as we work towards the middle for those numbers. Typical of this market we get some dramatic swings in the averages with high-end sales.
Other Metrics
Average days on market jumped 33.53% for the year to 223 from last year’s 167 days. Median days on market on the other hand dropped 30.97% to 78 days from 113 days. In this case, there must be a few homes that sat a long time on the market bringing up the averages while the median gives a snapshot of the broader market middle.
Closed sales dropped 24.7% with 55 closings to last year’s 73 and pending sales sit at 98 vs. last year’s 124. Whoa!
Both active and new listings dropped quite a bit so with fewer closings this is what seems to be impacting the drop in absorption rate rather than brisk sales.
SUMMARY STATISTICS |
||||||
|---|---|---|---|---|---|---|
| Jan-16 | Jan-15 | % Chg | 2016 YTD | 2015 YTD | % Chg | |
| Absorption Rate | 6.41 | 8.26 | -22.40 | 6.41 | 8.26 | -22.40 |
| Average List Price | $1,036,210 | $845,244 | 22.59 | $994,672 | $830,533 | 19.76 |
| Median List Price | $597,000 | $509,700 | 17.13 | $589,000 | $525,000 | 12.19 |
| Average Sale Price | $639,571 | $561,249 | 13.95 | $639,571 | $561,249 | 13.95 |
| Median Sale Price | $367,000 | $420,000 | -12.62 | $367,000 | $420,000 | -12.62 |
| Average CDOM | 223 | 167 | 33.53 | 223 | 167 | 33.53 |
| Median CDOM | 78 | 113 | -30.97 | 118 | 116 | 1.72 |
