Seaside Real Estate Statistics
Seaside Real Estate statistics for February 2016 continue to show strength in sale prices but not so hot in closed volume or pending sales.
Absorption rate dropped almost in half by 42.33% to 6.92% from 12 months last year and year-to-date is down 50.44% to 5.62 months from last year’s 11.34 months. That’s a huge shift.
The average list price dropped 32.55% to $3,395,567 against last year’s price of $2,561,806. The average sale price is tracking these increases well by going up in February 6.90% to $1,550,000 from last year’s price of $1,350,000 and year-to-date has risen 27.59% to $1,850,000 from a 2015 price of $1,450,000.
The median list price is showing no quarter-to-average by jumping 55.15% to $2,750,000 against last year’s $1,772,500. Year-to-date we have an increase in asking price of 31.02% to $2,322,500 from that of $1,772,000 in 2015. The actual sale prices are matching that of the average with a 6.90% bump year-over-year and a 27.59% increase year-to-date to $1,850,000 from $1,450,000 respectively.
Average days on market dropped 10.83% to 955 days from last year’s 1071 days in February and year-to-date is down 44.35% to 596 days from last year’s 1071 days. Median days on the market stand at 955 for the month of February vs. 331 last year for an increase of 188.52% and year-to-date is up 17.79% to 596 days from last year’s 506 days.
Other Metrics
Sold listings really took a hit in February 2016 and stand at 1 vs. 4 last year so volume is dropping while year-to-date we have 2 closed sales vs. 4 last year for a 75% decrease. Pending sales were 0 in February vs. 3 last year for a 100% decline and year-to-date sit at 1 vs. last year’s 6 pending sales for an 83% drop. This does not bode well for close sales in the future and let’s hope this isn’t a trend.
Active listings were 15 in February and last year were 18 at this time. Year-to-date we have 20 active listings to last year’s 24 for a 16.7% drop. New listings were 7 vs. 5 in 2015 and 10 for the year vs. last year’s 8.
SUMMARY STATISTICS |
||||||
|---|---|---|---|---|---|---|
| Feb-16 | Feb-15 | % Chg | 2016 YTD | 2015 YTD | % Chg | |
| Absorption Rate | 6.92 | 12 | -42.33 | 5.62 | 11.34 | -50.44 |
| Average List Price | $3,395,567 | $2,561,806 | 32.55 | $3,107,675 | $2,309,438 | 34.56 |
| Median List Price | $2,750,000 | $1,772,500 | 55.15 | $2,322,500 | $1,772,500 | 31.03 |
| Average Sale Price | $1,550,000 | $1,450,000 | 6.9 | $1,850,000 | $1,450,000 | 27.59 |
| Median Sale Price | $1,550,000 | $1,450,000 | 6.9 | $1,850,000 | $1,450,000 | 27.59 |
| Average CDOM | 955 | 1,071 | -10.83 | 596 | 1,071 | -44.35 |
| Median CDOM | 955 | 331 | 188.52 | 596 | 506 | 17.79 |
