November Statistics
Rosemary Beach South continues to hum along like a little bird year-to-date but is showing some weakness in pricing on a year-over-year basis. Absorption rate dropped again year-over-year by 12.37% and is now down year-to-date by another 15.12%, or 16.14 months. That’s still a lot of months for absorption rate but at least it’s dropping and it would take less time to sell all inventory right now than it did last year this time. The list price statistics continue to explode as it seems either sellers or realtors are not catching on to the fact that hey, sale prices are starting to drop a bit. It’s always important to follow these trends and price your property appropriately if you want it to sell in a reasonable amount of time. Average list price jumped by 32.90% year-over-year for November while the average sale price dropped 7.50% so these continued upward swings in the list price are clearly not supported. For the year, average list price is up 11.44% while average sale price is up 14.52% so the overall average list price for the year is not up so dramatically but the average sale price year-to-date is strong but should tumble a bit if we have dropped in the months ahead as we did this month. Median list price is up 39.25% year-over-year with median sale price down 7.50% almost a perfect mirror of the averages while the year-to-date median list is up 9.27% and median sale is up 49.67!! Amazing. This in numbers is a median sale price of $1,510,000 last year and $2,260,000 this year. Average days on market dropped 77.30% year-over-year and is down 4.20% year-to-date with the median being down the same year-over-year and down 24.30% year-to-date so properties are selling faster. The only weakness in these numbers seems to be a slight drop in sales prices but let’s see if this is a trend or anomaly.
We had 2 sales in Rosemary Beach South vs. 1 last year this time and for the year are in a dead even heat of 23 total for this year and last. Pending sales are at 3 for this month vs. 1 last November and again a dead even heat of 24 year-to-date this and last year. Active listings this month are 25 vs. 31 last year and 66 vs. 72 this year-to-date so fewer sellers are coming forward. New listings for this November are at 1 vs. 4 last November and for the year are 35 vs. 44 last year so again, sellers are cooling and this will support price increases possibly as inventory gets lower.
SUMMARY STATISTICS |
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|---|---|---|---|---|---|---|
| Nov-15 | Nov-14 | % Chg | 2015 YTD | 2014 YTD | % Chg | |
| Absorption Rate | 13.04 | 14.88 | -12.37 | 13.70 | 16.14 | -15.12 |
| Average List Price | $4,236,600 | $3,187,694 | 32.9 | $3,312,106 | $2,972,049 | 11.44 |
| Median List Price | $3,899,000 | $2,800,000 | 39.25 | $2,949,500 | $2,699,250 | 9.27 |
| Average Sale Price | $2,312,500 | $2,500,000 | -7.50 | $2,578,435 | $2,251,576 | 14.52 |
| Median Sale Price | $2,312,500 | $2,500,000 | -7.50 | $2,260,000 | $1,510,000 | 49.67 |
| Average CDOM | 84 | 370 | -77.30 | 251 | 262 | -4.20 |
| Median CDOM | 84 | 370 | -77.30 | 162 | 214 | -24.30 |
