Destin Real Estate dropped a bit for the month of October, 2015 vs. October 2014. Absorption rate year-over-year decreased by 10.39% and 6.69% year-to-date so it’s taking less time to sell current inventory than last year. Average list price year-over-year increased 7.60% but was not supported by average sale price which dropped 4.61%. For the year Destin Real Estate average list price is up 6.79% and is supported thus far being up 8.74% year-to-date but if the monthly prices continue to drop this will also drop. Median list price exploded year-over-year by 17.22% but again was not supported by sale price which decreased 1.59% while median list price for the year is up a paltry 1.29% and median sale price is up 8.77%. Destin Real Estate average days on market dropped 19.81% year-over-year with median days on market going down 21.57% and for the year is down 9.57% so inventory is moving faster than last year. Sold listings were 64 for the month of October and 81 last year for a 21% drop but are up 8.9% for the year with 842 to 773. Destin Real Estate pending sales jumped to 93 to 76 vs. last year and a 22.4% increase and 931 to 829 last year up 12.3% so volume sales are looking good in the pipeline. Active listings are down 1.6% year-over-year with 886 this October vs. 900 last October and for the year sit at 2296 to 2199 and a 4.4% upward swing. New listings year-over-year were 113 to 123 last October so are down 1.6% while being up for the year by 6.6% with 1446 this year total to 1357 last year. It looks as though although more sellers hit the market for the year it is tapering off a bit if October this year is any indication and there were even more sellers last year for October alone. It still seems like a balanced market from a volume and pricing perspective.
|Oct-15||Oct-14||% Chg||2015 YTD||2014 YTD||% Chg|
|Average List Price||$719,845||$668,985||7.60||$601,535||$563,283||6.79|
|Median List Price||$538,500||$459,400||17.22||$400,000||$395,000||1.27|
|Average Sale Price||$409,509||$429,312||-4.61||$413,214||$379,986||8.74|
|Median Sale Price||$310,000||$315,000||-1.59||$310,000||$285,000||8.77|