Market Report Statistics
Market Report East 30A
One thing is for sure. Sellers continue feeling the market is hot and buyers although balking some on pricing aren’t backing off that much either. 30A is a great place to live or own a second home and this continued market strength and market report proves lots of folks feel that way.
Absorption rate dropped by 1.21% to 8.17 months to last year’s 8.27 months year-over-year and year-to-date we are down 3.85% in inventory to 8 months from 8.32 months so the balance of sales volume and new listings is good.
Average list price jumped 28.47% year-over-year to $1,645,228 from last May’s $1,280,606. Year-to-date the asking price rose 21.99% to $1,412,972 against last year-s $1,158,240. The average sale price did not cooperate for the month dropping 5.34% to $1,000,980 from last year’s price of $1,057,471. Not a huge difference but still material. Year-to-date we are still up by 4.32% at $1,027,604 vs. an average of $985,009 last year.
The median list price exploded by 29.31% year-over-year to $1,000,980 against last year’s $849,900. Year-to-date it is elevated by 18.61% to $892,250 against $752,250 last year. Median sale price is up double digits year-over-year by 14.50% at $770,000 vs. $672,500 and year-to-date rose 10.95% to $742,000 from last year’s $668,750. Double digit median increases are nothing to sneeze at.
Average days on market fell 9.32% to 146 days against 161 days last May and year-to-date are down 12.63% to 166 days vs. 190 days.
Median days on market dropped 20.24% to 67 days against 84 last May and year-to-date are up 17.28% to 95 from 81. Generally it is taking less time to sell a property.
MarketReport Volume
Closed sales fell 93% year-over-year to 78 vs. 86 last May and year-to-date is down 4.7% at 345 sales to 362 last year.
Pending sales fell 11.4% to 93 against 105 year-over-year and year-to-date are down 9.3% at 408 to 450.
Active listings are up 4.2% with 1170 this May and for the year have increased 4.1% to 1170 against 1124.
New listings boomed 27.1% to 150 for May vs. 118 last year and year-to-date have risen 5.4% with 630 vs. 598.
Summary Statistics | ||||||
May-16 | May-15 | % Chg | 2016 YTD | 2015 YTD | % Chg | |
Absorption Rate | 8.17 | 8.27 | -1.21 | 8 | 8.32 | -3.85 |
Average List Price | $1,645,228 | $1,280,606 | 28.47 | $1,412,972 | $1,158,240 | 21.99 |
Median List Price | $1,099,000 | $849,900 | 29.31 | $892,250 | $752,250 | 18.61 |
Average Sale Price | $1,000,980 | $1,057,471 | -5.34 | $1,027,604 | $985,009 | 4.32 |
Median Sale Price | $770,000 | $672,500 | 14.50 | $742,000 | $668,750 | 10.95 |
Average CDOM | 146 | 161 | -9.32 | 166 | 190 | -12.63 |
Median CDOM | 67 | 84 | -20.24 | 95 | 81 | 17.28 |