Miramar Sandestin Real Estate Market Report
Miramar Sandestin Real Estate Market Report Statistics
Miramar Sandestin real estate market report statistics for August, 2016 show price moderation with a slight drop in absorption rate.
- Absorption rate year-over-year dropped 6.4% to 994 months vs. last year’s 10.62 months of inventory.
- Average list price is up 14.25% to $656,913 from $574,983 year-over-year.
- Average sale price however dropped 1.15% to $446,873 from $452,085 last August.
- Median list price jumped 11.81% year-over-year to $445,000 vs. last year’s price of $398,000.
- Median sale price fell 9.52% year-over-year to $328,000 vs. last year’s price of $362,500.
- Average days on market dropped 13.60% year-over-year to 216 days against last year’s 250 days on market.
- Median days on market fell 14. 85% to 86 days vs. last year’s 101 days on market.
Miramar Sandestin Real Estate Market Report Volume
- Closed sales exploded year-over-year by 33.3% with 96 closings against last year’s 72 closings.
- Pending sales are up 3.5% with 88 currently in line to close vs. last year’s 85 pending.
- Active listings fell 8.7% year-over-year with 753 against last August’s 825 active listings.
- New listings are down 22.5% with 100 year-over-year against last year’s 129 this time of year.
It looks as though a tipping point of sorts is occurring with buyers dropping prices to sell although new listings continue to rise in price. With the drop in sale prices volume is up quite a bit lowering inventory as both active and new listings fall.
Summary Statistics | ||||||
Jul-16 | Jul-15 | % Chg | 2016 YTD | 2015 YTD | % Chg | |
Absorption Rate | 9.94 | 10.62 | -6.40 | 9.86 | 11.59 | -14.93 |
Average List Price | $656,913 | $574,983 | 14.25 | $599,562 | $539,691 | 11.09 |
Median List Price | $445,000 | $398,000 | 11.81 | $409,000 | $379,900 | 7.66 |
Average Sale Price | $446,873 | $452,085 | -1.15 | $453,495 | $436,219 | 3.96 |
Median Sale Price | $328,000 | $362,500 | -9.52 | $350,000 | $344,625 | 1.56 |
Average CDOM | 216 | 250 | -13.60 | 215 | 211 | 1.90 |
Median CDOM | 86 | 101 | -14.85 | 115 | 111 | 3.60 |