Real Estate Statistics 30A

30A Real Estate Statistics

30A real estate East end is definitely starting to tremble with continued escalation of asking price and a drop in sales price.

Absorption rate 30a real estate dipped 11.18% to 7.47 months of inventory from last year’s 8.41 months at this time and for the year stands at 7.34 months, an 11.03% drop year-to-date.

Average list price rose 19.79% to $1,491,542 year-over-year from $1,245,096 in 2015 and year-to-date is up 21.46% to $1,442,177 from last year’s price of $1,187,347. On the other hand, average sale price tumbled in February this year vs. 2015 by 5.84% to $1,011,624 from $1,074,376 and year-to-date is down 2.04% to $973,842 compared to last year’s price of $994,089.

Median list price jumped 9.35% for January to $925,000 in contrast to $845,900 in 2015 and for the year grew 12.95% to $898,000 compared to $795,000 last year.  Median sale price trickled down by 2.67%, to $730,000 in comparison to last year’s price of $750,000 and is up 4.65% to $720,000 year-to-date, the only pricing bright spot as buyer’s seem to be pushing back.

Properties are selling faster as average days on market descended 28.63% year-over-year to 167 days but year-to-date rose 1.04% to 194 days. Median days on market plunged 63.74% to 33 days February 2016 vs. February 2015 and for the year sits at 77 days, down 15.38%.

Real Estate Other Metrics

Sold listings were down 35.1% year-over-year from 77 to 50! Year-to-date we have a slumped 29.1% from 127 closed sales to 90. On the other hand pending sales are up 14.3% with 72 vs. last year’s 63, however, for year have tumbled 15.6% with 124 this year vs. 147 in 2015.

Active listings dropped 1.4% to 547 total listings in February from last year’s total of 555 listings this time and for the year are down 6.9% to 726 against last year’s 780 total. New listings aren’t helping matters with a plunge of 31.4% year-over-year and year-to-date are down 19.6%. We definitely are feeling an inventory pinch as less seller some to market.