Rosemary Beach Real Estate.
Rosemary Beach North real estate sales prices plummeted year-over-year while asking prices continued to escalate. Absorption rate declined year-over-year by 28.77% and 9.16% year-to-date so it will take less take to sell all current inventory than it would have last year theoretically with less month’s supply than last year. Average list price jumped a full 20.59 and are holding on a at 7.38% increase for the year but with average sale price dropping 21.79% for the month of November vs. last November and up 4.18% for the year we will likely end the year with just a small average sale price increase on an average basis. Median list price also jumped for the month by 24.86% and is holding for the year at 11.67% and median sale price year-over-year dropped 21.79% matching the average but is up for the year by 20.60%. This is a solid appreciation and takes out the extreme high and low sales prices. Just as with the South side of Rosemary Beach it seems at least for this month sellers aren’t noticing the drop in sale prices at least for the short term and are confident they can continue bumping the asking price up. We shall see how that works out in the coming months. Average days on market dropped by 17.07% year-over-year and is down 39.61% year-to-date while median days on market matches that of the average year-over-year but is up for the year by 42.25%. At least for the month of November properties are moving faster than last November and for the year it seems close to last year as the average is way down and the median is way up. I like the median numbers better so let’s just say for the year sales are occurring a bit slower than last year.
Rosemary Beach North Sales Volume
There was only 1 sale for November matching that of last November while for the year we sit at 38 vs. 36 last year. So sales volume is up a tad. Pending sales for the month are 3 vs. 0 last November and 43 this year vs. 37 last year so pending volume should continue supporting a higher closed sales volume for the year. Active listings stand at 16 in November vs. 23 last November and 82 for the year vs. 74 last year so although we have less active listings this month over-all listings for the year are higher than last year. This could support a bigger choice and lowering of prices but it’s not that big of a difference frankly. New listings for the month are 9 vs. 2 last year and 56 this year vs. 51 last year so it looks like more sellers are listing and this could moderate prices looking forward.
|Nov-15||Nov-14||% Chg||2015 YTD||2014 YTD||% Chg|
|Average List Price||$1,584,125||$1,313,604||20.59||$1,395,441||$1,299,481||7.38|
|Median List Price||$1,592,000||$1,275,000||24.86||$1,435,000||$1,285,000||11.67|
|Average Sale Price||$1,400,000||$1,790,000||-21.79||$1,177,064||$1,129,882||4.18|
|Median Sale Price||$1,400,000||$1,790,000||-21.79||$1,200,000||$995,000||20.60|