Rosemary Beach Real Estate
Rosemary Beach Real Estate
Just as 30A east is starting to show some slowing in prices, so is Rosemary Beach South side.
Absorption rate dropped 14.91% to 13.92 months year-over-year and for the year is down 15.51% to 13.46 months but let’s see if this is due to an increase in sales volume or simply less listings hitting the market.
Average list price jumped 27.59% to $3,678,361 from a price of $2,883,017 last year. Year-to-date the price stands at $3,970,367 from last year’s $2,921,641 for a 35.90% increase. Average price refuses to follow by dropping 54.12% to $1,600,000 from last year’s average of $3,487,500 and for the year stands at $1,942,500 from $3,970,000 down 51.07%.
Median list price is up 32.06% to $3,400,000 from a price of $2,574,500 in 2015 and for the year stands at $3,497,500 up 24.91% from last year’s price of $2,800,000. Median sale price is down an astounding 56.90% to $1,600,000 from $3,712,500 in February 2015 and year-to-date is $2,035,000 off last year’s number of $3,975,000 down 48.81%.
Average days on market exploded 1325% to 1810 days from last year’s 127 days and year-to-date is 1311 days to 112 in 2016. Median days on market is also 1810 days vs. last year’s 83 days and for the year stands at 813 days against 50 in 2016 for a 1526% upwards swing.
Other Metrics
There are currently 29 listings in Rosemary Beach Real Estate as compared to 30 last February for a 3.3% drop and year-to-date we have 34 vs. last year’s 39 for a 12.8% decline. New listings in February were 3 and last year 5, a 40% regression. Year-to-date there are 7 and there were 8 last year, a 12.5% decline.
Closed sales fell 50%, from 4 to 2 and for the year are down 20% from 5 to 4. Pending sales are up 50% to 4 vs. last year’s 2 and for the year are up 20%, 6 this year and 5 in 2016.
It looks as though sellers are not rushing to list their homes hence absorption rates are dropping while close sales also seem to be slowing a bit. Although sellers are raising asking prices sale prices are dropping.
Summary Statistics | ||||||
Feb-16 | Feb-15 | % Chg | 2016 YTD | 2015 YTD | % Chg | |
Absorption Rate | 13.92 | 16.36 | -14.91 | 13.46 | 15.93 | -15.51 |
Average List Price | $3,678,361 | $2,883,017 | 27.59 | $3,970,367 | $2,921,641 | 35.90 |
Median List Price | $3,400,000 | $2,574,500 | 32.06 | $3,497,500 | $2,800,000 | 24.91 |
Average Sale Price | $1,600,000 | $3,487,500 | -54.12 | $1,942,500 | $3,970,000 | -51.07 |
Median Sale Price | $1,600,000 | $3,712,500 | -56.90 | $2,035,000 | $3,975,000 | -48.81 |
Average CDOM | 1810 | 127 | 1325.20 | 1311 | 112 | 1070.54 |
Median CDOM | 1810 | 83 | 2080.72 | 813 | 50 | 1526.00 |