Sandestin Real Estate flourished for the month of October, 2015. Absorption rate dropped by 16.93% year-over-year and 13% year-to-date. This means it will take less time to sell current inventory than it did one year ago this time. Average list price jumped a total of 10.97% year-over-year and stands at an increase of 8.59% year-to-date. Median list price had a smallish increase of 0.89% year-over-year and stands at 2.24% up for the year. Averages take into consideration the extreme highs and lows whereas median does not. Average sale price exploded by 24.15% year-over-year but is up only 1.84% for the year. I would say there were a few large sales this month explaining the big increase in average sale price. Median sale price also exploded by 20.66% year-over-year and stands at a paltry 1.96% year-to-date. October clearly is a good buying month for Sandestin Real Estate. Average days on market dropped year-over-year by 30.41% but is up over-all for the year by 5.50% so properties over-all are taking longer to sell but not this October vs. last October in Sandestin Real Estate. Total sold listings stood at 32 this October vs. 30 last October for a 6.7% jump and are at 319 this year vs. 290 for last year and a 10.0% increase so volume is up. Pending sales stand at 37 total for the month vs. 40 last year this time and a 7.5% drop while they are up 11.3% for the year with 346 vs. 311 last year. Active listings are down 2.4% year-over-year with 362 this month vs. 371 this time last year and are up 3.9% in total for the year with 872 this year to 839 last year. New listings were down 2.4% this October with 40 vs. 41 last year this time and are up 4.6% year-to-date with a total of 551 new listings this year vs. 527. It seems the market is pretty stable with sellers being consistent rather than rushing to sell in volume and over-all appreciation although good for October is rather low for the year in Sandestin Real Estate.
|Oct-15||Oct-14||% Chg||2015 YTD||2014 YTD||% Chg|
|Average List Price||$629,917||$567,640||10.97||$584,522||$538,268||8.59|
|Median List Price||$448,950||$445,000||0.89||$434,500||$425,000||2.24|
|Average Sale Price||$419,825||$338,163||24.15||$474,503||$465,929||1.84|
|Median Sale Price||$390,950||$324,000||20.66||$390,000||$382,500||1.96|