Sandestin Real Estate
Sandestin Real Estate continued it’s improvement for the month of September 2015. Absorption rate dropped a full 16.85% YOY and 12.76% YTD. Average list price jumped 12.34% YOY and 7.61% YTD mirrored by a gain YOY in average sale price of 3.97% but for the year a drop of 0.02%. Median list priced improved by 4.78% YOY and 2.22% YTD with median sale price exploding YOY by 22.32% but for the year dropped 2.84%. It seems price points are moderating yet sellers continue raising asking price. This Sandestin real estate market price increase can’t go on forever. Average days in the Sandestin real estate market dropped a full 18.38% YOY and is up 8.87% for the year while median days on market YOY is down 32.75% and up 16.67%. It’s taking longer to sell for the year compared to 2014 and this likely has to do with sellers raising prices that aren’t in line with sales prices. Sold listings were up 33.3% YOY with 36 this month vs. 27 this time last year and 287 YTD vs. 260 last year for a 10.4% increase. Hmm, so sales volume is up even though sellers are asking too much it seems and it’s taking longer to sell listings. Pending sales for the month are up a whopping 78.3% YOY with 41 this month vs. 23 last year this month and up 14.4% YTD with 310 for the year vs. 271 last year this time. Active listings are down 3.2% YOY with 365 this month 2015 vs. 377 September last year and up 4.1% for the year with 831 this year vs. 798 last year. New listings are up 26.3% YOY at 48 vs. 38 last year and up 4.9% YTD with 510 vs. 486 last year. It seems sellers are excited to sell at least this month vs. last year but for the year it’s up just a bit so it’s not like sellers are bull rushing to sell.
| Summary Statistics | ||||||
| Sep-15 | Sep-14 | % Chg | 2015 YTD | 2014 YTD | % Chg | |
| Absorption Rate | 11.5 | 13.83 | -16.85 | 11.08 | 12.7 | -12.76 |
| Average List Price | $605,169 | $538,681 | 12.34 | $584,785 | $543,415 | 7.61 |
| Median List Price | $449,500 | $429,000 | 4.78 | $439,000 | $429,450 | 2.22 |
| Average Sale Price | $529,539 | $509,334 | 3.97 | $480,599 | $480,672 | -0.02 |
| Median Sale Price | $422,000 | $345,000 | 22.32 | $385,000 | $396,250 | -2.84 |
| Average CDOM | 191 | 234 | -18.38 | 221 | 203 | 8.87 |
| Median CDOM | 115 | 171 | -32.75 | 112 | 96 | 16.67 |
