Seagrove Beach Real Estate
Seagrove Beach Real Estate
Seagrove Beach Real Estate without question is moderating if not downright plummeting in the month of February, 2016.
Absorption rate dropped 19.37% to 6.16 months of inventory from last February’s volume of 7.64 months and year-to-date is down to 5.54 months from 8 in 2015 for a 30.75% decline.
Average list price sits at $1,040,963 from last year’s $1,023,714 up a measly 1.68% while year-to-date we are down 9.32% to $1,075,105 from $1,185,639 in 2015. Average sale price took the plunge and I mean big! Year-over-year the average sale price is now $450,000 down 56.56% from last year’s $1,035,817. Year-to-date the average sale price is down a resounding 47.70% to $450,000 from last year’s $860,488! Very telling numbers to say the least.
Median asking price year-over-year dropped 2.21% to $728,500 from $745,000 in 2015. Year-to-date the list price fell 2.45% to $726,750 against $745,000 in 2015. The sale price tracked this price slump by falling 49.30% year-over-year to 450,000 vs. $887,500 in 2015 for February and year-to-date dipped 25.86% to $450,000 from $607,000 in 2015.
Average days on market is down 93.32% to 36 days vs. 539 days in February 2015 and year-to-date is about the same. Median days on market fell 53.25% year-over-year to 36 days against 77 days last year and year-to-date sits at 36 days vs. 108 in 2015 so properties seem to be selling a bit faster.
Other Seagrove Beach Real Estate Metrics
Closed sales year-over-year were only 2 against 6 in February 2015 for a 66% decline in volume sales and year-to-date there are only 2 closed deals vs. 8 in 2015 for a 75% difference. This is obviously what is driving the absorption rate down if active listings are also dropping.
Pending sales were 4 in February vs. 1 last year and 5 for 2016 vs. 7 in 2015 so pending sales are hopefully going to catch us up in closed sales ultimately if this trend continues.
Active listings were 19 vs. 21 in 2015 and for the year 22 vs. 31 last year so there you go. This along with a drop in sales is driving inventory down. New listings are at 5 vs. 2 last February and for the year tied at 8.
| Summary Statistics | ||||||
| Feb-16 | Feb-15 | % Chg | 2016 YTD | 2015 YTD | % Chg | |
| Absorption Rate | 6.16 | 7.64 | -19.37 | 5.54 | 8 | -30.75 |
| Average List Price | $1,040,963 | $1,023,714 | 1.68 | $1,075,105 | $1,185,639 | -9.32 |
| Median List Price | $728,500 | $745,000 | -2.21 | $726,750 | $745,000 | -2.45 |
| Average Sale Price | $450,000 | $1,035,817 | -56.56 | $450,000 | $860,488 | -47.70 |
| Median Sale Price | $450,000 | $887,500 | -49.30 | $450,000 | $607,000 | -25.86 |
| Average CDOM | 36 | 539 | -93.32 | 36 | 505 | -92.87 |
| Median CDOM | 36 | 77 | -53.25 | 36 | 108 | -66.67 |
