Seagrove Market Report
Seagrove Market Report Statistics
Seagrove sellers keep on raising prices but buyers aren’t going for it.
Absorption rate is up 3.33% year-over-year to 6.51% from last year’s 6.3% in May so we have a bit more inventory.
Average list price rose 29.62% to $1,192,589 against last year’s price of $920,052 year-over-year. However, average sale price failed to track those numbers going down 88.83% t $230,000 vs. last year’s $2,058,667.
Median list price jumped 20.13% to $895,000 from last year’s price of $745,000 yet again, the sale price fell 79.09% to $230,000 from $1,100,000. Keep in mind however that we had only one sale in May which is also telling.
Average days on market is up 10.61% to 73 days against 66 last May
Median days on market rose 386.67% to 73 days vs. 15 last year.
Clearly it is taking longer to sell.
Seagrove Market Report Volume
Close sales volume plummeted 83.3% year-over-year with only 1 closed sale this May against 6 last May.
Pending sales volume fell 100% with ZERO contracts vs. 6 last year.
Active listings fell 9.5% to 19 against 21 last May.
New listings are down 50% with 3 this May vs. 6 last May.
It seems the only reason inventory is staying at a normal level is due to lack of new listings coming to market as sales volume has come to a trickle.
| Summary Statistics | ||||||
| May-16 | May-15 | % Chg | 2016 YTD | 2015 YTD | % Chg | |
| Absorption Rate | 6.51 | 6.3 | 3.33 | 6.13 | 6.89 | -11.03 |
| Average List Price | $1,192,589 | $920,052 | 29.62 | $1,144,947 | $1,309,715 | -12.58 |
| Median List Price | $895,000 | $745,000 | 20.13 | $762,000 | $749,000 | 1.74 |
| Average Sale Price | $230,000 | $2,058,667 | -88.83 | $721,909 | $1,590,595 | -54.61 |
| Median Sale Price | $230,000 | $1,100,000 | -79.09 | $650,000 | $720,000 | -9.72 |
| Average CDOM | 73 | 66 | 10.61 | 159 | 495 | -67.88 |
| Median CDOM | 73 | 15 | 386.67 | 73 | 136 | -46.32 |
