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.
|May-16||May-15||% Chg||2016 YTD||2015 YTD||% Chg|
|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|