Seagrove Real Estate

Seagrove Real Estate Market Stats

The Seagrove real estate market is taking a nap in January 2015 with no sales activity. However, absorption rate dropped dramatically illustrating a really strong seller’s market. We are now down to 4.31 months of inventory, down 48.44% from last year’s 8.36% at this time of year. This is alarming if you are an interested buyer, not so much if a seller as this presents opportunity. With so little inventory one would expect a jump in list price but that isn’t the case thus far.

Average list price dropped 13.38% in January vs. 2014 and 6.44% year-to-date. Currently average list price is $1,131,460 vs. last year’s $1,209,341 but let’s keep in mind this is with only 3 new listings coming to market in January. The is sales activity and we now stand at $334,500 on average in Seagrove .

As there were no sales we have no changes in days on market but again with such a low inventory it can be said buyers would likely be at a disadvantage in negotiations with such little to choose from so let’s hope to see more sellers’ step forward in this market and take advantage of the opportunity.  Last year’s average days on market at this time was 405 days and median days were 365.

Other Metrics

Not a lot happened so not much to talk about with no sales. There were 2 last year in January so we have a 100% depreciation in sales volume. Pending sales were 1 vs. last year’s 6 for an 83.3% decline so the pipeline is looking sparse leading into 2016. Could this mean the market is slowing down? Active listings are 14 vs. last year’s 23 and for the year 15 vs. last year’s 29 hence the drop in absorption rate. New listings were 3 vs. last year’s 6 so this plays into the low absorption rate as fewer sellers are coming in.