Seagrove Real Estate Stats
Seagrove real estate simply boomed in the year 2015 relative to appreciation while the absorption rate dropped to a major low of 4.1 months supply from 9.6 months a year ago. For the year absorption rate is down to 5.79% for a total year’s drop from 2014 of 40.68%. That’s pretty amazing.
Average list price fell year-over-year by 2.38% to $1,307,564 but is up for the year by 23.12% to $1,324,139. Average sale price really dropped YOY by 60.37% to $430,000 but with only two closings that’s not much of a sample. For the year, the average sale price is up a whopping 44.19% to $1,244,200!
Median list price accelerated by 20.95% to $876,250 in December vs. December 2014 and for the year stands at an 11.66% appreciation or $741,900. Median sale price in December based on the two sales dropped 53.37% and for the year sits at $675,000 for a 17.39% upward swing.
Average days on market are up in December to 425 days and for the year is 335 days. Median days on market moved to 296 days and for the year is 127 days. I think the 127 median days is a good number for the year meaning properties are selling in less than 6 months typically.
Other Metrics
Closed sales dropped off in December compared to last with 2 vs. 4. However, total closed sales bested last year’s 39 to 33 for an 18.2% bump.
Pending sales in December were 1 vs. last year’s 2. For the year pending sales are down by 1, 37 to 36. Active listings dropped to 14 from last December’s 24 while for the year the total is 62 vs. last year’s 72.
New listings were a bit fat 0 in December while last December we had 2. Total new listings were 37 vs. last year’s 47 so clearly inventory is plummeting hence the low month’s supply we have now. Interesting stuff leading into next year, can’t wait to see how things go but I have to think prices will moderate.
SUMMARY STATISTICS |
||||||
|---|---|---|---|---|---|---|
| Dec-15 | Dec-14 | % Chg | 2015 YTD | 2014 YTD | % Chg | |
| Absorption Rate | 4.1 | 9.6 | -57.29 | 5.79 | 9.76 | -40.68 |
| Average List Price | $1,307,564 | $1,339,458 | -2.38 | $1,324,139 | $1,075,459 | 23.12 |
| Median List Price | $876,250 | $724,450 | 20.95 | $741,900 | $664,450 | 11.66 |
| Average Sale Price | $430,000 | $1,085,124 | -60.37 | $1,244,200 | $862,863 | 44.19 |
| Median Sale Price | $430,000 | $922,250 | -53.37 | $675,000 | $575,000 | 17.39 |
| Average CDOM | 425 | 60 | 608.33 | 335 | 229 | 46.29 |
| Median CDOM | 296 | 53 | 458.49 | 127 | 107 | 18.69 |
