Seaside Real Estate
Seaside Real Estate Metrics
Seaside real estate numbers are looking strong for the end of 2015 with sale prices going up and inventory going down.
Absorption rate year-over-year dropped a full 43.77% to 6 months from 10.67 last December. For the year inventory is down to 11.74 months from 15.34 months last year and a decline of 23.47%. It looks as though new listings are not keeping up with closed sales.
Average list price exploded by 43.55% YOY to $3,422,409 and for the year is up 15.41% or $2,260,969 from last year’s average list price of $1,959,038. Average sale price was every bit as impressive jumping 68.04% this December over last December at $1,848,450 and for the year end has appreciated over 2014 by 24.45% to an average sale price of $1,738,432 from last year’s $1,396,842.
Seaside median list price grew by 72.41% YOY to $2,750,000 and for the year swelled by 15.99% to $1,850,000 from last year’s end of year price of $1,595,000. Median sale price closely mirrored these increases by going up YOY by 56.31% to $1,719,400 and a year end bump of 30% to $1,625,000 from last year’s median sale price of $1,250,000.
Average days on market for the year dropped 6.29% to 328 days while median days on market is down by 9.50% to 200 days so for the median we are just over 6 months to sell which isn’t bad at all especially for a secondary home market.
Closed sales in Seaside really rose with 4 in December vs. 1 last December for a 300% increase. For the year, closed sales for Seaside Real Estate dominated last year’s 18 by coming in with 25 sales and a market expansion of just under 39%.
Pending sales were 1 in December matching that of last year, and 27 for the year besting 2014’s 20 pending sales.
Active listings stood at 11 vs. last December’s 16 and 49 for the year vs. last year’s 50 total active listings. New listings in December were 1 just like last year and a total of 33 vs. last year’s 32.
It looks as though new sellers are matching that of last year, however, new buyers are exceeding 2014 so inventory is dropping making for less inventory and propping up prices. All markets are different on 30A even by just a few blocks sometimes so we have to take each for it’s own unlike normal U.S. markets.
|Dec-15||Dec-14||% Chg||2015 YTD||2014 YTD||% Chg|
|Average List Price||$3,422,409||$2,384,063||43.55||$2,260,969||$1,959,038||15.41|
|Median List Price||$2,750,000||$1,595,000||72.41||$1,850,000||$1,595,000||15.99|
|Average Sale Price||$1,848,450||$1,100,000||68.04||$1,738,432||$1,396,842||24.45|
|Median Sale Price||$1,719,400||$1,100,000||56.31||$1,625,000||$1,250,000||30.00|