Watercolor Real Estate
Watercolor average sale price dropped while median price escalated for the month of December, 2015.
Absorption rate for December declined a smallish 0.37% to 8.04 months of inventory compared to that of December 2014. For the year end, absorption rate jumped 6.94% ending with 9.55 months of inventory. This isn’t earth shattering in either direction for a second home community but it does trend more towards a buyer’s market.
Seller’s seem to be ignoring any such “nonsense” as average list price expanded by 33.78% year-over-year to $2,150,394! That brought the average list price for the year to a 15.76% inflation total and $1,746,799 asking price point. However, for December buyers don’t see it that way. Average sale price fell by 6.17% to $1,382,500. However, for the year it’s robust with an elevation in price by 21.48% to $1,467,025 average price.
Median list price exploded by 28.24% and for the year is up 11.13% to $1,472,500 and median sale price supported these increases somewhat with a December rise of 11.40% and held on for a year end close up 21.90% at $1,280,000. That’s pretty impressive and one would have to say Watercolor is pretty hot.
Average days on market for the year end is up a whopping 31.82% to 231 days while median stands at 120 days seemingly trending towards buyers but sellers I think tend to hold on rather than quick sell and wait for the market.
There were 4 sales in December vs. 12 last year and 101 for the year vs. 125 last year for a 19.2% drop in sales volume. Whoops, not so hot!
Pending sales didn’t perform much better with 2 vs. 5 last year and 99 vs. 106 for the year. Not that far off from last but certainly not sizzling.
Active listings were 73 in December 2015 vs. 78 in 2014 and for the year are 222 vs. last year’s 232 so less sellers seem willing to sell.
New listings for the month of December were 5 vs. last year’s 9 and end with a total of 144 to last year’s 148. So it’s close, but just a bit less inventory to choose from. It will be interesting to see how prices trend but if inventory continues to slack prices could be bolstered as buyers have fewer options.
|Dec-15||Dec-14||% Chg||2015 YTD||2014 YTD||% Chg|
|Average List Price||$2,150,394||$1,607,447||33.78||$1,746,799||$1,508,968||15.76|
|Median List Price||$1,789,000||$1,395,000||28.24||$1,472,500||$1,325,000||11.13|
|Average Sale Price||$1,382,500||$1,473,333||-6.17||$1,467,025||$1,207,673||21.48|
|Median Sale Price||$1,197,500||$1,075,000||11.40||$1,280,000||$1,050,000||21.90|