Watersound Beach Real Estate

Watersound Beach Real Estate Stats

Watersound Beach Real Estate looks stronger than any other area on 30A in January, 2016 with all metrics but absorption rate going in the right direction.

Absorption rate jumped 51.77% from 6.78 months to 10.29 months of inventory. This would indicate a slow down in the planned community.

Average list price jumped 8.36% year-over-year to $2,349,609 from last year’s $2,168,419 while year-to-date shot up 8.63% to @2,263,783 from last year’s $2,083,982. Average sale price exploded by 37.52% from last year to $2,105,750 from $1,531,250 last year. Of course as January is a one month snap shot for the year and relatively slower in sales seasonally so we have a small sample thus far.

Median list price grew 23.01% year-over-year to $2,085,000 from $1,695,000 last January. For the year it is up 17.40% to $1,990,000 from $1,695,000 in 2014. Median sale price rose by 46.87% from last year’s $1,531,250 to $2,249,000. Wow!

Average days on market dropped 50% to 73 days from last year’s 146 days. Median days on market went from 146 last year to 87 this January for a 40.41% decline. Properties seem to be selling faster than last year.

Other Metrics

Closed sales were up 100%, going from 2 sales in 2014 this time to 4 closed sales. Pending sales were down 20% going from 5 last year to this year’s 4. This is pretty insignificant and the pipeline looks to be holding relatively steady to maintain a strong closed sales ratio.

Active listings stand at 42 in January vs. last year’s 26 for a 61.5% expansion, hence the increase in inventory and absorption rate number. For the year, we stand at 48 active listings vs. last year’s 35 for a 37.1% inflation.

New listings were 8 in January down 11.1% from last year’s 9.

It seems more new listings came on board last year and sales had a difficult time keeping up so absorption rate is up, however, sale prices continue to escalate. We shall see how this increase of inventory effects pricing moving forward.