Watersound Real Estate
Watersound Real Estate Statistics
It was a rough month for Watersound Real Estate in regards to absorption rate but not pricing as closed sales volume has cooled dramatically both year-over-year and year-to-date.
Absorption rate is UP 111.56% to 9.52 months from last year’s 4.5 months year-over-year. Year-to-date the rate rose 97.35% to 8.19 months from 4.15 months in 2015. This is due to far less closed sales and more listings coming to market creating higher inventory levels.
Average list price is up 5.17% to $2,222,856 from $2,113,529 year-over-year and year-to-date rose 5.05% to $2,074,953 from $1,975,155 in 2015. Average sale price shot up year-over-year by 37.49% to $836,250 from last year’s $608,245 and year-to-date hit an astounding upward swing of 73.84% to $1,437,353 from $826,836 in 2015.
Median list price jumped 13.50% year-over-year to $1,912,495 from $1,685,000 in 2015. Year-to-date we are up 4.10% to $1,764,500 from last year’s price of $1,695,000. Median sale price exploded even more than average sale price going up 84.66% year-over-year to $836,250 from last year’s price of $452,860 while year-to-date the price rose 200.77% from last year’s $480,435 to $1,445,000!
Average days on market is down 46.67% to 8 days vs. last year’s 15 days year-over-year while year-to-date sale days are down 77.98% to 24 vs. 109 in 2015.
Median days on market for Watersound Real Estate Sales are down over-all 81.82% from 11 days to 2. Clearly we are looking at a small sample of sales to reach numbers like this.
Watersound Real Estate Sales Volume
Closed sales volume were 2 in March vs. 5 in 2015, down 60% year-over-year. Year-to-date sales stand at 9 vs. 23 last year, down 60.9% so clearly although prices are going up, buyers are starting to evaporate.
Pending sales are 3 in March against 7 last year this time for a 57.1% deflation and year-over-year are down 42.9% from 14 in 2015 to 8 this year so the pipeline is also shrinking.
Active listings are 46 now vs. 36 last March for a 27.8% increase year-over-year and 56 for the year vs. 53 last year total for a 5.7% over-all jump thus far.
New listings were only 2 in March vs. 11 last March for an 81% drop and year-to-date there are 16 vs. last year’s 26. Although less listings are coming to market slower sales are propping up inventory.