Watersound’s latest real estate is trending upward fast.
Watersound’s Latest Real Estate Numbers Trending Up
These numbers illustrate what is happening within a planned community that has been tracking behind a few others in appreciation over the past few years but is now coming around showing double digit increases. Absorption rate did jump 33.33% year-over-year to 6.08 months but is down 44.27% for the year so there is much less inventory to choose from which is likely bolstering the price increases. Average list price is up 14.74% compared to last November and for the year is up 21.08%. These increases are supported by an average sale price bump of 18.20% in November and 11.97% for the year. Median list price is up year-over-year 19.72% and 37.20% year-to-date with median sale price up a whopping 84.84% in November and 26.54% for the year. Average and median days on market year-over-year is down 100% and up 25.90% and 36.23% respectively year-to-date so it’s taking less time to sell.
Volume sales were down in November as they have been for the year with 1 closed sale vs. 3 last November. The total closed sales are 64 this year vs. 75 last year for a 14.7% drop. Pending sales are 2 this November vs. 7 last November and 59 for this year vs. 96 last year so although prices are up volume is way down. Active listings now stand at 38 vs. 30 last year this time and 118 this year vs. 154 last followed by new listings this November of 1 vs. 4 last year November and 91 for the year vs. 107 total last year. It is clear that less sellers are coming to market so with less product and choices on the market we have less volume sales and prices are moving up due to supply and demand.
| Summary Statistics | ||||||
| Nov-15 | Nov-14 | % Chg | 2015 YTD | 2014 YTD | % Chg | |
| Absorption Rate | 6.08 | 4.56 | 33.33 | 5.25 | 9.42 | -44.27 |
| Average List Price | $2,249,052 | $1,960,082 | 14.74 | $1,785,145 | $1,474,310 | 21.08 |
| Median List Price | $1,912,495 | $1,597,500 | 19.72 | $1,595,000 | $1,162,500 | 37.20 |
| Average Sale Price | $955,900 | $808,707 | 18.20 | $1,371,152 | $1,224,547 | 11.97 |
| Median Sale Price | $955,900 | $517,120 | 84.85 | $1,112,500 | $879,179 | 26.54 |
| Average CDOM | 0 | 2 | -100.00 | 123 | 166 | -25.90 |
| Median CDOM | 0 | 1 | -100.00 | 44 | 69 | -36.23 |
