Seagrove Drops in November 2015

By
Real Estate Agent with Cole Blair Properties, LLC BK3234436

 

The Numbers in the Seagrove Market

The Seagrove market dropped in November, 2015 as both median and average sales prices dropped like a lead weight! That said, sellers failed to catch on as asking prices escalated. This comes with absorption rates dramatically reduced. Year-over-year absorption rate dropped by 51.06% to just 4.86 months while year-to-date it dropped 39.20% to 5.94 months of inventory. This is as low as I've seen in a while and you'd think with this low inventory would come higher sale prices. Average list price dropped for the month by 1.35% but is up 22.83% for the year, however, median list price jumped 29.82% compared to last November and is up 16.47% for the year. Average and median sale prices dropped 50.15% and 12.11% respectively in November vs. last but for the year are up 54.79% on average and 17.70% median. We'll keep an eye on these numbers to see if it's just a seasonal blip or a trending down. Average days on market year-over-year dropped by 13.40% and is up 30.43% year-to-date while median days on market shot up 66.34% for November but is down 2.33% for the year in the Seagrove market.

Other Metrics

Closed sales were 2 in November vs. 3 last November and for the year reside at 37 vs. 29 last year for a 27.6% increase. That's quite material. Pending sales sit at 2 while last year they were 3 and for the year are a dead even 35 with last year's 35. Active listings are currently 17 vs. last November's 24 (remember the lower inventory thing) with the year's total of 62 vs. last year's total at this time of 70 so seller's are sitting tighter. You'd think this might drive prices up, and maybe it will! New listings were 1 this November vs. 4 last November and are 39 for the year vs. last year's 45 down 13.3%. We shall see if this inventory downward trending means higher prices moving forward or if sale prices continue to drop as they did in November.

Check out Seagrove lisings.

Comments (21)

Cole Blair
Cole Blair Properties, LLC - Santa Rosa Beach, FL
Residential luxury real estate serving 30A/Destin.

In certain areas Michael. It's an unusual market, mostly second home luxury. 

Dec 18, 2015 02:36 AM
Mery Fernandez Empire Network Realty Luxury Brokerage
Empire Network Realty INC. - Orlando, FL
The Rise of An Empire, Let's Build Yours!

Hi Cole! Welcome to the world of Activerain, may your blogging  create a whole new chapter in your Real Estate Career.

Dec 18, 2015 02:46 AM
Cole Blair
Cole Blair Properties, LLC - Santa Rosa Beach, FL
Residential luxury real estate serving 30A/Destin.

Thanks Mery, and it already has. I've been blogging a lot on my webstte last three months just no outside of it. Lots of learning re linking etc.. I'm from Orlando btw.

Dec 18, 2015 03:38 AM
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

Cole, you live in a truly beautiful area. You may want to check your links in the post. I wanted to see Seagrove listings but the link is not working. Also, the "Other Metrics" link takes me to your MLS, login required.

Florida is close enough to MS that I've spent time vacationing and attending seminars in Navarre, Destin, & Fort Walton areas. Everyone loves the beach!

Dec 18, 2015 08:57 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Welcome to active rain. Thank you for the information.

Dec 18, 2015 09:47 AM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Cole Blair thank you for sharing a display of your market in Seagrove and how it has been evolving.... whatever drops will eventually rise again....and that's the nature of our market....

Dec 18, 2015 08:02 PM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

and welcome to ActiveRain....it's a great platform to learn, share, market and network....and I hope you enjoy all of it as much as I have over the past 6 years...

Dec 18, 2015 08:02 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Welcome to ActiveRain and thanks for the Seagrove overview - it sounds as though sales were up and inventory is down -- those do seem to indicate a possible price increase. 

Dec 18, 2015 08:16 PM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Welcome to Active Rain!  As REALTORS who have been here (on and off) for more than 9 years, it's well worth it!

Dec 18, 2015 09:19 PM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

Hi Cole Blair, Welcome to Active Rain and congrats on your very first blog with very interesting statistics.

Dec 19, 2015 03:19 AM
Jack Gerbehy
Egg Harbor Township, NJ

Welcome to the Rain, Great people here and lots of info 

Dec 19, 2015 09:17 AM
Cole Blair
Cole Blair Properties, LLC - Santa Rosa Beach, FL
Residential luxury real estate serving 30A/Destin.

Thanks to you all seems like an informative platform, looking forward to it.

Dec 19, 2015 09:41 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thanks for sharing your Seagrove market report. This is good information to share with prospective home buyers and home sellers.

Dec 19, 2015 11:35 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Suggestion: 

Use your blog settings to create an automatic signature for your blogs. Readers want to see your contact information.

Dec 19, 2015 11:36 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Cole, great first blog on Seagrove's stats, would love to see your area.   Welcome to ActiveRain! 

Dec 20, 2015 04:33 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Insightful analysis of the Seagrove market Cole.

Welcome to Active Rain, looking forward to reading many more of your posts, let me know if there is anything that I can do to help as you get started here.
Bob

Dec 22, 2015 02:05 PM
LuxurySoCalRealty San Diego
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

Congratulations on your first blog post and welcome to ActiveRain Cole Blair 

Dec 25, 2015 02:04 AM
Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Welcome to ActiveRain, it's Great to have you aboard.  I look forward to reading your posts!  Happy New Year!

Jan 06, 2016 04:44 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Welcome to the Active Rain community.

Have a bliss with blogging and marketing:) 

Jan 10, 2016 05:48 PM
Letitia Stevenson
BHHS Fox & Roach | www.DelawareValleyRE.com - Greenville, DE
Listing Agent DE/PA/MD, Digital Marketer & Coach

Hi Cole, I’m stopping by to Welcome You to the Rain! ActiveRain is a great place to share your knowledge, expertise and thoughts, as well as network and learn so much from the vast pool of talent already onboard. I look forward to reading your upcoming posts. If you would like to connect with me on ActiveRain, please subscribe to my blog! Welcome Aboard, Happy New Year and Much Success! 

Jan 21, 2016 09:24 AM