Jan. 31, 2017
Home sales in Rosemary Beach are continuing to remain steady and show growth. Year over year, the number of sold homes remained the same (48), but the average price per home increased 25% in 2016, to an average of $2,864,563 per home. The average price per square
foot is also up from $689.32 in 2015, to $839.53 in 2016. 78 S. Green Turtle Lane was the highest priced sale in Rosemary Beach for 2016, selling at $10,250,000. The home was on the market for 150 days, and sold at $1,842.53 per square foot (16% lower than the highest price per square foot sale in 2016, but still more than double the average).
The average Cumulative Days on Market (CDOM) did see an increase over 2015.The 35% increase in the average CDOM closed out 2016 at 266 days. The increase in CDOM is correlated to the increase in Original Listing Price. In 2016, homes sold for 81% of Original List Price. This number is up 8 points from 2015. However, after price adjustments, homes sold for 92% of the adjusted listing price; the same as in 2015. These numbers go to show that the Rosemary Beach market is predictable and steady. As of today, Original List Prices are already nearly 2% higher than 2016. With Spring Break right around the corner, we’ll see what the market is willing to bear.
Currently, there are 49 listings on the market, with an average Original List Price of $3,568,124, and an average price per square foot of $1,011.49. If the market copies 2016, this year will increase the average price per home to $3,580,704, and the average price per square foot to $989.72. December closed out the year with an absorption rate at 15 months worth of inventory. It’s not the high for the year, but it is over the 2016 average absorption rate for Rosemary Beach homes (11.74 months). The absorption rate means, that no other listings hit the market, and sales remain constant, it would take X number of months to sell through all the homes listed.
Comparing the home sale numbers in Rosemary Beach to the entire 30A market, homes in Rosemary beach sell for about 61% higher. In total, the whole 30A market represented $987,464,075.00 in home sales, with an average price per square foot of $433.38.
For 2016, 850 Properties ranked in the top 10 of Brokerages selling in Rosemary Beach. Additionally, since the inception of 850 Properties, it has continually ranked in the top 10 selling Brokerages in Rosemary Beach. As a Brokerage, homes listed in Rosemary Beach, by 850 Properties, in 2016, were on the market an average of 61 days (77% less time than the average CDOM). Additionally, 850 Properties had an average sold listing price per square foot of $848.55 for 2016 in Rosemary Beach.
Out of all the Brokerage Offices registered in the area with the local Association of Realtors, 850 Properties ranks in the top 5% of Brokerage Offices based on volume of transactions along 30A.
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Statistics for local residential sales, according to data gathered from ECAR FLEX MLS, and deemed reliable but not guaranteed.