The Sebastian Real Estate Market Report in December 2014 shows that the market finished the year on a high note. Selling prices are on the rise and selling prices are getting close to asking prices. The Sebastian Real Estate Market Report is dynamic with up to date information that provides current and timely view of the Sebastian real estate market. You can subscribe to the Sebastian Home Values Real-Time Market Snapshot for more details and what’s going on right now in your neighborhood.
Sebastian Real Estate Market Highlights – December 2014
The month of December 2014 was an active market with increases in median sale prices and reduction in the inventory. The average Days On the Market (DOM) was also low indicating continued demand. The Inventory was reduced by 18% which will fuel further increase in sale prices, great news for the market as we are entering the traditionally strong winter season of 2015. The Sebastian market statistics for December 2014 are summarized in the image below.
DATA SOURCE: MLS data as of 1/2/2015. Data believed to be accurate but not guaranteed.
Sebastian Real Estate Market Analysis – December 2014
Price Trend Analysis (Average List Price)
The history of sale prices the last 12 months can be seen in the charts below. The sale prices are increasing for single family homes but remain flat for condos. The sale prices for multi-family homes spiked in December of 2013 and have been declining up until January 2014, but have been stabilizing and have started to appreciate.
DATA SOURCE: MLS data. Data believed to be accurate but not guaranteed.
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Price Trend Analysis (% Price Reduction)
The List (asking price) to Sale Price ratio is very helpful in understanding demand and market strength. The closer the sale price to list or asking price, the stronger the market is. This Sebastian Real Estate Market Report for December 2014 shows a strengthening market.
The following chart shows that single family homes and condos in Sebastian are selling with approximately 96% List to Sale ratio, a very good ratio which is higher that than the previous months. The increase of sale to list ratio indicates that more buyers are entering the market and sellers are adjusting to the current market conditions.
DATA SOURCE: MLS data. Data believed to be accurate but not guaranteed.
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Days On the Market (DOM)
The Days On the Market (DOM) as illustrated in the chart below, is very useful because it can help us determine demand. A buyer’s market is indicated by high DOM. Consequently, a seller’s market is indicated by low DOM. The chart below shows that demand for Sebastian Real Estate has stabilized as the DOM is starting to flatten with the current average of 137 days in December 2014.
DATA SOURCE: MLS data. Data believed to be accurate but not guaranteed.
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