2016 was a great year for Alys Beach Real Estate. The total volume in sales was $70,106,615.00, representing a 45% increase over last year (LY). 31 homes were sold in 2016 in Alys Beach, which is up 55% from LY. The sales numbers bring the average price per home to be $2,261,504, and sets the price per square foot at $748.79.
As of January 1, 2017, there are 16 properties for sale in Alys Beach. The list of properties start with a condominium listing at The Lucian, offered at $1.35MM. The highest priced listing is on the north end of Alys Beach, on N. Charles Street, offered at 6.2MM. The average listing price is $2,865,498.00, which is 21% higher than the average sale price in 2016 ($2,261,504.00). The current Cumulative Days on Market (CDOM) for the listed properties is 187 days, which is up from 133 days in 2016. December’s market saturation had an absorption rate of 6 months. Which means, if no more listings are added, the current inventory will sell out in about six months. The absorption rate finished out the year low after it’s peek in September of 11.33 months. It’s historically normal for the CDOM to increase around the holidays, and progressively decrease over the spring and summer months. The number of Active Listings in Alys Beach is continuing to increase, and the sales are following the same trend. This is likely due to the new construction in the community. The market reports are indicating strong upward growth, and look hopeful for the growing community. Strong sale prices, and the recent increase in the consumer confidence index should prove to show property owners larger than normal returns.
From a brokerage standpoint, since the start of 850 Properties in 2013, 850 Properties has sold more properties in Alys Beach than any other outside brokerage. Additionally, 850 Properties represented the sellers in the highest priced sale in Alys Beach for 2016. In the past year, 11 different brokerages have represented part of a sale in Alys Beach. However, only a few brokerages continually represent the overall sales production for the community. Of the 16 properties on the market in Alys Beach, there are only seven listing brokerages, and three of the brokerages had no sales in Alys Beach during 2016. Based on sales reports from the local MLS, there are only four brokerages that represent 83.73% of the sales in Alys Beach.