21 April 2010

Real Estate Statistics in Charleston

Statistics Charleston SC Real Estate

Here is some data that was passed along to me that I would like to share with you. I have found it to be very interesting stuff. Lets take a loo at some preliminary data from the Charleston Trident Association of REALTORS® shows 691 homes sold at a median price of $185,000 in March.  This represents a 22% increase in sales and maintenance of the median price from March 2009, when 568 homes sold at a median price of $185,000.
Year-to-date, 23% more homes sold at prices 3% higher than this time last year.  Thus far in 2010, 1,670 homes sold at an average median price of $185,501.  At this time last year, 1,357 homes had sold at an average median price of $180,473.
This suggests a strong beginning to the typically busy spring and summer seasons, which got off to a slow start in 2009.  “The activity in the early months of 2010 is incredibly encouraging—every month, we’re seeing sustainable growth in home sales and prices are holding steady” said Jeremy Willits, 2010 CTAR President.  “We didn’t have sales numbers in this range until May or June in 2009” said Willits.
Though no one is sure what the months following the expiration of the tax credit will look like, Willits concurs that the home buyer tax credit appears to have done what it was supposed to do.  “The tax credit was not intended to be a long-term initiative.  It incentivize the purchase of a home, following a year of uncertainty and volatile market activity.  It was designed to help stabilize the market and that’s exactly what we’ve seen it do in Charleston” said Willits.
Rising mortgage rates and the uptick in buyer activity could encourage potential buyers looking to make an investment in real estate before they are priced out of the market.  Following last week’s rise in mortgage rates, from 5.03% to more than 5.20% last Wednesday, some potential buyers realize that low rates and market affordability won’t last forever.  For every 1 percentage point rise in rates, 300,000 to 400,000 would-be buyers are priced out of the market in a given year, according to the National Association of REALTORS®.
There were 9,849 active listings on the market as of March 31, 2010.  March represents the third consecutive month with less than 10,000 properties on the market.
Preliminary numbers reported for February 2010 indicated 509 properties had sold at a median price of $179,900.  Adjusted numbers now show that 541 properties sold at a median price of $179,755.
In March, 145 homes sold at a median price of $163,343 in Berkeley County reflecting a 6% increase in sales volume and a 1% change in median prices when compared to last March, when 137 homes sold at a median price of $165,000.
378 residential properties changed hands in March in Charleston County, increasing by 31% when compared to March 2009’s 288 sales.  Median prices have risen 9% since last year, settling at $246,000 this month.
142 homes sold in Dorchester County in March at a median price of $148,400.  Sales activity has increased by 27% when compared to March of last year, when 112 homes sold.  Median prices have dipped 8% to $148,400 as compared to March 2009, when the median home price was $161,000.

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20 April 2010

Short Sale in one of the oldest Charleston neiborhoods - Riverland Terrace

This Short Sale is not one to let get by! 

 This home has three bedrooms and three baths with over 2200 square feet. This beautiful home is a short sale and will make some lucky family very happy! Don't let the modest outside fool you. Inside this short sale home is a jewel, a perfect combination of contemporary style and classic bungalow architecture. Remodeled in 2001 with Green features - dual master suites - up & down, extra large eat-in kitchen with energy star appliances & large pantry closet, large living room with oak hardwood floors, a guest bed and bath, a home office on each floor, screened in spa-ready tiled patio, laundry room, two extra storage closets, lots of natural lighting, private landscaped backyard with deck, privacy fence and a wired tool shed nestled under a grand live oak tree. Thermal windows & doors, vinyl siding, extra insulation, energy star appliances and dual HVAC units keep utilities very low. Add this home to your short list and don't miss the opportunity to live in one of the best neighborhoods on James Island. Walk to popular dinner theater, restaurants, golf course, boat landing, two play parks- one only steps from your door. Quiet street: no cut through traffic, 10 minutes to downtown or Folly Beach. 

There is not any Home Owners Association covenants to restrict your lifestyle. No flood insurance. 1940's neighborhood with 100 year old grand trees and modern, eclectic style. Least expensive sqft price for this neighborhood. Owners loved this home but were transferred out of state and this Short Sale is more than worth the investment. So pick up the phone and give me a call to get this ball rolling!

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Short Sale Charleston SC Handy Man's Dream

Don't Miss This Charleston Short Sale


The short sale price has been approved by the bank, and can close with-in 45 days. This is a handy man's dream!!! The house needs to be completely renovated. This 2800+ sqft home has 4 bed rooms and 2 and 1 half baths sits on 2.64 acres with a detached garage. The tax appraisal on this home is $732,000. This is a great opportunity to take advantage of a down market. The lot can also be subdivided into to 7 lots to build on.

Pick up the phone and give me a call to see this Charleston Short Sale!

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