The real estate market looks pretty solid in Mt. Pleasant as a whole, so I thought I would drill down on our neighborhood and take a look at how Quarter 1 of 2020 is faring compared to the past few years. Here are some interesting stats, according to the Charleston Trident Association of REALTORS and reflect single family homes in the Old Village/ Old Mt. Pleasant Neighborhood.
No real surprise that sales were down in Quarter 1, but homes in the Old Village/ Old Mt. Pleasant Neighborhood are still selling! In Quarter 1 of 2020, 24 homes closed, compared to 41 sales in Q1 of 2019 (wow), 37 sales in 2018, 32 sales in 2017, and 30 sales in 2016. So, although the 2020 number is off compared to last year, it is with in the zone of previous years…. and that’s not too bad considering most buyers are shopping primarily online through virtual tours.
Sales prices are holding steady and this is some really good news. For homes sold in the Old Village/ Old Mt. Pleasant Neighborhood in Q1 of 2020, the average price per square foot was $385, compared to $395 in 2019, $365 in 2018, $371 in 2017 and $329 in 2016.
What about the length of time it takes to sell? Q1 of 2020 stats do indicate that, although homes are selling for a solid price per square foot, it is taking a bit longer than usual. Homes in Q1 of 2020 averaged 133 days on the market, compared to 88 days in 2019, 58 days in 2018, 93 days in 2017, and 76 days in 2016.
In summary, things are selling, prices are holding steady, but it may take a bit more time to find your buyer making it more important than ever to chose a full time, professional Realtor who has the experience to help you achieve your goal! f you are thinking of buying or selling, I specialize in this area, and I have been selling here for over 17 years. If I can help, please let me know.
Stats are provided by the Charleston Trident Association of Realtors, and reflect the time frame of Jan 1- Apr 30, for single family homes in the Old Village/ Old Mt. Pleasant Neighborhood.