When considering Real Estate, long term is the key. Let’s take an insightful look at our neighborhood over the past 10 years. And so you know, I watch this market closely, I analyze the numbers, and as a result, I am able help my clients make informed decisions that we can all feel good about!
NUMBER OF HOMES SOLD:
Sales have leveled off and are holding steady, much more of normal market. We were up slightly in 2010 (53 homes sold) over 2009 (49 homes sold), and in line with 2008 (53 homes sold). However, these numbers are an obvious contrast to the market peak of 2005 (88 homes sold.)
AVERAGE SALES PRICE:
Not too bad, really, again holding steady at an average price of approximately $475,000 in 2010 which looks pretty good when compared to 10 years ago, back in 2001 with an average of $370,000. That said, we did see a drop this year when compared to the sales prices of the last two years, which were $550,000 in 2009 and about $580,000 consecutively for years 2008, 2007 and 2006.
Over all, inventory is down, interest rates are appealingly low, buyers are feeling confidence and we are bouncing along what we hope to be the bottom! These are signs of recovery!
I have been selling in the Charleston Real Estate Market since 2000, and I specialize in the Old Village, Old Mt. Pleasant area. If you need help, please feel free to contact me, I am happy to be your guide.