Property Values On The Rise In The Old Village/ Old Mt. Pleasant

QUARTER 1
OLD VILLAGE/ OLD MT PLEASANT

With demand for housing still exceeding the supply of homes for sale, prices take a sharp increase in Q1 of 2022. Here is a review of homes sold in Quarter 1 from 2019- 2022, This data reflects homes sold in The Old Village and Old Mt. Pleasant.

The AVERAGE PRICE PER SQUARE FOOT increased from $447/ square foot in Q1 2021 to $655/ square foot in Q1 2022.

The AVERAGE SALES PRICE jumped from $1 million in Q1 in 2021 to $1.57 million in Q2 of 2022. **Note: 101 New Street closed for $7.8 million on 2/23/22 and was removed from this data as an outlier.

The AVERAGE DAYS ON MARKET dropped from 137 days in Q1 of 2020 to 23 days in Q1 of 2022.

QUARTER 1
OLD VILLAGE/ OLD MT PLEASANT

If you are looking to buy or sell, it has never been more important to team up with a full-time, professional REALTOR who knows your market. If I can help, please contact me today. Jackie@TheCassinaGroup.com

**INFORMATION PROVIDED BY THE CHARLESTON TRIDENT MLS

Jackie’s Recent Neighborhood Sales!

Hello neighbors! I have been specializing my business in the Old Village for the past 20 years. Today’s real estate climate is extremely competitive, which is why you need a knowledgeable REALTOR working for you. I have years of experience navigating the delicate nuances of buying or selling a home, and I would love to work with you. Please give me a call at Jackie@TheCassinaGroup.com. You can also stay connected with the Old Village by following The Old Village on Facebook!

Buyer needs, can you help?

Good Morning Neighbors! I have buyers ready in these categories, do you know of anyone who wants to sell? If so, please contact Jackie@TheCassinaGroup.com.

MT PLEASANT SOUTH OF THE IOP CONNECTOR- UP TO $1,500,000

OLD MT PLEASANT BRICK RANCH UP TO $800,000

MT PLEASANT SOUTH TOWNHOME UP TO $650,000

MT PLEASANT SOUTH HOME UP TO $950,000

OLD VILLAGE/ OLD MT PLEASANT UP TO $1,300,000

Tracking OV/ Old Mt. P Home Prices Over 20 Years

With an appreciation rate of almost 5% per year, our neighborhood is tracking ahead of the national standard.  According to Black Knights latest report, they have cited a national appreciation rate of 3.8% per year. This is great news for the OV/ Old Mt. P! 

The average home sale price was $477,000 in 2000 compared to $1,180,000 in 2020. 

I have been specializing my business in this neighborhood for years, so if I can help you better understand today’s market, feel free to contact me at Jackie@TheCassinaGroup.com  

*Statistics provided by the Charleston Multiple Listing Service and reflect single family homes sold in The Old Village and Old Mt. Pleasant Neighborhood as of Feb 18, 2021.

Mortgage Rate Update- low rates = $ saved

mort rates

This chart is helpful to see how a lower mortgage rate can equate to dollars saved.   So while inventory is low, sellers are benefiting by being able to command a higher sales price, but buyers are benefiting with historically low interest rates.  Give this some thought if you are considering the pros of selling and buying in today’s market!   And feel free to contact me if I can provide any additional information.  I’m confident I can help!

Old Village/ Old Mt. P Market Update

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.

sng fam homes sold

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.

ave pr per sq ft

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.

days on mkt

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.

 

 

 

 

Charleston-area Home Showings Drop for 11th Straight Month

jk sold

Interesting information from the Post and Courier, and while I must agree with the stats, I will say that working with a seasoned Realtor, who knows your market, is the key to going under contract quickly.  As an example, my most recent Old Village Listing 209 Greenwich Street, went under contract in 7 days. 

From Warren L. Wise, Post and Courier

While Charleston-area home sales are just slightly off last year’s pace through the first half of the year, home showings continue to lag.

For the 11th consecutive month, the number of people walking through doors to check out a house dipped across the Lowcountry in June.

The ShowingTime Showing Index for the Charleston region reported the number of doors being opened for prospective buyers dropped 6 percent in June. Showings have been down every month since last August and are off an average 9.4 percent over 12 months through June.

The good news is the negative showing rate has moderated in recent months from the double digits last fall and earlier this winter.

Sales are down for the year through July a scant 0.6 percent, but if more homes were available at price points people could afford, sales would be higher, according to Wil Riley of the Charleston Trident Association of Realtors.

“The rise in home prices is outpacing income growth,” he said. “In our region, the $53,000 median household income does not align with a median home price that’s climbing toward $300,000.”

Nationally, showings dipped 1.8 percent, and an official with the Showing Index said declines have moderated across much of the nation.

“Activity in the South and Midwest remains slightly slower than in 2018, though there is more buyer activity in the lower price quartiles of the market,” said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. “Pricier homes continue to see less traffic compared to the same time last year.”

It has never been more important to work with a full time, professional Realtor who knows your market.  If I can help, please contact me at Jackie@TheCassinaGroup.com

 

Build Your Dream Home-Vacant Lot For Sale in Old Mt. Pleasant!

1424 Pocahontas Street is now available for purchase for $550,000.  Large lot (almost a half acre) with mature trees lining the property, ready for your dream home in the highly desirable Old Village/ Old Mt. Pleasant neighborhood. Flood Insurance NOT required.  Email me for info, Jackie@TheCassinaGroup.com.

 

Client Testimonials

Jackie went the extra mile…and so much more!
In a transaction that seemed to have an impossible list of extra barriers that would have usually caused buyer or seller to throw their hands up and walk, she was the glue that held things together.  Her professionalism, integrity and care are extraordinary.
Thank you Jackie!
– Mark
We loved working with Jackie. When we fell in love with our (now) forever home, Jackie helped us get everything in place as quickly as possible–we were under contract within a day and closed 30 days later! Jackie was incredibly helpful throughout the process–always responsive to any questions and making sure we were comfortable with the process. Jackie is friendly, professional, knowledgeable and diligent, everything you could want in a Realtor! As a first-time home buyer, I cannot imagine a better outcome, thanks to Jackie!
– Abby and Doug
We have bought and sold several homes with Jackie, and have always been very pleased.  She draws upon her extensive experience to smoothly navigate client’s through transactions, making what could be a stressful process easy and understandable.  Jackie is an asset to Charleston real estate we feel very lucky to have found her!
-Kate and Christian Malpeli
We can’t thank Jackie enough for bringing us the perfect buyer! She is prompt, professional and excellent at her job. She was determined to sell our house and she made it happen! Jackie is a Rockstar!
-Sarah and John Dewey