We ended 2007 with an MLS active inventory of 9086 units with an average list price of $513,129. This level is a decrease over the last quarter of the year. The average days on the market was 167 days. Looking now at this year's statistics. For the CY 2007, there were 12,183 closed transactions with a value of over $3.8 billion. The average days-on- market (DOM) was 94 days. Sellers realized 96.51% of the asking price.
For the year ended 2007, there were 175 closed transactions in Sullivans Island, Isle of Plams and Wid Dunes with an average sales price of $1,354,508. The average time or days on the market was 191 days. Sellers realized 92.24% of the asking price.
Year to date, there have been 26 closed transactions with an average sold price of $959,231, average days on market is 208, sellers realized 89.17% of the asking price. Currently there are 574 active listings with an average list price of $1,524,980. These properties have been on the market an average of 272 days.
As has been the case for a year or more proper pricing remains the single most important factor in sales equation. Prices remain strong, even increasing in some MLS areas. However, competitive market pressures often require sellers to price their properties properly to sell.However, competitive market pressures often require sellers to price their properties properly.Buyers recognize that sellers are becoming more motivated to sell as the season progresses and are waiting for better pricing.
ZIP Code: 29451 Approximate Location Boundaries: Barrier Islands North of Downtown Charleston
Location Characteristics: Very upscale beach front communities which is relected in the prices demanded and obtained. Adjacent areas include Sullivans Island, Dewees Island and Wild Dunes resort.
About Lloyd Gunn:
Specializing in Historic Homes on the Charleston Peninsula; Plantations, Hunting Lodges and Horse Farms in Charleston, Berkeley and Dorchester Counties; Golf Course Homes and Ocean Front Properties in Mt. Pleasant, Summerville, James Island, Daniel Island, Kiawah Island, Isle of Palms and Sullivans Island. Lloyd Gunn helping to discover and buy the Fine Home of your dreams.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
