Charleston real estate market report, home prices, Feb 08
February 28, 2008 | Leave a Comment
The
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.
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12 month comparison |
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Single Family Homes |
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Under 600k |
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Date |
Sales |
Avg Sale |
Median |
DOM |
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12 months 2/1/2006-1/31/2007 |
10,846 |
$229,945 |
$204,013 |
65 |
|
12 months 2/1/2007-1/31/2008 |
8,642 |
$233,313 |
$207,000 |
88 |
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Change |
-20.32% |
1.46% |
1.46% |
35.38% |
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Over 600k |
|
|
|
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Date |
Sales |
Avg Sale |
Median |
DOM |
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12 months 2/1/2006-1/31/2007 |
1,138 |
$1,165,555 |
$875,000 |
109 |
|
12 months 2/1/2007-1/31/2008 |
835 |
$1,142,775 |
$850,000 |
155 |
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Change |
-26.63% |
-1.95% |
-2.86% |
42.20% |
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Condos and Townhomes |
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Under 600k |
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|
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Date |
Sales |
Avg Sale |
Median |
DOM |
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12 months 2/1/2006-1/31/2007 |
3,434 |
$194,413 |
$178,550 |
66 |
|
12 months 2/1/2007-1/31/2008 |
2,480 |
$206,187 |
$177,000 |
105 |
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Change |
-27.78% |
6.06% |
-0.87% |
59.09% |
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Over 600k |
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|
|
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Date |
Sales |
Avg Sale |
Median |
DOM |
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12 months 2/1/2006-1/31/2007 |
206 |
$917,727 |
$799,500 |
117 |
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12 months 2/1/2007-1/31/2008 |
184 |
$1,010,233 |
$877,500 |
136 |
|
Change |
-10.68% |
10.08% |
9.76% |
16.24% |
Technorati Tags: Charleston real estate, Charleston market conditions, Charleston home prices
Politics unusual
February 28, 2008 | Leave a Comment
Just for fun, Diebold accidentally leaks results of of 2008 Election early.
Hat tip to Dustin.
Technorati Tags: fun video
list (asking) price vs sales prices
February 27, 2008 | Leave a Comment
Some interesting statistics showing that the list or asking price for homes is much higher than the prices paid in the last year. Despite high inventory, sellers are pricing their homes significantly above what the market has been buying in the past year.
|
|
Average |
Median |
DOM |
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Single Family Homes under 600k |
|
|
|
|
sold prices last 12 months |
$233,313 |
$207,000 |
88 |
|
list prices currently for sale |
$272,372 |
$239,000 |
140 |
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difference |
16.74% |
15.46% |
59.09% |
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Single Family Homes over 600k |
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|
|
|
sold prices last 12 months |
$1,142,775 |
$850,000 |
155 |
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list prices currently for sale |
$1,409,612 |
$999,900 |
194 |
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difference |
23.35% |
17.64% |
25.16% |
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Condos and Townhomes under 600k |
|
|
|
|
sold prices last 12 months |
$206,187 |
$177,000 |
105 |
|
list prices currently for sale |
$240,937 |
$198,900 |
186 |
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difference |
16.85% |
12.37% |
77.14% |
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Condos and Townhomes over 600k |
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|
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sold prices last 12 months |
$1,010,233 |
$877,500 |
136 |
|
list prices currently for sale |
$1,060,758 |
$835,450 |
225 |
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difference |
5.00% |
-4.79% |
65.44% |
The only exception is in the luxury condo and townhome market and what is especially interesting is that classification is showing the best price appreciation in the Charleston area on both an average and median basis (watch for the Charleston market report tomorrow).
Technorati Tags: Charleston real estate, Charleston market trends
The NAR seems to be more forthcoming
February 25, 2008 | Leave a Comment
Many Realtors (R) have been both amused and amazed at the National Association of Realtors comments on market conditions in the past several years and the accompanying commercials touting real estate with an almost closed eye on current market conditions.
We have witnessed the Laughable Lereah and Lawrence (the Yuckster) Yun continue to positively spin the market while statistics proved their all too rosy prognostications to be just that month after month. As Realtors (R), we have almost had to duck our heads in shame.
But now, we are seeming to see the “softer and gentler” side of the NAR. Comments and analysis seem to be much more in tune with reality. I for one am delighted because I prefer to “tell it like it is” with my perspective of the current Charleston real estate market.
But I am very fortunate to be a Charleston South Carolina real estate agent as opposed to an agent in a seriously depressed market. And to give a little slack, the NAR is after all is said and done, a trade organization designed to help their members sell real estate.
Here is something you’ll find helpful. The NAR Economist’s Forecast feed.
Technorati Tags: National Association of Realtors, Charleston real estate
Seth Godin, Advice for real estate agents (quit now)
February 22, 2008 | Leave a Comment
Not quite what you think. Seth Godin provides great advice for real estate agents (quit now) or choose plan B.
Technorati Tags: Seth Godin, Charleston real estate
A blend of old and new in downtown Charleston real estate
February 21, 2008 | Leave a Comment
In downtown Charleston a little further up the Peninsula near the “hip and happening” Upper King Street design district and near the College of Charleston and MUSC, many homes are being renovated and lots of new construction is being developed in the area.
The area has been gentrifying for the past few years with many new restaurants and stores opening to serve the new residents of the area.
When you think of Historic Downtown Charleston, you think of the High Battery, the stately homes South of Broad, the many historic homes from the antebellum era and some of the finest luxury real estate in the country.
But now there are many new housing choices in downtown, and while not inexpensive, offering more affordable alternatives to buyers who are interested in living in the city rather than the suburban areas of Charleston. We are seeing both baby boomer empty nesters who are selling their homes in the suburbs along with members of Gen X and Gen Y choosing to live in the city with easy access to fine dining, shopping, culture and all that
Technorati Tags: historic Charleston, luxury real estate, Upper King Street design center