We are switching our blog posts for market updates from www.allthingscharleston.com to www.move2charleston.com. In an earlier post, I had commented that October was the 1st month where sales topped the previous year.
November, 2009 sales are 62% higher vs November 2008.
823 vs 508 to be exact. Two months isn't completely solid, but it's a heck of a lot better than watching sales go down, down, down. Hopefully, we'll see the trend continue into 2010, particularly when the effect of the new Boeing plant kicks in.
Thanks to my wife for pointing out to me as we were driving by the Coliseum in North Charleston that Bela Fleck and the Flecktones were coming back to town. I've wanted to see them for years, and it just never came together until this last December 5th at the North Charleston Performing Arts Center. First, allow me to fill in those unfamiliar with the group. Bela Fleck is featured on Banjo. Yes, that's right; Banjo. You may find it hard to believe that jazz could be impressive played on a banjo. Judge for yourself. Fleck is an amazing song writer and performer. The things he does on Banjo are truly amazing. The same can be said for Bassist, Victor Wooten. One of my favorite part...
Some people are looking for a place to retire. Others have professions which enable them to choose the city in which they live. Some are simply dreamers that are asking, "If I could live anyplace in the country, where would it be?"
There are 3 major attractions to Charleston SC. First is the weather. While the summers can be tough, many months of the year are very temperate. Charleston is subject to tropical storms and hurricanes, but it doesn't get blasted as often as Florida or even Wilmington and the Outer Banks. Next would have to be the historic district, although this would certainly be based on personal preferance. Until I started trying to learn how to surf, I wasn't muc...
December 2009 was the 3rd month in a row in Charleston with monthly residential real estate sales up over previous year. The "bounce" in December was not as high as October and November, BUT, this report comes on January 11. Many agents procrastinate when listings are sold in changing the status, so all the sales may not have been recorded yet in the MLS.
Another piece of good news is the average cost per square foot. It had dipped as low as $122 in November 2009 and was $132 in December 2009. This number tends to shimmy around, so I'll be looking for a three month trend before getting too excited.
These trends are very significant due to the fact that buyers are understandabl...
Cara and I have lived in Kings Grant for about 5 years now. We purchased a classic "fixer upper" that needed a lot of cosmetic work as well as a new roof, new siding, and some new exterior trim. King's Grant was built in the 70's and there is a wide selection of homes, from custom built homes on the Ashley River, to the more typical homes in the neighborhood, most of which I believe were built by Centex.
It's important to note that neither Cara nor I commute in the morning. If you catch Dorchester Rd at the wrong time, as in, when everyone is taking their kids to school during the school year, you can be in for a long wait. We live on the border of Dorchester County North Charleston...
Unfortunately, January 2010 did not follow the trend of the previous 3 months. October, November and December 2009 all showed substantial improvements of the same month in 2008. January 2010 sales are slightly below January 2009 sales, 405 vs 434. This information is read directly from MLS statistics. There are usually some late postings by agents that don't change the status in the MLS, but it isn't going to be more than 10 or 20. In other words, not enough to exceed last year.
There is some good news. Average $ per square foot have remained steady at $133. This measure had dipped as low as $123 in August of '09. It could also be considered good news that the January sales are ...
Real Estate Sales for April 2010 in Charleston SC were up over April 2009 with 832 transactions vs 580. This seems like a huge increase; however, keep in mind the $8,000 first time home buyer tax credit. Until the effect of this settles out, we won't be able to tell to what degree things are turning around. Inventory levels are still EXTREMELY high, at over 11,000 units and 13 months. This is being exacerbated by new home sales. If time is on your side, it's tough to pass up the experience created by an expertly staged sales model, particularly for first time home buyers.
So what's the good news? If you're a buyer and working with a capable, hardworking agent, there are deals to...
Still not much good news for sellers and owners in the Charleston area. It's better if you're in Summerville, Goose Creek, or North Charleston, but there is still WAY too much inventory. That being the case, you must be very clear in your marketing strategy that what you owe is COMPLETELY irrelevant to the picture. Know your competition, and price to win the game BEFORE you end with time being against you. It makes no sense whatsoever to start out with a higher price, just because you still have a few months. You'll get the best price by pricing it right to begin with. If an agent tells you different, they're telling you what you want to hear to get your listing.
It's interesting ...
There were lots of people weighing in today's Business section in the Post and Courier...all to say that things aren't going to get any better for sellers any time soon. Values continue to decline, even though inventory has dropped below 10,000 for the first time since the whole sad story began in 2006. Every has their own opinions why, but I don't think anyone really knows for sure. One tricky aspect of getting the truth, is that whenever there is an article in the paper, most of the sources cited are real estate agents. Have you ever seen a real estate ad that said, "Now's a lousy time to buy." I can't think of a single aspect of the equation that substantiates this claim. Nothing...
Charleston area Realtors and home sellers continue to look for good news and are reporting the down tick in inventory as hope that things are turning around. We have to hit bottom somewhere, and we're getting very close we hope. It's anyone's guess really. Inventory finally dropped below the 10,000 mark, but why? And since inventory skyrocketed in 2007, what does it really mean that things don't seem as terrible as when inventory was above 11,000 and 20 MONTHS. 20 MONTHS OF INVENTORY. Golly that's a lot. Now it's down below 13 and that doesn't stink as bad. So yes, I'd say if we were at 20 months of inventory and now we're at 13, we've probably hit bottom as far as that goes. Ave...
|Sales and Inventory Report|
|Category - Residential
Statistics for Entire MLS from 10/1/2008 - 9/30/2011
|Avg List $||Avg Sale $||Avg $/Sqft||Median Sold $||Avg DOM||Avg CDOM||% Sold/List||Current
hire an agent that knows how and is willing to do the work. They don't teach it in real estate classes. Only a fraction of agents are capable of finding you the home you love AND a motivated seller while meeting your deadline. It isn't based on years of experience as an agent, although experience is involved. You, as the buyer, have to make sure you're hiring an agent that's capable of swimming with the sharks without being eaten alive. Otherwise, you will most likely end up with the short end of the stick - short on options and running out of time. You might even end up having to move twice after all.
The first part is simple, but not easy. It starts with the www.move2charlesto...
Enjoy reading the Charleston Trident Association Charleston Trident Annual Residential Annual Report Area Housing Market. According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,212 homes sold at a median price of $215,000 in October. Last October, 1,047 homes sold at a median price of $189,900 in the region.
“Being a Real Estate Professional in 2018”
The future is here, which can be a scary piece of information to digest. But with this, comes change and the ability to evolve. Real Estate and being a Real Estate Professional in 2018 is vastly different than even just a couple years ago. The rise of the digital and social worlds (Facebook, Instagram, LinkedIn, Twitter, etc.) has made an everlasting impact on the Real Estate Industry, which is not a bad thing. I am here to discuss how these changes can be used to your advantage (if done correctly) and how these changes are making this THE time to be a Real Estate Professional.
Real Estate, as an industry, is not going anywhere. Buying a ho...
Enjoy using our Charleston Neighborhoods reference guide for locals and people relocating to the area, community info, emergency related phone numbers, steps for auto registration and obtaining license plates, government offices, newspapers, cable and internet services, tax info on property, sales, and income. Voter registration info and so much more.