In spite of all the negative real estate news this past year, the Belle Hall market was not impacted nearly as much as other neighborhoods in Mt. Pleasant or elsewhere in the lowcountry. In fact, the number of homes sold in Belle Hall in 2007 rose to 77 units, up from 72 sales in 2006. While the median price of homes sold in Belle Hall remained constant at $345,000, the average selling price actually went up in 2007 to $487,886, an increase of 7% over the 2006 average of $454,139.
Inventory levels are also down. At the end of the year, there were 36 homes on the market in Belle Hall, down from the peak of 57 in April. This is good news for 2008 as fewer homes on the market will help to further stabilize prices.
While the real estate market will continue to be challenged in 2008, it should be comforting to all Belle Hall owners and prospective buyers that this community has weathered the downturn very well! Obviously, it remains one of Mt. Pleasant’s top choices for home buyers. Its location and wide variety of available homes is a perfect mix in today’s market.
Please check this site regularly to get more information on activity in the Belle Hall real estate market.
The statistics above reflect all activity in Belle Hall Plantation including Rice Bay, The Courtyard, The Veranda, Battery Point, Hibben, Evian and The Islands.