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Brickyard Real Estate – A Review of 2007

While Brickyard Plantation remains a very popular Mt. Pleasant community, it had it’s share of troubles in the topsy turvy 2007 real estate market. Home sales in Brickyard were down this past year. There were 45 home sales in 2007 compared to 60 sales in 2006 which represents a 25% decrease. For comparison, single family home sales in all of Mt. Pleasant in 2007 were down 17.5%.

Other key real estate indicators were also down in Brickyard last year. The average sales price was $415,787 in 2007 compared to $505,545 the previous year and the average selling price per square foot was $162 compared to $180 in 2006.

But, there is some good news amidst all of these figures!! The inventory of homes for sale has been steadily dropping since mid 2007. As of the end of the year, there were 27 homes on the market in Brickyard. This is the lowest level since March, 2006 and way below the previous high of 48 homes for sale which occured in March, 2007. If this trend continues, the lower inventory levels should help to stabilize pricing and hopefully result in a much more normal market in 2008.

As the 2008 real estate market develops, stay tuned to this site for more updates on Brickyard and the Mt. Pleasant market!!

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