While certain price ranges of the Mount Pleasant housing market (below $500,000) seem poised to stabilize in 2010, the scenario for vacant lot sales is much different. This segment of the Mount Pleasant real estate market has been hit very hard in recent years. After peaking in 2005 with 501 lot sales, there were only 75 lots sold in 2009.
The 2009 Mount Pleasant real estate market continued to be a challenge for sellers and it represented value opportunities for buyers. We are clearly still in a buyer’s market as there is much more inventory than the demand currently supports. More on that later. First, let’s review some of the numbers for 2009:
2009 certainly was an interesting year in the I’On real estate market! If you were selling your I’On home last year, there were many market dynamics that created lots of challenges. Price pressure from short sales and foreclosures, stricter mortgage lending requirements, and the general state of the U.S. economy all contributed to a very difficult market for I’On home sales in 2009.
Let’s take a look at some of the numbers for 2009:
Chuck Avera