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I’On Real Estate Market Update – 11/28/12

Since my last update on October 17th, there have been 9 more home sales in I’On.  That’s about 1 closed sale every 4-5 days!!  Not bad for the fall season!!  Below is a list of these homes and their selling prices:

  • 40 Sowell Street – $485,000
  • 51 Eastlake – $642,873
  • 66 Hopetown – $670,000
  • 150 Ionsborough – $675,000
  • 20 Ponsbury – $789,000
  • 70 Hospitality – $799,000
  • 59 Krier Lane – $950,000
  • 47 Frogmore – $975,000
  • 30 Hopetown – $1,575,000

Average Sales Price for I’On Homes Starting to Rise…

The average selling price per square foot for these 9 homes was $232 which is on par with the average YTD for all 50 homes sold in I’On.  However, the average sales price of these 9 homes is $840,097.  This is about 14% higher than the YTD average for the homes sold prior to October 17th.  This could be a signal that the upper end of the I’On real estate market is starting to move.  As you all know, that segment of the I’On real estate market has been sluggish while the lower price ranges have been much stronger this year.

I’On Home Sales up 19% in 2012…

Overall, the number of homes sold in I’On in 2012 is up 19% from last year.  This is a strong year over year increase and certainly indicates that the market is moving in the right direction.  To add some perspective to this increase, the chart below reflects the increase in the number of homes sold YTD in other segments of the local real estate market.  If you would like to see the details of all 50 homes that have sold in I’On this year,  click here.

Although downtown Charleston is leading the charge this year, the I’On real estate market is outpacing the average in the overall market by almost 2 to 1.  In addition, there are currently only 28 I’On homes for sale.  This is good news for sellers…..If inventory remains low, prices will likely move in a more positive direction as we head into 2013!!

Stay tuned to this page in the coming months as I will be providing regular updates on the real estate market in I’On.

Thinking of Selling, or Just Have Questions?  Call Me…

Please give me a call if you have any questions about this post or need other specifics about the I’On real estate market.  If you are thinking of selling, please contact me to learn more about my marketing program for your home.  I have sold dozens of homes in I’On over the years and have an intimate knowledge of this community, what buyers are looking for, and how to get your home sold.  Have a great week and I hope that you continue to take advantage of all the special activities and events that I’On has to offer!!




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