Mount Pleasant Real Estate Market Update – July 15th

The Mount Pleasant real estate market has been booming in 2013.  Through the first 6 months of the year, the number of homes sold is up over 34% from the same period last year!

Mount Pleasant Homes Sales Return to 2006 Levels…

The chart below reflects the trend for the 1st half of the year for each year since 2006.  As you can see, we have sold as many homes this year as we did in 2006 when we were in the midst of the real estate bull market!!

 Units Sold

Home Sales in Mt. Pleasant Above $400K are Surging…

There has been a very significant jump in sales activity for Mt. Pleasant home sales above $400,000 this year.  When home sales above the median price (currently at $315,000) are outpacing the lower priced homes, it is a very healthy sign for the overall Mt. Pleasant real estate market.  Mt. Pleasant home sellers in the more expensive price ranges have been waiting several years for this to happen!

The chart below shows the percentage increase in units sold by price range in 2013 through the first 6 months.

Activity Increase

Mt. Pleasant Home Pricing “Inching” Up…

So what does all this increased sales activity mean for pricing?  When sales activity surges, there is an increase in pricing that ultimately follows.  Sometimes it can be a year or so before there is a noticeable increase as it takes time to work through the existing inventory.  We are starting to see that now as reflected in the chart below.

Median Price

As you can see, the median selling price is up slightly this year in Mt. Pleasant and I expect this number to rise if we continue the current sales momentum, particularly in the higher price ranges.

So stay tuned as we will be watching the pricing trends very closely and reporting back to you in the coming months!

Thinking of Selling or Just Have Questions About Real Estate?  Call Us!

Please give us a call if you have any questions about this post or need other specifics about the Mount Pleasant real estate market.  If you are thinking of selling, please contact us to get a market analysis for your home and to learn more about our marketing programs.

Paige and I have been two of Mount Pleasant’s top selling realtors during the past 10 years.  We have an intimate knowledge of this community, what buyers are looking for, and how to get your home sold.  Also, check out our web site….We have lots of great information on the Mount Pleasant market, including some great info on many of our neighborhoods.

 

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