While we are starting to experience the slow down we typically see in the Mount Pleasant real estate market after school starts back, the performance of the market in 2013 remains very positive. I recently completed an analysis of several key categories that I’d like to share with you. All of these reflect the positive momentum that we have been experiencing in the Mt. Pleasant real estate market for the past couple of years…
Current Trends in Mt. Pleasant Real Estate:
Median Home Price – Up 4.8%
- Current median price for Mt. Pleasant home sales is up to $325,000
- One-half of all Mt. Pleasant homes sold during the last 12 months are above this number and one-half are below
- Highest level since January, 2009
Selling Price/Square Foot – Up 10.7%
- Common denominator used by buyers and agents to determine value and offer price
- Very useful when analyzing “tight” markets such as a particular neighborhood or subsection where most homes have similar features, location, etc.
Average Number of Days on Market – Down 27%
- Currently, the average is 68 days from list date to purchase date
- Down from 94 days in August of 2012
- Not all homes will sell in 68 days, but…
- If your home is priced competitively and in great condition, you will likely get it sold in less than 68 days
Sales Price as a Percentage of Original List Price – Up to 95.9%
- At the bottom of the market in 2009, sellers were only receiving 88.2% of their original asking price
- Today’s percentage of 95.9% is the highest we have seen since February 2007.
The Bottom Line??
Clearly the Mt. Pleasant real estate market has shifted in the last couple of years. Sellers are the primary beneficiaries….They are getting more money for their homes and they are getting them sold in less time. While this is true for the overall Mt. Pleasant market, certain price points are faring better than others. For example, there is still a lot of pricing pressure on homes above $1M in our market as the demand has not caught up with the supply as it has in the lower price points. I will provide you with a complete update on this dynamic in my next post….Stay tuned!
Thinking of Selling…Or Just Have Questions? 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.