Happy New Year! We hope that you had a wonderful holiday season. Now that 2014 is behind us, it’s time to take a look at how the Mt. Pleasant real estate market fared for the year. While 2013 real estate trends saw major growth in the number of homes sold and solid price increases, 2014 market did not bring significant changes. However, the market continues to be strong and the steady growth keeps keeps us in a market that is generally favoring the seller.
2014 Mt. Pleasant real estate stats:
- Homes Sold – 2,364 ~ up 1%
- Volume Sold – $1,033,081,563 ~ up 10%
- Median Price – $375,000 ~ up 10%
- Average Price – $437,000 ~ up 10%
- Average Days on Market – 67 ~ up 6%
Median Price Gain
After years of flat pricing, we’ve finally caught up and surpassed the peak median sales price seen during the housing boom. As you can see from the chart below, the median price in Mt. Pleasant was $375k in 2014, a 10% growth from last year and 7% higher than the peak in 2007. This continues to be very good news for Mt. Pleasant, especially those who purchased in 2009-2012 when the market was at the bottom.
The Year Ahead
Expert economists Stephen Slifer and Dr. Joey Von Nessen expect more positive growth in 2015. “If you liked 2014, you’re really going to like 2015” said Dr. Von Nessen. He pointed to several economic indicators that should help support continued growth in the Charleston and statewide real estate markets—consumer confidence, low unemployment, job growth, declining oil and gas prices and the upward movement of unit sales and prices in our real estate market.
Time to Sell?
Please give us a call if you have any questions about the information in this post or if you are ready to see if it is the right time for you to sell your home. We can provide a free market analysis of your home and explain our marketing strategies to get your home sold! Just want more info? Visit our website where you can find information on specific Mt. Pleasant neighborhoods.