Category Archives: Brickyard News

Mount Pleasant Real Estate Update – 9/25/14

We are always asked….How is the real estate market in Mt. Pleasant?  And the answer is always the same…..”it’s great”.  So what does that mean exactly?

The Mt. Pleasant Real Estate Market is Always Great…Or is it?

Every real estate market is always good for some, but not all.  For example, if you are a buyer and the inventory is quite low, it’s likely a great market for sellers.  But if there is a high supply of inventory, then it’s likely a better market for you, the buyer.  It’s all about supply and demand.  So what is currently going on in Mt. Pleasant real estate?  Let’s add some perspective to this question… Continue reading

Mt. Pleasant Real Estate Update – 2/11/14

The Mt. Pleasant real estate market is off to a blistering start to the new year!!  All measurable categories are outpacing the start we had during the same period last year such, including the most important one…PRICING!!  Here are some highlights:

2014 – January 1st Thru February 11th:

  • Median Price – $350,717 – up 18.9%
  • Homes Sold – 156 – Up 10.6%
  • Selling Price per Square Foot – $183 – up 10.9%

Mt. Pleasant Condo/Townhome Sales Surging…

While the numbers above represent the overall Mt. Pleasant real estate market, there are some significant stories to highlight in various segments of our market.  For example, the number of multi-family units sold (condos and townhomes) is up 39% over the same period last year, but the median price has remained relatively flat.  In contrast, the median price of single family homes sold YTD is up 21.3%, yet the number of homes sold is only up 2.7%.

Demand for Mt. Pleasant homes is Catching Up With Supply…

Pricing for single family homes is up because demand has caught up with supply.  And in some cases, the demand is exceeding the supply.  The Mt. Pleasant condo/townhome market has been playing a bit of “catch up” with demand over the last year and a half, but that market is now primed to see some significant price growth if the current sales trend continues.

MTP MOI Feb 2014The chart above shows the months of available inventory by price range for the Mt. Pleasant real estate market.  As you can see, virtually every price range is in a rather strong “seller’s market” (below 6 months of inventory).  Once you go above $750K in asking price, the market is still favoring the buyers.  But it is trending in the right direction (if you’re a seller!!) and I expect the inventory in that price range to continue coming down this spring.

If you are a buyer looking for a home above $750,000….HURRY!!  Now is the time!!  Prices have yet to take off and interest rates continue to be low!!

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.  And 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 the top realtors in Mt. Pleasant during the past 12 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.

 

More Gains Expected in 2014

Experts recently emphasized what we’ve been expecting: The US and South Carolina housing market will show even better gains in 2014. Evidently, experts believe that it will be a strong year for housing, despite the fact that sales are likely to level off slightly.

Those interested in buying and selling real estate in South Carolina in 2014 will surely find the following information helpful as they navigate the market! And the Chuck Avera Group would be happy to assist you as you do so!

Good News for Real Estate

  • 2013 represented the best year for housing since the financial crisis.
  • When all was said and done, home prices increased about 11.5 percent in 2013, which was the biggest gain since 2005.
  • And sales of existing homes reached 5.1 million in 2013, the National Association of Realtors said.  That’s an increase of 10 percent from the previous year.
  • That figure is also the highest it’s been since 2006.
  • Home prices are expected to increase 5 to 6 percent in 2014, which is about half of what it was in 2013.
  • The number of foreclosed homes has dropped significantly in the last several months, suggesting that the foreclosure crisis is nearing an end.
  • In South Carolina, 2013 foreclosures dropped 19% from the previous year.

Locally, in Charleston, economists believe the housing market will continue to put up high sales numbers in 2014, but not at the 21% growth that was set in 2013. And who wouldn’t want to live here! Watch the following video for a great reminder of Charleston’s beauty!

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Holiday Season is a Great Time to Sell Your Mt. Pleasant Home

As we approach the holiday season, Mt. Pleasant home sellers always ask us one of two questions:

  • Shouldn’t I just wait until after the holidays before putting my house on the market?
  • Don’t you think I should take the house off the market during the holidays?  No one is buying anyway…

These are very common questions and they are fueled by the myth that no one is looking at homes during this time, much less buying.  Well, I’m here to dispel that myth!!  First, let’s review some statistics… Continue reading

Mount Pleasant Real Estate Market Update – September 10th

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… Continue reading