The I’On real estate market continues to be very strong in 2015. Prices are still creeping up which is still very good news if you are thinking of selling your I’On home! While the number of homes that have sold this year has decreased from last year, the average sales price has increased from 2014. Sold homes are also receiving on average 95% of their asking price. Here are some key data points from this year so far:
- I’On Homes Sold – 40
- Median Price for Homes Sold – $996,806
- Average Selling Price/Square Foot – $307
- Average Days on Market – 110
I’On’s selling price per square foot has always outpaced North and South Mt. Pleasant and it continues to do so! This trend shows the continued desirability of owning and living in the I’On community. In addition, there are currently 10 I’On homes that are under contract or pending closing that range in price from $549,000 to $1,749,000. If you would like additional information on I’On home sales so far this year, please click here.
Today, there are 26 homes for sale in I’On. This is fairly consistent with the number of homes that were on the market last August. Inventory usually climbs during the summer months, so this number of homes for sale is not unusual. With an average of only 5 months worth of supply for the I’On market, we remain in a strong seller’s market. However, homes priced above $1M tend to have closer to 7 months of supply which does not favor the buyer or the seller in a significant way. Below are some details on the I’On homes for sale:
- Homes for sale – 26
- Median Asking Price – $1,270,000
- Asking Price/Square Foot – $332
- Average Days on Market – 138
Thinking of Selling, or Have Questions? Call Us!
Please give us a call if you have any questions about this post. If you are thinking of selling, please contact us to learn more about my marketing program for your home. We 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.
As we predicted at the end of 2013, the I’On real estate market did not see significant changes in 2014. The market appears to have leveled out and growth has become more steady. Below is a snapshot of 2014 sales activity for the community. To put the year in perspective, we have included the percentage growth in these numbers as compared to 2013.
I’On homes sold – 70 ~ up 3%
Average Selling Price/Square foot – $298 ~ up 6%
Average Selling Price – $957,690 ~ up 10%
Average Days on Market – 85 ~ down 26%
(Note: Click here to view details on all I’On homes sold in 2014)
The average sales price is inching closer to one million dollars, which is great news for home owners. And the time it takes to sell a home in I’On has decreased by around 30 days. This is all good news for home sellers, it simply isn’t the significant changes we saw in 2013. Continue reading
Since my last report to you on August 22nd, the I’On real estate market has continued to thrive!! During this period, we have had 7 additional I’On homes close, bringing the total to 59 for 2014. These homes are listed below along with their selling price and price per square foot… Continue reading
Real estate prices are up all over the metro area in 2014, but the Mt. Pleasant real estate market is leading the way!! During the last 12 months, the median selling price in Mt. Pleasant is up 17.8% to $371,000. The chart below reflects how our market compares to other key geographic areas in Charleston:
The I’On real estate market continues to be very strong in 2014. Prices are up and the average number of days it takes to sell an I’On home is down. Very good news if you are selling your home! Here are some key data points from this year and the percentage change from the same period last year:
- I’On Homes Sold – 52 – Up 6%
- Median Price for Homes Sold – $883,450 – up 18%
- Average Selling Price/Square Foot – $293 – up 7%
- Average Days on Market – 89 – down 26% Continue reading
Mount Pleasant Home Prices Continue to Climb…
The Mt. Pleasant real estate market continues to strengthen, as evidenced by a continued rise in home prices this year. This is due to continued high demand (particularly for new homes), low interest rates and inventory levels that continue to fall. Continue reading
The I’On Real Estate Market Continues to Strengthen…
The I’On real estate market continues to be strong in 2014! So far this year, the number of I’On homes sold is up 22% over the same period in 2013. Below are the details:
2014 Activity Through May 21:
- I’On homes sold – 28
- Average Selling Price/Square foot – $286
- Median Selling Price – $847,500
- Average Selling Price – $892,407
- Average Days on Market – 101
To see details on all of the I’On home sales in 2014, click here.
I’On Home Pricing Continues Upward Trend…
I’On home pricing continues to strengthen as well. YTD, the median price of all homes sold in I’On is $847,500. This is a 19% increase from the same period last year. In addition, the average selling price/square foot is up over 6% from the same period last year. The big jump in median price is due to a 38% increase in the number of $1M+ I’On homes sold YTD.
As selling price/square foot is always a popular measure for I’On homeowners and buyers, I am including a chart showing the trends for this metric for the last several years:
I’On is a Sellers Market, For the Most Part…
With just 20 I’On homes currently on the market, we have only 4 months supply of inventory available in the neighborhood. This is based on the last 6 months of sales history. This indicates a strong sellers market, but this number does vary by price range.
Months of Inventory in I’On by Price Range:
- Below $750K – 1.8 months
- $750K to $1M – 3.3 months
- Above $1M – 7.3 months
While demand for homes above $1M in I’On has improved dramatically in the last couple of years, we still have over 7 months supply of inventory available. This represents a very stable market, but not one that favors the buyer or seller in any significant way.
Thinking of Selling, or Have Questions? Call Me!
Please give me a call if you have any questions about this post. 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 Memorial Day weekend and I hope that you continue to take advantage of all the special activities and events that I’On has to offer!
Since my last report to you on February 7th, the I’On real estate market has picked up steam!! During that time, we have had 10 homes go under contract, including 6 in just the last 5 days!! These homes are listed below along with their most recent asking prices. With the exception of 313 North Shelmore, all of these homes are still pending… Continue reading
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.
The 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.