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
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 Builders are Back in Mt. Pleasant…
During the real estate downturn, new home construction in Mt. Pleasant came to a screeching halt. But since the Mt. Pleasant real estate market began to turn around a couple of years ago, we have seen a dramatic shift. The builders are back in Mt. Pleasant!! And they are back in force!! Here are some very interesting statistics: Continue reading
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!
2013 was an amazing year of growth for the Mt. Pleasant real estate market!! There was major growth in the number of homes sold and the overall volume of homes sold fell just short of $1 billion!! There were also significant gains in pricing, both in terms of median price and sold price per square foot. Below is a summary along with the percentage growth from 2012… Continue reading
The sales of new U.S. single family homes fell only slightly in November in the wake of higher mortgage rates.
Meanwhile, prices on new homes continued to rise, signaling to national housing market experts that the market truly is weathering higher mortgage rates, according to a recent news article. Continue reading
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
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! Continue reading
The Mt. Pleasant real estate market is off to a fast start in 2013!! So far this year, the number of homes sold in Mt. Pleasant is up 17% over the same period last year!! Below are the details:
2013 Home Sales – Through 2/27/13:
- Homes Sold – 194 (up 17%)
- Selling Price per Square Foot – $163 (up 12%)
- Median Selling Price – $299,500 (flat)
The momentum that began in 2012 is clearly continuing this year. And the news gets even better…
The Mount Pleasant real estate market continued to stabilize in 2012. Some segments of the market saw significant growth while others did not fare so well. More on that later in this post. First, let’s review the number of units sold in 2012 and the breakdown…..
Mt. Pleasant Home Sales Up 22% in 2012…
Overall, there was significantly more real estate sales activity in 2012 versus the previous year. The number of homes sold in Mount Pleasant was up 22% in 2012. This includes both single family homes as well as condos and townhouses. As depicted in the chart below, the rate of growth varied by price range. For example, the number of homes sold below $200K grew a whopping 31% while the number of homes sold above $1M was down 16%. Continue reading