What's the Skinny on the Edisto Real Estate Market???
Edisto Beach, SC Date: 11/30/2009
Residential Real Estate Sales Up 31% from October 2008
CHARLESTON, SC—(November 10, 2009) Preliminary data from the
Charleston Trident Association of REALTORS® showed a 31% increase in
closed sales year-over-year. 721 homes sold this October, as compared
to 549 homes in October 2008.
The increase in sales is largely attributed to a more affordable
market, as buyers take advantage of the robust inventory of fairly
priced homes. In line with the national trend of an 11% decrease in
median price, the Charleston area saw median home prices settle to just
under $170,000 in October, a 13% variation in price from 2008.
Inventory dropped slightly again, with 10,631 homes currently listed
for sale with the Charleston Trident Multiple Listing Service.
BERKELEY COUNTY
Berkeley County sales were up 25% from October of last year; 186 homes
sold at a median price of $155,000. In October of 2008, 149 homes sold
at a median price of $169,900.
CHARLESTON COUNTY
In the last 30 days, 339 homes sold at a median price of $205,000 in
Charleston County. That reflects a 9% increase in sales, from last
year’s 312 closings during the month of October.
DORCHESTER COUNTY
Sales in Dorchester County increased by 53% year-over-year; 177 homes
sold at a median price of $152,700 compared to 116 sales at $167,663 in
October 2008.
Edisto Island and Edisto Beach
Unfortunately for the Edisto Area, sales were still dismal at
the end of November. Everyone had hoped the small bump in October was
a sign that the worst was over. We will just have to wait and see what
the future brings. We are seeing a lot of opportunist buying
especially good deals. The regular second home buyer has not yet
returned to the market.
Residential Data
Total Listings on the Market: 203 active listings Average
Price: $729,193 Median Price: $579,000 Highest Price: $4,275,000 Lowest
Price: $85,000 Average DOM: 357
Total Listings Sold: 60 closed transactions-Average
Price: $445,835 Median Price: $399,500 Highest Price: $1,450,000 Lowest
Price: $117,000 Average DOM: 203
Vacant Land and Lots
Total Listings on the Market: 265 Active Listings- Average
Price: $325,773- Median Price: $209,000- Highest Price: $2,500,000-
Lowest Price: $29,000 -Average DOM: 501
Total Listings Sold: 19 closed transactions-Average Price:
$188,205- Median Price: $128,000- Highest Price: $825,000- Lowest
Price: $22,500- Average DOM: 289
Edisto Homes MLS
Edisto Vacant MLS
I
believe that we are at or near the bottom of the market. Values are
nearing 2002 ranges. It's a Great time to buy a one of a kind on
Edisto!
Cal Griffin
The Edisto Real Estate Advisor
843-908-2101
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Filed under: Real Estate, Market Conditions, For Sale, For Rent/Lease, Open Houses, Events, Technology, Industry, Point2, Product Reviews, Finances, Buyer Information, Seller Information, Edisto Island, Ocean Front, Edisto Beach, Edisto Realty, sc, beach walk, deepwater, resort, marshside, Edisto Beach Real Estate, Edisto MLS Search
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