Darrell Creek

Annual Real Estate Market Statistics 

 

	2005	2006	2007	2008	2009 to Nov. 9	Active On Mkt
# Homes Sold	12	7	10	9	6	18
Average Days on Market	55	118	140	99	321	231
Price/Sq Foot	177	199	210	200	140	178
Average Price	519,000	609,000	701,000	597,000	569,000	622,000
Median Price	448,000	580,000	695,000	520,000	473,000	599,000
Lowest Price	356,000	398,000	480,000	345,000	410,000	440,000
Highest Price	838,000	993,000	1,000,000	1,075,000	830,000	1,099,000

 

The number of homes sold in Darrell Creek remained fairly stable from 2005 to 2008. The average number of days that homes were on the market increased from 2005 through 2007, dropped off in 2008 and then took a jump in 2009.  The price per square foot of the homes that have sold increased from 2005 to 2007 and then decreased 2007 to 2009.  The low price per square foot for 2009 and significantly longer days on market are due to distressed property sales in the neighborhood. As distressed properties (foreclosures and short sales) clear the market, home values are expected to improve.

 

In the Mount Pleasant and Charleston area, the number of homes for sale has decreased every month since May, a positive indicator that we are moving toward a more balanced real estate market.  Competitively priced homes in good condition are moving off the market briskly, some going under contract in under 30 days, especially in the Mount Pleasant area.

 

All figures from Charleston Trident Multiple Listing Service, believed to be correct but not guaranteed.