In Hamlin Plantation, the number of sold homes and the number of homes on the market have remained relatively flat as buyers and sellers work out the right pricing for homes in this neighborhood. From November 2008 to February 2009, nine single family homes sold in Hamlin Plantation. From November 2009 to February 2010, eight homes sold in the neighborhood. In February 2009, there were 39 homes for sale, and in February 2010, there were 36 homes for sale in the neighborhood.

In the November 2008 to February 2009 period, 18 homes sold in Dunes West, while 14 homes sold in the November 2009 to February 2010 period. Similarly, the number of homes on the market has remained fairly stable with 101 homes for sale in February 2009 as compared to 94 homes in February 2010. Pricing has also stabilized in the $150 to $160 per square foot range. With the inventory of available homes in the neighborhood, there are some good values for homebuyers.

Sales in Charleston National have improved dramatically.  In the November 2008 to February 2009 period, only two homes sold in the neighborhood as compared to ten sold homes for the same time period a year later.  The supply of available homes has remained relatively flat with about 25 homes on the market in any given month.  As of February 2010, the inventory (supply) of homes for sale in Charleston National stood at seven months, very close to a balanced market.

The real estate market continues to improve in Mount Pleasant. The supply of homes is down compared to a year ago while the demand for homes has increased. From November 2008 to February 2009 177 homes sold, while 255 homes sold from November 2009 to February 2010 9a 45% increase).  There were 1077 homes for sale in February 2009 and that figure dropped to 951 homes in February 2010 (better than a 10% decrease).  The average price per square foot of sold homes is very close to the same for both periods, indicating price stabilization in the area.

Matt  told me one morning 12 years ago, that after having a dream, he knew what he wanted to be when he grew up.  “Mom, I want to be a potter”. He has been working with clay since the age of 5. He is currently a senior at Bishop England High School on Daniel Island and will graduate in the spring. 

Tomorrow night he is having his first solo pottery reception in Mount Pleasant. He has been an featured artist at Karen’s Korner Art Gallery in Mt. Pleasant for several years.  It will be a fun event with Matt’s pottery, music by Tommy Albrecht and lots of food. Stop by and see why dreams do come true!  Click here to view some of Matt’s work.  Make sure to enter to win a piece of Matt’s pottery.

Matt is donating a percentage of his proceeds to ECCO!

Matt Hunnicutt Pottery Reception

Feb 25, 2010    5-8pm

Karen’s Korner Frame Shop & Art Gallery

1405 Ben Sawyer Blvd. – Mt. Pleasant, SC

Seaside Farms

In Seaside Farms, 24 single family homes sold in 2009 as compared to 19 homes in 2008, 18 homes in 2007, and 25 homes in 2006.

The average days a home in Seaside Farms took to sell in 2009 was 281, up from 205 in 2008. This number was high due to a few homes that had been on the market several years finally selling in 2009.

Homes became more affordable in Seaside Farms in 2009. The average price per square foot of homes that sold was $160/sf as compared to $186/sf in 2008. Note that this figure includes both the tract built homes by Centex and the custom homes in the back of the neighborhood. There were a number of short sales and foreclosures in the neighborhood in 2009 that pulled values down.

The median sales price for single family homes in Seaside Farms dropped to from $446,000 to $391,000 in 2009. Homebuyers looking for homes priced under $400,000 can now afford to buy in this neighborhood. Eleven of the 24 homes that sold in Seaside in 2009 sold for under $400,000.

Snee Farm
Twenty-four single family homes sold in Snee Farm in 2009, down from 28 homes sold in 2008 and 33 homes in 2007. The average number of days a home took to sell in Snee Farm in 2009 almost doubled from 66 days in 2008 to 136 days in 2009, an increase of about two months. The average sold price per square foot decreased to $144 from $160/sf in 2008. The median sales price of single family homes in Snee Farm in 2009 was $290,000, making this neighborhood readily affordable for homebuyers in the $300,000 price range.

Rivertowne Country Club
In 2009, 49 single family homes sold in Rivertowne, down from 59 homes sold in 2008 and continuing a downward trend from 2005’s peak of 124 sold homes. The average days a Rivertowne home was on the market in 2009 was 251, up from 146 in 2008, a jump of 3.5 months. In addition, the average price per square foot dropped to $150/sf in 2009 as compared to $180/square foot in 2008. There were a number of unfinished new construction homes that sold as foreclosures or short sales in Rivertowne in 2009 that really pulled the values down. The average and median pricing in the neighborhood now rests in the low $400,000s, offering some very affordable values to homebuyers.

Old Village
Nineteen single family homes sold in the Old Village in 2009, down from 22 sales in 2008. The homes were on the market an average of 296 days, double the average days on market in 2008. The average sold price per square foot dropped to $293/sf from $334/sf in 2008 and a peak of $373/sf in 2007. The median sales price of the homes that sold jumped from $495,000 in 2008 to $875,000 in 2009.

The number of single family homes sold in Hamlin Plantation in 2009 was 30 as compared to 35 sold in 2008 and the market high of 73 homes sold in 2007. In mid-November 2009 there were 29 single family homes for sale in Hamlin Plantation. By January 3, 2010, there were 33 single family homes for sale although four homes sold from mid-November through the end of the year.

Hamlin Plantation single family homes spent an average of 225 days on the market in 2009, up from 148 days on the market in 2008, an increase of about 2.5 months.

The average price per square foot of single family homes sold in Hamlin Plantation in 2009 dropped to $152/sf as compared to $175/sf in 2008 and the peak of $194/sf in 2006. The median and average sales prices also have decreased year over year since 2007.