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.
Darrell Creek Market Statistics
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.