Homes priced below $400,000 in Seaside Farms are selling quickly while higher end homes in the Cathedral Oaks section of the neighborhood and tract-built homes priced over $450,000 are sitting on the market. In February 2009 there were 27 homes for sale in Seaside Farms and that number dropped to just 13 homes in February 2010 for a very low four months of inventory.

In centrally located Snee Farm, the number of sales has increased while the number of homes on the market remains flat. From November 2008 to February 2009, three homes sold in Snee Farm. From November 2009 to February 2010, eight homes sold in the neighborhood. The number of homes for sale in Snee Farm in February 2009 was 22 as compared to 24 homes on the market in February 2010.

The market appears to be improving in Rivertowne as the number of sales is up and the supply of homes for sale is down compared to a year ago. In the November 2008 to February 2009 period, 13 homes sold in Rivertowne. From November 2009 to February 2010, 18 homes sold. There were 82 homes for sale in the neighborhood in February 2009 and that number dropped dramatically to 57 homes in February 2010. Demand is up and supply is down indicating a positive market shift in this neighborhood.

The supply of homes for sale in Park West has been stabilizing, running about 80 to 85 homes for sale for the past three months and down from well over 100 homes for sale in the first quarter of 2009. The number of homes that sold declined monthly over the past quarter but is up year over year. In the December 2009 to February 2010 period, 36 homes sold while only 17 homes sold for the same period a year earlier. Demand is up and supply is down in Park West, indicating a positive shift in the real estate market.

The Old Village of Mount Pleasant has seen an increase in the number of homes sold with a corresponding increase in the number of homes for sale. From November 2008 to February 2009, just one home sold in the Old Village. From November 2009 to February 2010, seven homes sold. This good trend is offset by the number of homes for sale, which was 53 in February 2009 and increased to 67 in February 2010.

The real estate market continues to improve on Kiawah Island and Seabrook Island. In February 2009, there were 200 single family homes for sale on the islands. That number dropped to 181 homes for sale in February 2010. Similarly, the number of sales has increased from ten homes sold from November 2008 to February 2009 to 17 homes sold from November 2009 to February 2010. Demand has increased and the supply of homes for sale has decreased, a positive shift in the market on these lovely islands.

The real estate market has shown some great improvements on Isle of Palms in the past year. The number of sales almost doubled in the December to February timeframe, from 9 sales from December 2008 to February 2009 to a total of 19 sales from December 2009 to February 2010. The number of homes for sale has been on a downward trend since September 2009. In February 2009, there were 207 homes on the market on Isle of Palms. In February 2010, the inventory of homes was down to 173. Demand is up on the island and supply is down – great news for this island paradise.

Five to eight homes have been selling each month for the past few months on Folly Beach as compared to one to three homes selling per month a year ago. From December 2008 to February 2009, six homes sold at Folly, but the market picked up and 19 homes sold from December 2009 to February 2010. The number of homes for sale at Folly Beach stood at 215 in February 2010 as compared to 258 in February 2009. Clearly the market is slowly improving at Folly Beach.

On the Charleston Peninsula, there are about 950 homes for sale, close to the 972 homes that were on the market a year ago in February 2009. The number of homes sold has improved from 71 homes in the November 2008 to February 2009 period to 95 in November 2009 to February 2010. With so many available homes, the peninsula remains a solid buyer’s market.

Affordable, well-priced homes are selling in Belle Hall. In February three Belle Hall homes sold in an average of two months at a median price of $295,000. The number of homes for sale in the neighborhood increased to 42 in February as homeowners put their homes on the market early this year in hopes of buyers taking advantage of the Homebuyer Tax Credit while it is available. The supply of available homes remains near its lowest level in several years in this popular neighborhood.