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.

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.

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.

PARK WEST

The number of single family homes selling in Park West has remained fairly consistent over the past several years. In 2009, 123 homes sold up from 120 in 2008 and slightly lower than the 135 homes that sold in 2007. The inventory of available homes for sale has remained around 90 homes for the past several months.

The average days a Park West home took to sell in 2009 was 160, up from 128 in 2008, an increase of about one month.

The average price per square foot of homes that sold took a dip in 2009, decreasing to $144/sf as compared to $160/square foot in 2008.

The median sales price in Park West in 2009 was $365,000 and the average sales price was $387,000, making this neighborhood readily affordable to buyers in the under $400,000 price point.

Dunes West

The number of homes sold in Dunes West in 2009 was 80 as compared to 87 sold in 2008.  There was a jump in closed sales in November 2009 as homebuyers took advantage of the tax credit that was to expire at the end of November (but was subsequently extended into 2010) and the very affordable prices in the neighborhood.

 The sold price per square foot of Dunes West homes continued a downward trend dropping to $155/square foot as compared to $175/square foot in 2008.  This figure reflects the duress sales in the neighborhood (short sales and foreclosures) that pulled home values downward. 

In 2009 a Dunes West home was on market an average of 191 as compared to 111 days in 2008, a jump of about 2.5 months.

In early November 2009, there were 107 single family homes for sale in Dunes West.  By January 3, 2010, that number had decreased to 87 homes.

The number of homes sold in Charleston National in 2009 increased to 26 after a paltry 18 sales in 2008.  The average days a home was on the market in Charleston National in 2009 was 125, basically just one week longer than the 117 days on market for 2008. 

The average price per square foot of homes sold in Charleston National in 2009 was $135/sf down significantly from $149/sf in 2008 and $160/sf in 2007.  The drop reflects a number of short sales, foreclosure and REO sales in the neighborhood in 2009.

The median and average prices of homes sold in Charleston National have trended downward since their peak in 2006; however the actual rate of decline has slowed.

 The number of homes on the market in Charleston National at the beginning of 2010 was 22, a decrease from 30 homes on the market in early November.

The number of homes sold in Belle Hall in 2009 continued to trend downward at 50 compared to 58 homes sold in 2008 and 79 homes sold in 2007.

The average price per square foot of the homes that sold was at $179/sf in 2009 down slightly from $181/sf in 2008, and significantly down from its peak of $203/sf in 2006 when 72 homes sold in the neighborhood.

The greatest year over year change in Belle Hall was the number of days on market. In 2008, the average number of days a home was on the market was 126. That figure shot up to 192 days in 2009. On average, it took a home an additional 66 days or two months to sell in 2009.

The median price of sold homes in Belle Hall increased to $408,000 in 2009 and is at its highest level in the 2005 to 2009 period. After taking a dip in 2008, the average price of sold homes in Belle Hall made a good come back in 2009, rising to $452,000, on par with the average sold prices in 2005 and 2006. These increasing values may be due to the sale of several higher end homes in the neighborhood in 2009.

The number of homes for sale in Belle Hall decreased from 48 homes on the market in mid November 2009 to 36 homes for sale on January 3, 2010.

5th Annual Music and Oysters for Wildlife Event for The SEWEE Association, directly benefiting its educational programs.

If you missed yesterday’s event, you sure don’t want to miss it next year. Even with the rain coming down there were plenty of folks  on hand to enjoy the music, oysters, silent auction, food and fun! The music was performed by:  The Blue Dogs, Occasional Milkshake, Danielle Howle, Sarah and Ed Hunnicutt, Doug Jones and Cravin’ Melon, Triple Lindy and The Whisperjets.

The SEWEE Association supports coastal South Carolina’s national wildlife refuges and forests and provides educational programming to 10,000 students, teachers and parents each year in Charleston, Berkeley and Georgetown counties.

Click on the picture or title to watch a Video from the event!

For more information on the SEWEE Association visit:  www.seweeassociation.org.