Mount Pleasant August 2016 Market Update

Mount Pleasant August 2016 Market Update

Mount Pleasant

 Closed units for all of Mt. Pleasant are up 11.5% (up 22.1% from 2 years ago) 

Closed volume for all of Mt. Pleasant is up 17.4% YTD and 34.8% from 2 years ago. 

North Mount Pleasant closed units are up 15% 

North Mount Pleasant  median sales price is $466,415 and up 4.8% for detached single family.

Lower Mount Pleasant closed units up 7%.

Lower Mount Pleasant median sales price is $489,500 and up 2% for detached single family. 

Days on market for all of Mt. Pleasant is 68  (Was 110 days in 2012). 

Average list price to sales price ratio is 98% *Compared to 98% a year ago

All of MLS Charleston Tri-County Areas

 Closed units were up 8.1% from 1 year ago. 

  Closed volume is up 11.2% (Up 39% from 2 years ago) 

  New listings taken are up 4.2% 

  Median sales price is $242,500 (up 4.4% from this time last year and 9.2% from two years ago) 

  Days on market is 72. 

  Absorption rate is 3 months. 

  Average list price to sales price ratio is 97% *Compared to 96% a year ago

  Short Sales and Foreclosures were down 8.65% from last month. 

What Buyers Need To Know

  In recent news, Janet Yellen stated that the Federal Reserve will raise interest rates wheninflation increases. There are reports of an anticipated increase in rates in mid-September. 

  Interest rates combined with affordability makes this one of the best opportunities we’ve seenfor buyers entering the market or move-up buyers 

   As rates and prices increase,buying power goes down. 

  Expectations for buyers and how quickly things are moving. 

 What Sellers Need To Know: 

  This is the strongest seller’s market since 2007 and 2015 started as strong as 2006 (which wasthe best market in Charleston Real Estate history) 

Jerod Coulter Headshot
Phone: 843-513-3741
Dated: August 16th 2016
Views: 88
About Jerod: ...

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Location & Address

The Boulevard Company
806 Johnnie Dodds Blvd
Mount Pleasant, SC