Overall The Charleston South Carolina Real Estate market is fairing quite well.

However there is quite a lot of diversity in specific area. This post will look at the highs and lows

across the entire Charleston SC market, in Mt. Pleasant, on the Isle of Palms and Wild Dunes,

Sullivan's Island and Downtown Charleston below Calhoun Street.  We will be looking at median

prices at the height of the market compared to what they are today,

The entire Charleston, SC Real Estate Market

The peak of the market was 1/2008 and the overall median price of homes was $207,900

As of today, May/2012, the median price of sold homes is $183,000,

(similiar to what prices were in 2005). There were 9,4...

What is "Shadow Inventory"? and how will it affect the Charleston Real Estate market. First of all after interviewing a Regional

REO ( Real Estate Owned) Executive with Bank of America, he states that the banks do not want to keep bad assets

or hold properties for release thus there is actually no such thing as shadow inventory. Yes there is a hold up and back

log of properties that will eventually be listed for sale for several reasons. The foreclosure process can take up to 2 years

from the time a person is first late on their mortgage for a number of reasons. 1. the legal issues that were prevalent at the end

of last year held back many of the foreclosure sales. 2. Due to the mult...

Comparing Mt Pleasant SC Real Estate Sales in 2008, 2009, 2010 and 2011

(from January 1  through March of each year)

According to Charleston MLS statistics 

2008              366 sales            2,888 listings       $413,419 average sales price

2009              238                   2,856                  $353,740

2010              315                   2,651                  $358,049

2011              259                   2,270                  $334,803

SUMMARY: Supply, number of listings, is steadily decreasing while number of sales,

demand, and average sales price is decreasing only slightly which indicates that prices should

begin to stabilize and then slowly improve if t...

CHARLESTON SC REAL ESTATE SALES FOR FEBRUARY, 2011 IN :

OVERALL CHARLESTON SC TRIDENT AREA

587 CHARLESTON SC REAL ESTATE SALES IN FEBRUARY

17,413 ACTIVE CHARLESTON SC  REAL ESTATE LISTINGS

29.66 MONTHS OF INVENTORY OVERALL IN CHARLESTON SC  

MT PLEASANT SC REAL ESTATE

83 SALES IN MT PLEASANT SC IN FEBRUARY

2,161 LISTINGS IN MT. PLEASANT SC

26 MONTHS OF INVENTORY IN MT. PLEASANT SC

ISLE OF PALMS SC REAL ESTATE

9 SALES IN JANUARY AND FEBRUARY, 2011 ON THE ISLE OF PALMS SC

279 LISTINGS ON THE ISLE OF PALMS, SC

48 MONTHS SUPPLY OF INVENTORY ON THE ISLE OF PALMS SC

WILD DUNES SC REAL ESTATE

12 TOTAL SALES FOR JANUARY AND FEBRUARY IN WILD DUNES SC

261 LISTINGS IN WILD DUNES SC

4...

Daniel Pink is one of the keynote speakers for The Keller Williams Family Reunion in Anaheim next week. He wrote the book "Drive" which I immediately bought and read. What Drive explains is that money and the carrot and stick approach are not our primary motivators. Being a psychologist before I was a Realtor, I find his ideas fascinating.  After I get back next week I will blog about his talk and how this relates to Real Estate in Charleston, S.C.

Here is what I love about being with Keller Williams, the company is so cutting edge, they pick up on what the majority of agents are struggling with and the trends in the overall real estate market and they teach us how to overcome obstacles ...

4 year recap of sales in Mt Pleasant, SC

2007   1741 sales   average sales price $431,859   13 month supply of inventory

2008   1347 sales   average sales price $428,067   15.99 month supply of inventory

2009   1173 sales   average sales price $372,979   16.36 month supply of inventory

2010   1327 sales   average sales price $371,000   12.55 month supply of inventory

my predictions for 2011 in Mt Pleasant are:

Both sales and average sales price will show a slight increase in 2011

WHY? inventory is decreasing and sales prices are remaining about the same. The first time home buyers influx probably scewed the market a little , however the interest rate, the new industry( Boeing, ie )...

Betty Gales of the Gales Group just completed her training and is now

certified as a Foreclosure REOS Specialist. The course was taught by Cathy Mcdaniel from

Atlanta, Georgia who provided us with invaluable information from her years of experience

in the field.

Here are some Key Points for the potential buyer ! REO's are a different type of sale.

. REO asset management companies set the "rules" and vary among each other.

. REO property value is set by reviewing BPOs and an appraisal

. REO sellers must receive approval from their investors, mortgage servicers and their mortgage insurance company on low offers

. REO properties are sold "as is" with no repairs, warranties or guarant...