MLS Market Reports

Today I'll break down some of the active listing numbers on one of the more popular communities in Beaufort SC, Cat Island.  So far in 2009 only one home has sold in the neighborhood, and it was priced at $359,000.  Looking at the current houses under contract, you will see a trend that seems to be universal in today's market:  lower end homes are what's selling.  High end properties are nowhere to be found in most market reports I do.  My prediction is you won't see Luxury properties selling again until Spring 2010.

Out of the 3 homes under contract, 2 are in Olde Tabby Park and one is in the Dolphin Point area.  For the rest of 2009 you can expect homes in Olde tabby Park to see to see the most activity as prices are generally on the lower end on the

Today we are going to take a look at the residential real estate market on Fripp Island.  The below chart should give a fairly accurate picture of housing movement on the island.  In the charts below you can get an idea on housing movement on the island.  Fripp Island has had 110 listings hit the market in 2009, 53 have expired, 7 have sold and currently there are 5 homes under contract.  With 5 pendings, is shows sales are slightly picking up during this typically active real estate season.   

My First FusionCharts GoogleGadget

The below chart details the active residential listings on Fripp.  With the average 2009 home price at $805,013, you can expect sales to stay relatively slow on the high end properties.  I say

Now that the first three months of 2009 are in the books, I wanted to take a look back at 2008 and see just how that current 2009 market compares.  Lately I have heard colleagues and those in the news talk about how the housing market is getting back on track.  Some of the numbers I dug up seem to paint a good and bad picture on this year's current market.  Good for buyers and not so hot for sellers.

Let's start with the good news for buyers.  The 2009 average home price so far is down 12% from 2008 and a total of 20% from 2007.  Finally, the Beaufort SC real estate market is falling into a legitimate price range.  For the first time in three years, my wife and I have stopped window shopping on the internet, and are started going in person to see some of

Like many of you, my dream is to buy a pretty piece of land on deep water property and build my dream home.  Unlike many places along the South Carolina coast, Beaufort still offers affordable waterfront property for the not so rich.  Of course we have multi-million dollar properties here but we also have a bunch of lots that you need not be "The Donald" to purchase.  Today I did a little research on what's on the active in market, has sold, and how many are currently under contact.

Wow is an understatement.  I was shocked to see the results of my search.  Not a single one has sold this year and only 2 are under contract.  I have noticed prices dropping and the fact that only 2 in an area this large are under contact, tells me that prices aren't low

Today I just wanted to give everyone a quick market snapshot.  First, we have a chart on the total Beaufort SC MLS Stats for 2009.  Currently, there have been 114 total residential sales in the area.  One important thing I notice is the "Days on Market".  For a long time that number was over 200 days.  This year, every months reports days on the market to be under that threshold which is good news.  While stats are great to look at, being in the market place also gives me a feels as to what's happening out there.  I can tell you without reservation, that buyers are on the move.  In no way do I expect 2009 to be a banner year but I do expect things to be much better that 2008.  Many parts of the country are reporting increased sales.   

Yes, I still

In checking with the Beaufort Country Association of Realtors MLS system, I was surprised to see 20 single family residential listings had closed last week.  Sure, 20 closings in a week doesn't seem like a lot but if you consider that last week accounted for almost 20% of this years sales, it's great news. 

So far this year only 103 homes have sold in 2 months plus.  As we said in previous blogs, there are definitely more buyers looking.  Now we can say there are more buyers buying too.  Because it takes an average of 30-45 days to close on a house, it tells us that buyers started pulling the trigger at a more rapid pace sometime in mid-January.  From increase website traffic to fellow realtors production, one can see buyers are still very active, which

This week, I took at a look at the first 2 months of residential sales in 2009 verses the first two months of 2008.  There is no sense is trying to spin everything in a positive way as everyone knows that the economy is hurting, and that certainly includes home sales.  While 2009 home sales are down from 2005-2007 sales, the first two months of 2009 certainly compare similarly to 2008.  The greatest annual difference is that 100 homes sold in the first 2 months of last year to 82 this Jan & Feb..  Although an 18% drop is never good, the drop from Jan/Feb 2007 to 2008 was a horrid 46%.  What that says it that the market has finally stopped the freefall and is more flat than anything else.  I consider that good news as we are now in a waiting game to see

As you can see below are home sales statistics are like many areas in the US.  We have slowed down a bunch and it was almost to a standstill at the end of 2008.  Because I am new this has not affected me like it has long tern agents.  Even so I'm ready to make some money.

While the last couple years have been very tough I see a glimmer of hope.  Without question there are more buyers looking for homes in our area.  My Beaufort SC real estate website has jumped in number of visitors and every local agent I speak with tells me they are busier.  So, have we hit bottom?  My guess is no.  The month of May shouId give us a good indicatiion but the remainder of the year most likely will be flat.  Most indicators point to a recovery in early Spring of 2010. 

Although 2008 was statistically one of the worst years on record for the real estate industry, ERA Evergreen saw gains in market share and sales on Dataw Island from 2007.  ERA is now the #1 selling real estate company that serves Dataw Island.  These great sales results have benefited Dataw Island in more ways than one.  Not only is the island now open to the entire Beaufort Multiple Listing Service (enabling other agents to sell on Dataw), but for every home or lot that ERA sells, they pay back a 25% referral fee to Dataw Island Club.  Those funds go directly into the Dataw Island marketing fund, which has seen great success in exposing Dataw Island to the world.  "Not only dose the marketing program bring in home buyers and sellers, "says ERA

For a short blog tonight, I thought I might keep everyone up to date on what has happened so far on the Lady's Island SC real estate scene in 2009.  When I put this chart together I was a little surprised at how few homes had actually sold so far this year.  Because closings take anywhere from 20-90 days, the low number are a direct reflection on how slow the end of 2008 was.  While the market is not booming, there is no doubt the amount of buyers looking to buy a home is picking up dramatically.  Most of my peers are busier and I personally have noticed a dramatic increase in website traffic.  Currently, there are 18 homes under contract and you can bet your bottom dollar that will double by March.  Low rates, homes prices SLOWLY coming down, and every