So How's the Cat Island SC Real Estate Market Looking?
Posted by Todd Covington on Monday, May 25th, 2009 at 4:51pm.
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 island. The only reason a Dolphin Point home is under contract is because it was a bank owned property listed at a rock bottom price.
There are deals to be had but you need to be patient. I see a lot of folks looking at foreclosures and short sale which are okay. For my money, there is no better way to find a bargain than to get on the automated MLS e-mail campaign. This means every time a home within your customized search parameters is listed, you get an e-mail. This way nobody can beat you to the punch. It's how I found my first home and I swear by it. Alright, I'm getting off the subject...back to the report.
As for active listings, there are 23 for sale. A few waterfront homes and higher priced homes bring the average price to $830,991. Don't let that fool you as there are plenty of residences for sale in the $300,000-$400,000 range.
Current Active Cat Island Listings
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Current Homes on Cat Island Under Contract
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