Wednesday, October 2, 2013 / by Fra Jamir
Buying activity is still extremely strong in the Charleston area and based on the reports gathered, only in 2006 have we seen this much buying activity this late in the year.
According to figures, 200 single family homes are under contract this past week which really shows great activity for this time of year. The median list price is $217k which is equal to $111 per square feet. Twenty of those properties are under $100k, while 4 single family homes are over $1M. The median days on market is 53 and median year built is 1994.
37 (19%) of the 200 single family homes under contract this past week are Bank Owned Foreclosures or Short Sales. 7 of the 17 short sales were in the areas of North Charleston, Summerville, Ladson and Moncks Corner. Several areas saw a small uptick in the numbers of short sales and bank owned properties going under contract.
17 James Island single family homes went under contract this past week and are listed from $83k-$620k. The median price of these homes under contract is $240k which equals to $153 a square foot. 5 homes listed in the James Island area are under $200k, another 5 above $300k and 4 single family homes under $135 per sq ft. There were 4 (24%) Bank Owned Foreclosures or Short Sales and no new construction homes went under contract.
25 single family homes in West Ashley went under contract this past week, listed from $63k-$446k. The median price is at $199k, equaling to $113 per square feet. 3 properties are above $300k. 9 (36%) properties are under Bank Owned Foreclosures or Short Sales and 1 property under contract was new construction.
In Mount Pleasant there are 36 single family homes under contract this past week which are listed from $175k-$1.1M. 5 of those properties are in Dunes West and 5 are in Park West. The median price is $423k equaling $155 per square foot. Another 9 properties were over $500k. Only 5 properties were listed for under $140 per square feet. While 5 (14%) single family homes Bank Owned Foreclosures or Short Sales and 2 are under new construction.
34 Summerville/Ladson single family homes are under contract this past week and are listed from $68k-$419K. The median price of these homes is $175k equaling $89 a square foot. 2 of the properties are under $100k and 2 are above $300k. 7 (21%) single family homes are Bank Owned Foreclosures or Short Sales.
36 single family homes in Hanahan, Goose Creek and Moncks Corner are under contract this past week, listed from $33k-$479k. The median price is $145k which is $94 per square foot. 7 properties were over $200k, while 4 (11%) homes under contract are Bank Owned Foreclosures or Short Sales and 2 homes under contract new construction.
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Looking to sell your Charleston Area home? Visit www.jeffcookrealestate.com