Lake Charleston Sales, the past 30 days...and some analysis

There was a good number of closed sales the past 30 days...14 in all. Here's a map of the reported sales:

Here are the details...low price to high

1. 7517 Edisto: Sold @ $130k...short sale
2. 7529 Edisto: Sold @ $135k...bank owned
3. 7481 Edisto: Sold @ $147...traditional sale
4. 7409 Shell Ridge: Sold @ $158k...bank owned
5. 6864 Torch Key: Sold @ $161k...short sale
6. 7980 Lakewood Cove: Sold @ $169k...short sale
7. 7630 Bristol Bay: Sold @ $184k...traditional sale
8. 7878 Springfield: Sold @ $186k...bank owned
9. 6801 Torch Key: Sold @ $198k...traditional sale
10. 7708 Oakboro: Sold @ $210k...short sale
11. 7071 Davit: Sold @ $215k...traditional sale
12. 7227 Davit: Sold @ $242k...traditional sale
13. 7366 Shell Ridge: Sold @ $252k...traditional sale
14. 7759 Cedarhurst: Sold @ $325k...traditional sale

14 sales in 30 days is a great rate of sales...but my outlook on continuing this pace is not that optimistic. This number (14 in 30 days) was clearly driven by the Homebuyer tax credits. If I annulize this rate of sales, that would translate to 168 sales/year. But, if we look back to the the trailing 12 months, there were a total of 75 sales, less than HALF of that rate.

IMPORTANT:  If you are having real estate agents in to give you their Market Analysis show, be certain that they fully understand, discuss, analyze and account for the tax credit impact.

As always, thanks for taking the time to read our blog.


Steve and Jackie Jackson