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Beaufort South Carolina Real Estate Market Update, Land & Homesites 2008

By
Real Estate Broker/Owner with RE/MAX 1st Advantage SC58585
 
LIST PRICE:
SOLD PRICE:
DOM:
HIGH LOW AVERAGE MEDIAN TOTAL PRICE LISTING COUNT
$10,560,000 $12,000 $290,773 $150,000 $388,473,835 1336
$0 $0 $0 $0 $0
3784 2 334 279  

ACTIVE, LAND, HOMESITES, LOTS: Currently, there are 1336 pieces of land available/active listings on Beaufort MLS.  I removed 2 prior to pulling these numbers because one was a mobile homesite monthly rental and the other was a bird-waterfowl sanctuary/not buildable.  The lowest priced homesite is priced at $12,000 and the highest is $10,560,000.  The one for $12,000 is a 1 acre lot in Ridgeland/Point South (near Beaufort).  The highest priced at $10,560,000 is 26.6 acres on Robert Smalls Parkway in Port Royal South Carolina.

 
LIST PRICE:
SOLD PRICE:
DOM:
HIGH LOW AVERAGE MEDIAN TOTAL PRICE LISTING COUNT
$60,000,000 $25,000 $581,068 $129,000 $91,227,738 157
$60,000,000 $10,000 $559,769 $100,000 $87,883,847
1617 0 269 189

SOLD, LAND, HOMESITES, LOTS: For the year of 2008, 157 pieces of land sold in the Beaufort MLS.  Now, I have to say that LAND is in really bad shape here in Beaufort.  At the rate of 157 pieces per year, this would equate to a 8 1/2 year inventory on the market currently.  If you are a seller of land in Beaufort South Carolina, my advice would be to PRICE AGGRESSIVELY or do not count on a sale at all!  This advice is coming from someone who owns 3 pieces of land in the Beaufort area; 2 commercial lots in Port Royal and 1 residentail lot in Pleasant Point Plantation. Land in and around Beaufort South Carolina is not moving like it used to - wait it out or price aggressively.

Market Statistics are from Beaufort MLS pulled 1/2/09 11:08 a.m. EST.  Market update by Maria Skrip, Owner, Realtor, RE/MAX Sea Island Realty in Beaufort South Carolina.