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What a Difference a Year Makes! Real Estate Trends in Beaufort SC
What a Difference a Year Makes!
Real Estate Trends in Beaufort SC

Just some observations on the current market trends here in the Beaufort SC area:
 
Number of closed single family homes the first three quarters of:
2012- 395
2013- 495

Yay!  We're all happy that the number of sales is up, but there is more to the story as you will see below.  This is the "Headline" statistic, but why hasn't your house sold?
Percent of those sales that were foreclosures:
2012- 19%
2013- 17%
 
Percent of those sales that were short sales:
2012- 7.3%
2013- 6.5%
 
Short sales and foreclosures still make up 23% of the closed sales.  That's a pretty good chunk, and until that number goes down, we aren't going to see an increase in sales prices except for the two areas noted below.
 

So two things here-
1) As we've already seen, there are across the board decreases except for Burton and Lady's Island, probably due to the foreclosure and short sales transactions, we really need to get these flushed out of the system as soon as possible.
2) What's going on in Burton and Lady's Island?  That's ... more

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