Beaufort South Carolina Real Estate Market Update

By
Real Estate Broker/Owner with RE/MAX 1st Advantage SC58585

Year of 2008 Date 01/01/08 through 11/13/08:

 
LIST PRICE:
SOLD PRICE:
DOM:
HIGH LOW AVERAGE MEDIAN TOTAL PRICE LISTING COUNT
$2,990,000 $43,900 $317,200 $237,000 $158,917,243 501
$2,650,000 $43,100 $299,742 $225,000 $150,171,010
985 0 210 153

Well it is that time of the year when you start reflecting on the year of 2008 and focusing in on your real estate career for 2009.  Looking at Beaufort South Carolina Single Family Home Sales for 2008 from 01/01/08 through today, we have a median home price of $225,000 with 153 median days on the market.  There was a historical home in Old Point that sold for $2,650,000 earlier in the year, so it makes our sold high price look great; however, our low sold price came in at $43,100 for a foreclosure on Saint Helena Island. 

To completely evaluate my real estate statistics, I looked a single family home sales for Beaufort, Mossy Oaks, Port Royal, Burton, Lady's Island, Saint Helena, Fripp Island, Dataw Island, and Harbor Island for a period of 01/01/08 - today 11/13/08.  I removed any rental homes from the mix because they would tilt the numbers.  I excluded homes that are categorized as North of the Broad, South of the Broad and Adjacent Counties as they can tilt the numbers as well.  I wanted to take a look at Beaufort-proper out to the Sea Islands to get the best idea of our market.

  Year of 2007 Date 01/01/07 through 11/13/07:

 
LIST PRICE:
SOLD PRICE:
DOM:
HIGH LOW AVERAGE MEDIAN TOTAL PRICE LISTING COUNT
$2,500,000 $60,000 $353,750 $254,950 $222,862,893 630
$2,500,000 $55,000 $337,134 $245,000 $212,394,610
2502 0 177 142  

Now looking at 2007 for the same period of 01/01/07 - 11/13/07, we had sold 129 additional homes by this time last year, which equates to a 20% decline in single family home sales year 2007 vs 2008.  The median home price as dropped by 8% year over year ($225K vs. $245K). Our days on the market have increased by 7% year over year (153 vs. 142).

Statistics taken and analyzed from Beaufort Co. MLS.  Prepared by Maria Skrip, Owner/Realtor, RE/MAX Sea Island Realty  in Beaufort South Carolina.  If you would like to know your homes value, simply email me and I will prepare a full report for you. RE/MAX, Outstanding Agents, Outstanding Results!

For career opportunities, visit www.joinremax.com

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Cherimie Crane 12/16/2008 07:26 AM
Topic:
Real Estate General Information
Location:
South Carolina Beaufort County Beaufort
Groups:
Realtors®
RE/MAX Active Rain Bloggers
Seniors Real Estate Specialists
REMAX SOUTH CAROLINA
Beaufort SC Real Estate Bloggers
Tags:
beaufort sc real estate
beaufort south carolina real estate
beaufort real estate market report
year over year real estate review beaufort

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Rainmaker
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Keith Strawn
www.ExploreBeaufortRealEstate.com (Ballenger Realty) - Beaufort, SC
www.ExploreBeaufortRealEstate.com

Great information, guys. 2009 is going to blow the doors of 08.

Nov 17, 2008 03:30 AM #1
Rainer
44,199
Kevin McGourty
Realty ONE Group - Phoenix, AZ

I keep running into you Beauford people on AR. Did you guys start a marketing campaign recently?

Nov 17, 2008 06:48 AM #2
Rainer
9,429
David Thompson
Exit Island Realty - Beaufort, SC

Hi Chris and Maria! Looks great. Thank you for looking at the whole year. Our numbers on Median price down8% and DOM up 7% came out the same. Anyway, thank you for sharing the info and Merry Christmas!!

Dec 15, 2008 08:22 AM #3
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Rainmaker
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Chris & Maria Skrip

Beaufort, Bluffton, Hilton Head, Sun City SC
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