I am going on a listing appointment this evening, so while preparing for the appointment, I thought I would share the most recent Market Update for Telfair and Telfair Manor on Lady's Island near Beaufort South Carolina.
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Currently, there are 28 homes available in Telfair, Telfair Manor, and Rosewalk. The Median home price is $216,260 with 83 Days on the Market.
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From JULY 2008-PRESENT, ONLY 7 homes have sold in Telfair, Telfair Manor, and Rosewalk. The Median Sold price is $205,000 with 88 Days on the Market.
Looking on Ardmore/Ogden/Rosewalk (3/2's with 1 Bay Attached), the price per square foot for SOLDs is running $141.23-$148.06 per square foot. Currently, there are 4 Active Listings on Ardmore/Rosewalk. They are priced at $146.01-$173.14 per square foot. Based on the SOLDS, the listing price per square foot is over the highest SOLD comp of $148.06 per square foot for all 4 Active Listings on Ardmore with the exception of 1 home that is priced at $146.01 (the high of the sold comps). This is not an easy Real Estate Market to sell in and with only 7 homes selling since July 2008, these homes should be priced with the market for Ardmore.
I personally sold a home in November of 2008 and purchased one in December of 2008, so I understand the current Real Estate Market on Lady's Island. Homes that are listed at the Market are sometimes competing with Foreclosures and Short Sales. Unfortunately, that is the market that we are working in right now - and that sellers are selling in right now.
Good news, this real estate market will improve. It is just going to take time. My advice to sellers is to PRICE YOUR HOME FOR THE CURRENT REAL ESTATE MARKET. Otherwise, plan on your home being on the market for a very long...and possibly not selling at all.....
This blog is the opinion of Maria Skrip, Realtor, Owner of RE/MAX Sea Island Realty Beaufort South Carolina. Home of the finest agents in Beaufort South Carolina Real Estate! Serving Beaufort County from Hilton Head to Fripp Island!
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