What's Selling on Seabrook Island, SC?
Well believe it or not, we are almost thru the 1st half of 2012.... Where does the time go? We say this every year and I don't think we can every truly answer it. When it comes to the world of Real Estate, many of us are probably happy that time has passed relatively quickly because as it does, we have seen an improvement in the market which translates to an increase in sales, and a consumer confidence which in turn, fuels the overall economy. I am by no means a market analyst, but I can tell you that my personal real estate business has increased year over year and many of my peers are experiencing the same thing.
But, let the numbers do the talking....
Here is a snapshot of 1st Half market activity on Seabrook Island that helps to support this point:
1st Half 2012 Sales Results
43 transactions (Sales)
Average Sales Price: $440k
Average Price Per Sq Foot: $222.00
Price Range Sold: $84k - $1.8m
Days on the Market: 207 (about 7 months)
1st Half 2011 Sales Results
30 transactions (Sales)
Average Sales Price: $420k
Average Price Per Sq Foot: $247.00
Price Range Sold: $24k - $1.4m
Days on the Market: 181 (about 6 months)
This data clearly proves that there has been almost 45% increase in transactions as compared to last year's first 6 months, with a 5% increase in average sales price. This speaks volumes especially as short sales and foreclosures move thru the real estate market lifecycle. Bottom line, buyers are buying, sellers are selling and prices are re-adjusting themselves. And probably one of the most important realizations today is that banks are lending. Get out there and start shopping people. Here's the link to real-time MLS: