Belle Hall Plantation Keeps Strong in 2010

Belle Hall Plantation, is one of the most popular and sought after planned subdivisions in Mount Pleasant, SC. The combination of a wide range of price points (from entry-level housing in the mid $200Ks to multimillion dollar custom homes), great community amenities, convenient location close to shopping and I-526 and great schools make Belle Hall a very desirable location.
Home sales in 2010 were strong, with 54 properties exchanging hands (same number as in 2009!).

The lowest price was $226,000 and the highest price was $765,000. Average price per square foot was $164, down from $174 in 2009.

For more information about Belle Hall Plantation go to...

As of today, there are only 5 months' inventory for homes under $350,000 in Belle Hall (there are 22 active listings and we are selling about 4 a month). This segment of the market is now in what we call a "neutral" market, where both sellers and buyers are at a level playing field. If inventory drops below 5 months we will see prices start to creep back up, as it will turn into a "Buyers'" market...

See Belle HAll listings and recent sales at www.MyBelleHall.com

Possible Record Price for Luxury Waterfront Home in Mount Pleasant ??

This beautiful luxury waterfront mansion at 100 Haddrell in Mount Pleasant's Old Village is up for sale for a cool $10 million!

If it sells for an amount anywhere near the list price, it wil be the record price for Mount Pleasant, currently held by the sale of 101 New St. (also in the Old Village) for $3.25M back in 2007.

Oprah, Bono, Steve Jobs, Shakira, where art thou?

Mount Pleasant Home Value Decline Slows Down

Feb 26, 2010 - Zillow.com reported today that home values for Mount Pleasant, SC, declined 0.3% compared to last month (see graph) for a total decline of 5.5% year-over-year. Although prices are still declining, this is a positive trend, since the pace of decline has slowed down considerably from about 1% per month last year.

Inventory Decreases in Belle Hall Plantation

Good news for Belle Hall homeowners: Inventory of single family, detached homes (SFD) has been steadily decreasing since reaching 69 active listings on the market in July 0f 2007 (and again in April of 2008).

As of January 30, 2010, we have 38 homes in "Active" status on the MLS, and 5 more appear under contract. Sales have been averaging between 4 and 5 a month in the last 12 months.

Although we are still in a "buyers' market" and sales and inventory are seasonal (lower sales AND inventory levels during the Winter months are the "norm"), the trend is favorable to returning to a "balanced" real estate market (defined as a market with 6 ...

Mount Pleasant Real Estate Market - Is it Time to Buy?

Do you have 2 minutes to spare...?

Please let us know what you think about the real estate market in Mt Pleasant by answering this QUICK, ONLINE SURVEY! 

We'll publish the results and compare YOUR PERCEPTIONS compared with MARKET REALITIES...

Thanks!

Team BuyHomesInCharleston.com 

With all the hype about short sales and REOs (lender-owned) homes, I thought that it was useful to put things in perspective (at least for Mt. Pleasant). Here are the numbers (as of 8/13/09) taken from the MLS:

• Total No. of Single Family, Detached listings (Active, Contingent and Pending) in Mt. Pleasant: 1,165
• Number of these listed as "Possible Short Sale": 120 (10.3%)
• Number of these listed as "Lender-Owned": 12 (1%)
• Number of these under Contract (Contingent and Pending): 167 (14.3%)

• Total No. of Condo & Townhome listings (Active, Contingent and Pending) in Mt. Pleasant: 525
• Number of these listed as "Possible Short Sale": 58 (11.04%)
• Number of these listed as "Lender-Own...

For the first time since 2002, the Personal Income line and Median Sales Price line will intersect again this year, showing the effect that the softening of the real estate prices in Mt. Pleasant has had on home affordability: The green line shows the average percentage of household income that a household spends on housing - we are back to the level of affordability we had at the beginning of the century! This is good news for first-home buyers and for families who need to upsize their home! Peak inventory in Mt Pleasant happened back in July 2007, and, given that demand has decreased noticeably, housing is forecasted to remain affordable for a while - we still have a large inventory to ...

It is another sunny day in Charleston! And, contrary to the doom and gloom that we read in the papers every day, our residential real estate market seems to be "moving along" towards a recovery.

INVENTORY - is still coming down slowly. We peaked at 2025 units in July 0f 2007, currently at 1623 units.We are already seeing some For-Sale-By-Owner signs around, so inventory will probably grow in the next two months as sellers try to catch the Spring/Summer buying wave, and decrease during the summer months when those sales close.

UNITS SOLD PER MONTH - we bottomed at 46 units in November last year, and we are back to 93 units for March 2009.

ABSORPTION - Although absorption went up in the ...