Posts Tagged ‘time’
Monday, April 15th, 2013
The Charleston Trident Association of Realtors reported 1,045 homes were sold at a median price of $202,210 in the Charleston region last month. The area hasn’t experienced that level of sales in March since 2007, the organization said.
Median home prices in the Charleston area rose more than 3% in March, according to data released Wednesday by the Charleston Trident Association of Realtors comparing last month to 2012.
CTAR reported 1,045 homes were sold at a median price of $202,210 in the Charleston region last month. The area hasn’t experienced that level of sales in March since 2007, the organization said.
CTAR President Owen Tyler said in a news release that it’s more common to see sales surpass 1,000 in late spring and early summer. Last year, May, June and August were high-volume months, he said.
“It’s unusual to see this many closed transactions this early in the season, but we know that market activity is being bolstered by increased interest from investors who recognize the benefits of investing in property in the Charleston area,” Tyler said. “While we do expect sales levels to remain higher than they were in previous years, we do not expect sales to sustain at this level through the spring.”
The Charleston area has been averaging more than 800 home sales per month this year, with 2,424 homes sold year-to-date with a median price of $182,500 across the region. CTAR said the sales volume shows a 16% increase from last year with a 3% increase in median price.
At this time in 2012, 2,088 homes had sold at a median price of $176,816. The region has an active inventory of 5,745 homes listed in the Charleston Trident Multiple Listing Service, CTAR said.
Tyler said a 3% year-over-year increase in median price was in line with what the association expected for this time of year.
“Our market is healthier than it has been in a long time, however with inventory low and demand high, artificial price inflation can start to occur, which we do not want to see,” Tyler said. “Market conditions need to be understood from a hyper-local perspective.”
County-specific numbers for residential real estate in March
Berkeley County
CTAR reported that 191 homes sold at a median price of $166,400 in Berkeley County last month. The area bordered by Jedburg Road, U.S. Highway 17A and College Park was the most active, with 55 sales at a median price of $166,400.
Charleston County
More than half of the homes sold in March across the region were sold in Charleston County, where 635 transactions resulted in a median price of $245,037. Of those, 210 sales were in Mount Pleasant and sold at a median price of $342,500. West Ashley, outside of Interstate 526, was the next most active area, with 77 sales at a median price of $189,295, CTAR said.
Dorchester County
CTAR reported that 184 homes sold at a median price of $162,500 in Dorchester County in March. The Summerville/Ladson area was the most active area, with 72 sales at a median price of $181,950.
Charleston median home prices rise 3% in March from last year
Tags: agency, agent, beach, buy, buyer, buyers, carolina, charleston, credit, economy, estate, finance, first, folly, foreclosure, home, janine, lender, loan, mabe, market, median, mortgage, negotiate, new, price, real, real estate, relocate, relocating, relocation, right, short, time, wedding, west ashley
Posted in Apartments, Appraisal, Builders, Buy a House, Commercial Real Estate, Community, Condos, Estate, First Time Home Buyers, Homes, Homes for Sale, Housing Market, Janine Mabe, MLS, Mortgages, Neighborhood, Property, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Rent, Townhomes, Uncategorized, Vacations | No Comments »
Tuesday, January 15th, 2013
Home sales have risen for three consecutive years in the tri-county region. Prices increased over 2011, and the Charleston Trident Association of Realtors hopes the price stabilization will continue.
More than 10,000 homes sold during 2012, the first year since 2007 when sales figures have crossed that threshold. In total, 10,574 homes sold at a median price of $190,065. These figures represent an 11.6% growth in sales volume and a 4.6% increase in prices over 2011.
Inventory for the region declined 21% from 2011 making buyers compete for available homes.
“Our region’s market activity exceeded our expectations in 2012,” said Owen Tyler, 2013 CTAR president. “We were cautiously optimistic that 2012 would be the year that our market regained its stability and made significant, but sustainable, gains.”
Tyler said the growth observed in 2012 is healthy and can be continued as the local, national and global economies recover.
In the fiscal cliff deal, the real estate industry dodged cuts to the mortgage interest deduction and the Mortgage Forgiveness Debt Relief Act and Debt Cancellation. Tyler and Dave Sansom, president of Charleston Trident Multiple Listing Service, said they think those extensions will help the coming year be another positive one.
“We were pleased to see that Washington understands that real estate is an integral part of our nation’s economic success and preserved key incentives for current and future homeowners,” Tyler said.
Reposted from the Charleston Business Journal by Lauren Ratcliffe
December County by County Results
In Dorchester County, 159 homes sold at a median price of $178,680 in December. Year-to-date sales increased 8% and prices increased 4.7%
In Berkeley County, 195 homes sold at a median price of $168,000 in December. Year-to-date sales and pricing increased by 3%
In Charleston County, 515 homes sold at a median price of $235,254 in December. Year-to-date sales volume increased 20% and pricing increased 3.6%.
Source: Charleston Trident Association of Realtors
Tags: agency, agent, beach, buy, buyer, buyers, carolina, charleston, credit, economy, estate, finance, first, folly, foreclosure, home, janine, lender, loan, mabe, market, median, mortgage, negotiate, new, real, real e, real estate, relocate, relocating, relocation, right, sale, short, south, time, trends, vacation, wedding, west ashley
Posted in Buy a House, First Time Home Buyers, Homes, Homes for Sale, Housing Market, Property, Real Estate, Real Estate Agent, Relocation, Uncategorized | No Comments »
Monday, December 17th, 2012
Source: Post and Courier
Home sales usually taper off in the final months of the year as buyers shift focus to other obligations, like the holidays. Not this year.
The Charleston Trident Association of Realtors said Monday that 845 homes changed hands at a median price of $192,500 in November, nearly 200 more than the same month a year ago. The median price was up less than 1 percent. The last such busy November was in 2009 when a federal tax credit gave sales an extra boost.
“This fall has been noticeably busier than years past,” said Owen Tyler, the association’s president, in a written statement. “The market is seeing a great deal of activity from investors, as well as from traditional buyers who were waiting for security to return to the market,”
Sell Your House Today
The group’s latest preliminary sales report marks the 13th consecutive month of climbing home sales in the region, which includes Charleston, Berkeley and Dorchester counties. Lower home prices and mortgage rates compared to years ago continue to push buyers to the closing table. The group’s data shows that 9,662 homes have changed hands at a median price of $190,081 from January through November. Charleston County continues to lead the region’s activity with sales growth topping 20 percent compared to a year ago, according to the new numbers.
Tyler said the county will likely approach 6,000 transactions this year. “It clearly shows how much consumer confidence in our market has improved in the last 36 months,” he said. The uptick in sales activity has chiseled inventory down to a six-month supply, which is what experts consider an ideal balance of demand between sellers and buyers. Some area agents have said the dwindling inventory has pushed control back to sellers who may be less willing to come off their asking prices.
The region’s lowered home supply has also jump-started several once-stalled new homes developments throughout the region, including the 4,300-acre Carnes Crossroads in Goose Creek and Carolina Park near the north end of Mount Pleasant.
Also Monday, the association revised its sales data slightly higher for October to show 910 homes sold at a median price of $185,112.
County numbers – Source: Charleston Trident Association of Realtors Multiple Listing Service.
CHARLESTON COUNTY
458 homes sold at a median price of $232,000
BERKELEY COUNTY
193 homes sold at a median price of $179,190
DORCHESTER COUNTY
170 homes sold at a median price of $160,000
Tags: agency, agent, beach, buyer, carolina, charleston, credit, economy, finance, first, foreclosure, mabe, negotiate, new, price, real, real estate, time, trends, wedding
Posted in Apartments, Appraisal, Builders, Buy a House, Community, Condos, Estate, First Time Home Buyers, Foreclosures, Home Builders, Home Improvement, Homes, Homes for Sale, Housing Market, Luxury Homes, MLS, Mortgages, Neighborhood, Property, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Rent, Townhomes, Uncategorized, Vacations | No Comments »
Thursday, July 12th, 2012
It’s taken half a decade, but the all signs are pointing towards a real estate market that is finally starting to show signs of life. If you were thinking about making a move on a piece of property, right now may be the best time to buy. In most places around the country you can still take advantage of low prices, and mortgage rates are at once-in-a-lifetime record lows.
Although median prices are still near 2003 levels, the signs of a resurgence are everywhere you look. Not to mention that every news source is reporting up ticks in almost all markets. The number of people signing contracts to buy houses rose by around 4% in March, according to the National Association of Realtors, and is the highest it’s been in nearly two years.
Many would-be homebuyers are surprised to find that one fixture of the bubble era is back: the bidding war. According to a recent survey of 28 housing markets conducted by the Wall Street Journal, there are fewer houses for sale in every single one of those places than there were last quarter. This relatively tight inventory in markets as varied as Sacramento, Phoenix and Washington, D.C., dictate that the law of supply and demand is going to kick in.
If you have been waiting for the market to show signs of recovery, your wait is over. For those who want to wait just a little bit longer, you may find yourself in a bidding war over the perfect house. Trust me – that is one adventure best avoided.
Tags: agency, agent, buyer, buyers, charleston, credit, estate, finance, folly, foreclosure, lender, mabe, median, mortgage, negotiate, real, relocate, relocating, relocation, sale, sales, short, south, time, vacation, west ashley
Posted in Buy a House, First Time Home Buyers, Homes, Homes for Sale, Housing Market, Mortgages, Neighborhood, Property, Property Investment, Real Estate, Real Estate Agent, Relocation, Uncategorized | No Comments »
Tuesday, June 12th, 2012
By Lauren Ratcliffe
[email protected]
Published June 12, 2012
With nearly 1,000 closings in May, the Charleston-area housing market is showing signs of recovery, according to data from theCharleston Trident Association of Realtors.
Sales volumes last reached this level in June 2010 when the homebuyer tax credit was in place to encourage market activity. The last time volumes were this high in a non-incentivized market was August 2007.
“Sales are closing at a faster pace than we anticipated this early in the season and showings continue to rise,” said Herb Koger, 2012 CTAR president. “There is a lot of pent-up demand in the market and those choosing to buy now are benefiting from incredibly low rates and affordable pricing.”
Showings in the Lowcountry also increased during May — 2,000 more thanlast month. There were 26,040 showings recorded by the Multiple Listing Service.
Beyond increased showings and closings, inventory levels have CTAR Realtors excited about the returning health of the market.
A widely accepted benchmark of a healthy market is inventory within the six-month range. Charleston currently has 6.4 months of inventory with 6,314 homes listed as actively for sale.
“The measure of a local real estate recovery is not a return to 2005 sales and pricing levels, but a balanced supply and demand as well as sustainable growth,” said Chip Reeves, 2012 Charleston Trident MLS president. “We’re finally seeing that absorption rate rise and a recovery take shape in our market.”
The overall economy of the region is strongly contributing to the rebound of the housing market as new jobs are created.
“Our local economy is growing and thriving, thanks to solid activity at the State Ports Authority, Boeing, growth in the technology sector and other major manufacturers entering the market,” Koger said.
One year ago, May’s preliminary figures showed 804 closings at a median price of $179,945 with year-to-date figures at 3,594 closings and a price of $177,000.
In 2012, closings rose 9% and median price is up 3%. Year-to-date, the area market has seen 3,910 closings at a median price of $182,000.
County-by-county figures
Berkeley County saw 205 homes sell at a median price of $175,375 in May. The most active area of the county was Goose Creek/Moncks Corner bordering the Cooper River with 50 sales at a median price of $174,495. The most affordable area of the county is Cross/St. Stephen, where the median sale price was $62,500.
Charleston County accounted for more than half of the area’s total sales, with 563 homes sold at a median price of $239,500. In Mount Pleasant, the county’s largest geographic area, 185 homes sold at a median price of $341,625.
Outside of Mount Pleasant, the county’s most active area was West Ashley with 74 sales at a median price of $185,652. The most affordable area was North Charleston, where the median sale price was $83,000 in May.
Dorchester County saw 188 homes sold at a median price of $167,450. The most active area was Summerville/Ridgeville, with 92 sales at a median price of $180,470. The Summerville/Ladson area was the most affordable, where the median sale price was $135,000.
Tags: agency, agent, beach, buy, buyers, carolina, charleston, credit, estate, first, folly, foreclosure, home, loan, mabe, median, negotiate, new, real, real e, sale, short, south, time, west ashley
Posted in Apartments, Appraisal, Builders, Buy a House, Commercial Real Estate, Condos, Estate, First Time Home Buyers, Foreclosures, Home Improvement, Homes, Homes for Sale, Housing Market, MLS, Mortgages, Neighborhood, Property, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Rent, Townhomes, Uncategorized, Vacations | No Comments »
Wednesday, October 5th, 2011
As a prospective home buyer you may fall into the trap of focusing too much on a home’s sale price. What you may not realize are the other considerations that can also have a major impact on you financially, which can make life more difficult after a purchase.
To avoid this problem, consider the effect other factors may have on your buying power. According to MSNBC, paying off outstanding loans and reducing debt before beginning the process of searching for a new home can significantly impact whether you , as a home buyer, can qualify for a loan and what interest rate you will get. For couples, be sure to check both credit scores, and if needed, take steps to increase your credit rating six to twelve months before you start the home search process.
Cost of a home may be more than money
Mortgages themselves commonly involve additional costs many home buyers forget to account for, such as mortgage insurance. As a general rule of thumb, in order to avoid this fee you will need a minimum 20% down payment on the home. On a modest $100k home, that would be $20k and it does not take into account the many other fees associated with a mortgage loan.
Property size, location and condition are also important. These are among the factors which determine property taxes and maintenance expenses for the upkeep of the home. While a home in good condition may have few repair costs at first, any home is a sufficiently large and complex structure that will need general upkeep and with time something will need fixing sooner vs. later.
Focusing too much on price can also cause you to jump on a good deal just because it’s there, without determining whether the home in question suits your current needs, as well as your anticipated needs in the next three to five years. A growing family, for example, may need more space in the near future.
The opposite can also occur if you purchase a home larger than they can really use.
This larger home can feel like a great deal… that is until you factor in the cost of heating/cooling, yard maintenance, and other costs associated with the extended upkeep of your expanded square footage.
Investigation and closing
When looking at home prices, one expert told Bankrate.com that home buyers might want to consider having their agent show them homes within their specified price range but avoid knowing each individual property’s list price. Not knowing the price before seeing a home in person can help you avoid being influenced either for or against a property by the number. This will allow you to more clearly determine the positive or negative attributes of the property based on your specific needs. Once you have narrowed your choices then it would be a better time to look at the numbers.
When it comes time to negotiate and close a deal, don’t fail to take into account the closing costs and the cost of moving into a new home. According to MSNBC, this is one of the top things home buyers fail to budget for in their pre-purchase planning. Moving costs might include purchasing boxes and other supplies, renting a van, hiring movers, buying new furniture, replacing old items and limited repairs to rooms like the kitchen or bathroom. Closing costs cover administrative fees, title searches and in some cases initial homeowners’ association fees or inspection costs.
When you choose the right real estate agent to assist you with your search process, they should also work with you to provide an estimated cost of closing worksheet to help you anticipate the cash needed at closing. A good agent can be invaluable tool that is there to help each step of the way.
Tags: agent, buy, buyer, buyers, carolina, charleston, credit, finance, foreclosure, home, janine, lender, loan, mabe, market, median, mortgage, negotiate, new, price, real, right, sale, sales, short, time, vacation, west ashley
Posted in Buy a House, First Time Home Buyers, Homes, Homes for Sale, Housing Market, Real Estate, Real Estate Agent, Relocation, Townhomes, Uncategorized | No Comments »
Tuesday, July 5th, 2011
For many people, 
finding a new home is more than a matter of personal taste and individual finance – it’s a family affair. I’ve bought a house as a young single professional, with a child, and then again with my three children which was certainly a different experience. For those buying a new home to accommodate a growing family, it is an exciting step in one’s life, but it can also be a balancing act.
A recent survey released by Coldwell Banker Real Estate found that 65 percent of homeowners who are also parents purchased their first home before becoming pregnant or within one year of their child’s birth. Wow, that’s a lot going on in a person’s life at one time, but it makes sense. It isn’t until you have a child that you realize just how much space this tiny, little person takes up so that apartment or condo you bought won’t cut it with a munchkin crawling around.
For those consumers who are in a position like this, Coldwell Banker has put together five tips for buying a home with a family in mind:
- Proximity to family. Nearly half of the homeowner respondents in a recent survey from Coldwell Banker reported that they live less than 10 minutes from extended family members, with 72 percent choosing to live within 30 minutes. Buying a home that is close to family members can provide support, help and guidance that can be a great benefit both emotionally and financially. With extended family nearby, families have the opportunity to spend more time together and even save money on occasion. The cost of babysitters and long distance travel to visit relatives can really add up!
- Existing floor plan. Each family has its own unique dynamic and should take its distinctive needs into consideration when exploring different floor plans. While having a master bedroom upstairs and the other rooms downstairs may work for some families, others may prefer to have all of the bedrooms on the same level.
- Surrounding neighborhood. The neighborhood looks different from the eyes of a parent. It’s wise to get an idea of what the neighborhood offers for children, such as local recreational centers, parks or playgrounds as well as the school system, before deciding on an area to live.
- Future lifestyle needs. They say children grow up in the blink of an eye, and while you don’t believe at first, it’s absolutely true. Make sure the home you purchase leaves growing room and will still fit your family’s needs a few years down the road, especially if there are plans for more children.
- Budget. One of the most important things for all potential homeowners to consider is their personal budget. Growing a family and having children usually means a growing list of expenses as well. Estimate monthly expenses along with a mortgage payment to ensure all financial commitments can be reasonably met.
Tags: agency, agent, buyer, buyers, carolina, charleston, estate, first, home, janine, mabe, median, new, price, real, sales, south, time, west ashley
Posted in Buy a House, First Time Home Buyers, Homes, Property, Real Estate, Relocation, Uncategorized | 6 Comments »
Tuesday, May 17th, 2011
As a first time home buyer, the best place to start is at the very beginning. The National Association of Realtors recommends one of the best ways to make the home buying process flow easier and that is by becoming better-acquainted with your options and taking the time to clearly define your goals. Understanding the reasons you want to buy—and what you want to accomplish in your move. These steps will go a long way towards shaping your plans and improving your results.
Perhaps the most important first step involves deciding how you will approach your home search. Who will you work with throughout this process, and how will you work with them?
Hire A Buyer’s Agent
I would highly recommend using a buyer’s agent. In South Carolina, you can find yourself working with someone who is actually negotiating for the seller, not you the buyer. The best way to be certain your interests are being considered and protected is to sign a buyer agency agreement with a trained buyer’s representative. This agency agreement clearly establishes the client-level services you can expect and depend upon. A buyer’s agent is required by law to work as a fiduciary to you, the buyer. As such, your buyer’s agent will work for you and have your best interest in mind. If you choose the right buyer’s agent, you will get far more service than you can expect from a non-agent who is showing you homes or property.
You can expect:
- Confidentiality – your buyer’s agent cannot disclose information about you or your financial situation to the sellers, the seller’s agent, or anyone else.
- Understanding of your specific needs and wants to locate appropriate properties.
- Exposure to more choices. Your buyer’s agent will search out properties that others might not even know are available.
- Immediate notification of new properties on the market.
- Help with negotiations. There is no “crystal ball” to tell us what the other party to a transaction will decide, but an experienced real estate negotiator will provide price counseling based on comparable properties and their professional insights.
- Provide a list of potential qualified vendors (such as inspectors, attorneys, lenders, etc.) for other services that will be needed during the home buying process.
In short, when you have a good buyer’s agent you have a valuable ally on your team.
What is the cost of hiring a buyer’s agent? For you the buyer, it is typically – NOTHING! Every agent has the ability to set their own prices and you will find a few who will charge a fee to the buyer for their services, but typically you don’t have to pay for services when you hire a buyer’s agent. When you purchase a home listed with a real estate agent, the commission has been negotiated by the seller’s agent and added into the purchase price. The seller is then responsible for the commission to both a buyer’s agent and their seller’s agent.
Tags: agency, agent, buyer, buyers, estate, first, negotiate, real, time
Posted in First Time Home Buyers, Real Estate Agent, Uncategorized | 1 Comment »
The Charleston Trident Association of Realtors reported 1,045 homes were sold at a median price of $202,210 in the Charleston region last month. The area hasn’t experienced that level of sales in March since 2007, the organization said. 
Avg. Sales Price: 379,000
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