Brickyard Plantation: Sold Stats
I am continuing my look at Charleston MLS stats, and today I am looking at the numbers for Brickyard Plantation. The first number is the number of Brickyard Plantation homes for sale that sold. In October, there were 2 closed sales. That number dropped sharply from 7 in September and the peak for 2014 in August, which saw 10 closed sales.
September also saw the peak for number of Brickyard Plantation homes for sale, with 18. That number dropped in October to 15. However, the number of Pending Sales is on the increase. That peaked in July with 10 homes under contract, then dropped to 3 in August. Since then, that number has increased to 4 in September and 6 in October.
Brickyard Plantation Homes For Sale: Prices On The Upswing
While the number of closings is down, other numbers look good. The average sales price has been on the upswing since July, which saw an average sales price in Brickyard Plantation of $400,500. That actually wasn’t the low point for 2014–that happened back in April with an average sales price pf $369,750.
In October, that number is $547,500. The highest sales price this year was May, with $642,143. That peak is still less than the peak average sales price in 2013, which in March was $719,950. However, the current numbers are still higher than any month of 2013, other than March.
October saw the highest Average Price Per Square Foot, at $186/square foot. That number is the highest in nearly 2 years, except for March last year that also saw an Average Price Per Square Foot of $186/square foot.
The Average Days On the Market (DOM) for Brickyard Plantation has creeped up. July and August saw low Average DOM numbers–11 and 10 respectively.
In September that number jumped up to 38 DOM, and October rose slightly to 42 DOM. Another key stat is the Months Supply of inventory. 6 months is considered a normal real estate market, anything less is a seller’s market.
For Brickyard Plantation homes for sale, there is a 3.1 months supply of inventory, and that is down from September which saw a 3.7 month supply. As you can see in the graph, that number had increased from the low point of 2014–April, which saw a 1.2 month supply. September was not only the largest supply of homes for 2014, but for 2013 as well.
Is Now A Good Time To Buy Or Sell In Brickyard Plantation?
So, what does this all mean for people thinking of buying or selling Brickyard Plantation homes for sale?
For sellers, this is a great time to sell. Currently, there are 14 Brickyard Plantation homes for sale. All numbers are favorable to sell–the Average Price and Price Per Square Feet are both up, and as you can see in the graph, the Average Sales Price has increased sharply in the last couple months–not quite at the peak for either 2013 or 2014, but heading that way.
Plus, one of the biggest factors is the fact that there isn’t a lot of competition right now. Brickyard Plantation remains a popular neighborhood, so the desire is there from buyers–clearly evidenced by the low Months Supply of inventory, as well as the low DOM numbers. While the DOM has increased, 42 DOM is still a low number.
For buyers, it is also a good time. Granted, the selection of homes is down, and prices are heading back up, so it is more of a seller’s market in Brickyard Plantation. However, with values increasing and demand greater than supply, it is better to get in while things are “hot”.
Better to strike when things are on the upswing as this will increase equity that much quicker. Interest rates are actually doing very well right now, and most predictions have them going up over the next year.
For buyers, it is a great time to buy more house as opposed to waiting–with prices going up and interest rates going up, waiting will mean getting less house for your money and paying more for it.
If you are thinking of selling in Brickyard Plantation, then I have three. resources for you. You can check out my sellers page, and my listing videos. You can also get an free,Online Instant Home Value Estimate.
Or, sign up to get a Comprehensive Market Analysis Report. Simply visit my site at www.HolyCityHomeValues.com. I will even through in a free Fall 2014 Home Seller’s Guide packed with lots of helpful information.
For anyone looking at purchasing Brickyard Plantation homes for sale, then check out my Brickyard Plantation buyers page.