Carolina Park Mt Pleasant SC: Hitting Record Numbers
Today I am looking at the latest Charleston MLS stats for Carolina Park Mt Pleasant. First, here is a look at the Closed Sales:
2015 kicked off with 8 Closed Sales in January, and dropped in February to 7. In March, there was a big spike to 18 Closed Sales. For April, there were 11. Last April there were 9 Closed Sales.
The peak of 2014 came in December, which saw 21 Closed Sales. The peak for 2013 also came in December, with 27 Closed Sales, which is the most ever in Carolina Park Mt Pleasant.
So, already in 2015 we came close to the peak last year. Will we hit or surpass December 2013 at some point this year?
Let’s see what the Pending Sales look like to give us an idea of what could be in store:
Pending Sales dropped in April, from 20 in March to 14. Last April, there were 19 Pending Sales, which was also the peak month for 2014.
So, March of 2015 bested the peak month of 2014. March 2015 was the highest month for Pending Sales in Carolina Park’s short history.
The selling season is upon us, so we could see these numbers rise–we also will have to look at the current number of homes under contract to see if hitting the all time sales numbers is possible this year.
First, let’s look at home values. Here is a look at the Average Price Per Square Foot for homes for sale in Carolina Park:
That number has been up and down to start 2015. In January, the Average Price Per Square Foot for sold Carolina Park homes was $189/sq ft. That jumped up to $214/sq ft in February, but dropped to $192/sq ft in March. For April, it is back up to $202/sq ft.
Last April the Average Price Per Square Foot was $167/sq ft. June was the peak month of 2014 at $198/sq ft.
So, 2014 never saw a month that averaged over $200/sq ft., but in 2015 we have seen it twice. February is the highest Average Price Per Square Foot for Carolina Park ever, and April is the second highest.
Next up, a look at the Average Sales Price:
January started 2015 with an Average Sales Price of $491,550. That shot up to $640,304 in February.
March saw an Average Sales Price of $532,984, and in April it was back up to $581,046. Last April the Average Sales Price was $492,873.
The peak month in 2014 came in June at $565,562. So for only 4 months into 2015 we have bested last year’s peak twice.
By the way, February 2015 is the highest month for home values in Carolina Park Mt Pleasant, and April 2015 is second.
Here is a look at the Average Days On The Market (DOM):
That number made a big jump in 2015. In December 2013 the Average DOM for Carolina Park was 35. In January, it shot up to 115 DOM.
It dropped to 82 DOM in February, and increased in March and April (at 94 DOM and 102 DOM, respectively).
Last April Carolina Park was at 125 DOM. The lowest DOM in 2014 came in August at 5 DOM. The highest month was 131 DOM.
There have been 5 times in Carolina Park’s history that saw a DOM under 30, and April of 2013 was the lowest at 0 DOM.
Here is a look at the Months Supply Of Inventory for homes for sale in Carolina Park Mt Pleasant:
2015 started off at 3 a Month Supply across January, February, and March. In April it dropped to 2.2 Months.
April of 2014 was the low point, at 1.9 Months. That’s still not the lowest Months Supply for Carolina Park. In January through April 2010 there was a 1 Month Supply.
Currently, there are 27 Active Listings in Carolina Park. There are another 54 Pending Sales, and another 9 homes under contract.
It looks very possible, if not likely, we will see a new high number for Pending Sales.
It is also possible we may see a new high for Closed Sales. Home values don’t look to change to dramatically, as the Pending Sales average a list price of $582,031.
However, that could depend more on when these homes close.
There is also the Contingent Sale homes. They average a list price of $478,067.
If you are looking to buy homes for sale in Carolina Park Mt Pleasant, it is important to keep the market numbers in mind.
Although the Average Sales Price has fluctuated up and down in 2015 so far, more than likely that number will continue to rise.
The selection is decent, as all of the current homes for sale in Carolina Park are new construction homes.
Not all of them are completed homes, most are either under construction or proposed construction.
This is an advantage as you can customize the house to your liking. The downside is that you have to wait longer for your new home. But for many buyers, it is worth it.
If you are thinking about selling in Carolina Park, then the main thing you have to consider is the fact that you are competing against the builders.
You want to make sure your home looks like a new home. If not, buyers will stay away.
Obviously, the demand is there–the Months Supply dropped from an already low 3 Months to 2.2 Months.
But if your home doesn’t come close to a shiny, brand new home and isn’t priced competitively, then you will lose out to the builders.
One last note for buyers searching for homes for sale in Carolina Park Mt Pleasant: the builders have agents working for them.
These are the agents you meet in the sales office/model home. They represent the sellers. You are entitled to have your own agent representing your best interests. Best of all, it doesn’t cost you anything.
Using your own agent could save you thousands of dollars, and can help make sure the closing process goes smoothly.
Learn more on my Pam Marshall Realtor website.
If you are thinking about selling, then check out my Pam Marshall Realtor sellers page.
You can also check out the latest MLS stats for Carolina park at my Carolina Park Mt Pleasant page.