Daniel Island Real Estate: 2015 Stats
Here are the latest Charleston MLS stats for Daniel Island real estate. First, here is a look at Closed Sales:
That number has shot up in 2015. For March, there were 42 Closed Sales, up from 24 in February. Last March there were 28 Closed Sales.
Next, Pending Sales, which are an indicator of future sales:
In March the Pending Sales took a drop–from 41 in February to 34. Last March there were 28 Pending Sales.
Here is a look at the Average Sales Price for Daniel Island real estate:
That number took a big dip in February, but is back up almost to where it was in January.
By the way, January was the highest Average Sales Price since April of 2010. January was $773,890 and March was $771,549.
The Average Price Per Square Foot also shows the same trend:
January saw an Average Price Per Square Foot of $262/sq ft. That dropped to $218/sq ft in February, and was back up to $234/sq ft in March.
January was the highest Price Per Square Foot since November 2008 ($289/sq ft).
Here is a look at the Average Days On The Market (DOM) for Daniel Island homes for sale:
That number jumped up from February, but nowhere near where it was in January. In January it was 132 DOM, February dropped to 41 DOM, and March was 80 DOM.
Last March was 47 DOM. January was the highest DOM since July of 2013 (145 DOM).
Finally, here is a look at the Months Supply Of Inventory:
That number continues to drop, although there was a slight uptick in February. In January, there was a 3.3 Month Supply on Daniel Island, in February it was 3.4 Months, and March it was 3 Months.
All of these numbers make sense, and is what we are seeing for the Charleston SC market as well as the national market. Buyer demand is there, but inventories are lacking.
Nationally, home values are still appreciating, but they are appreciating at a slower rate. Daniel Island has been pretty hot, as you can see in the Average Sales Price graph.
Here is another look at Daniel Island real estate values, comparing year-over-year values for March of 2014 vs. March of 2015:
18% is a huge jump.
Currently, there are 88 Daniel Island homes for sale, and that number has been on the decline:
88 Active listings is the lowest number since there were 84 in April of 2005.
There are also 42 Pending Sales. Additionally, there are another 42 homes Contingent.
(Pending means all contingencies are cleared and the home is set to close, Contingent homes still have to clear contingencies but are under contract. Not all of these homes will close, but they are still a good indication of future sales).
Right now, it is a very hot Daniel Island real estate market. For buyers, there is a limited inventory, which makes for a very competitive market.
For sellers, the demand is there. However, even in this market buyers are still picky–they will not overpay for a house, and they pretty much want a home that is move-in-ready.
If you’re house doesn’t match this criteria, then you will likely stay on the market.
Of the currently listed Daniel Island homes, 37 have been listed for 100 days or longer. 14 of those have been listed for 200 days or longer.
9 of those have been on the market for 300 days or more, and 2 homes have been listed for over 1000 days(!)
So, it is not just as simple as putting your house on the market to get sold.
You still have to take the proper steps to prepare your home, and you still have to price it right from the start.
If you are thinking of buying Daniel Island homes for sale, then visit my Pam Marshall Realtor website.
If you are thinking about selling, then it is important to hire the right agent–visit my Pam Marshall Realtor sellers page.
Find the perfect home by searching the Daniel Island MLS.
And for the latest stats for Daniel Island, visit my Daniel Island Real Estate stats page.