Homes For Sale In Dunes West Mount Pleasant SC: Closed
And Pending Sales
Today I am looking at the Charleston MLS data for the numbers on homes for sale in Dunes West Mount Pleasant SC. First up, closed sales. October saw 21 closed homes, down from September which saw 23 homes close. That is also down from August, which saw 33 homes sold. August was not only the peak month for 2014, but the best month since the beginning of 2013.
October saw an increase in Pending Sales, up to 16. In September, there were 13 homes for sale in Dunes West Mount Pleasant SC that went under contract. That was the fewest so far in 2014, and the peak for this year was May with 33.
Average sales price dipped from September to October. In September it was $555,282 and October it was $469,568. The peak was March, at $581,666. January was the low point, at $380,361.
As you can see in the graph, there were a couple big spikes in prices in December of last year and March this year. Still, they are slightly above where they have been for the most part since the beginning of 2013.
Sales look to go up, as there are 18 currently Pending Sales, and another 20 Dunes West homes under contract. However, based on their prices, sales could dip further in the next couple months.
The Pending Sales homes average a list price of $444,900 and the Contingent Sales homes average $404,657. Of course, those are list prices–we will not know what price they are contracted at until after closing.
One other thing to keep in mind–the data I share is based on the entire neighborhood and all home types. Dunes West features condos, townhomes, as well as single family homes.
Homes For Sale In Dunes West Mount Pleasant SC: Numbers For Sellers
Average Price Per Square Foot also was down in October. In September it was $165/sq ft, October it was $160/sq ft. March was the peak month for 2014, at $171/sq ft.
The low point was February which saw an Average Price Per Square Foot of $143. As you can see by the graph, October is still better than all but 4 months since the beginning of 2013.
October is the best month so far in 2014 for Average Days On The Market (DOM) at 46. That is down from September’s 57. That number has been mostly coming down from the January high of 90.
October also is the fastest DOM number since the beginning of 2013. (It actually is the fastest going back to before 2011).
Market Supply also dipped to below 4 months in October, right at 3.9. In September, that number was 4.3. The supply of homes for sale in Dunes West Mount Pleasant SC has been mostly at or above 4 months so far in 2014.
The longest supply this year was January, at 4.4 months. Besides October, that number dipped below 4 months in February and August. The low point was February at 3.7 months. Keep in mind, a normal real estate market is 6 months inventory, anything below is a sellers market.
Homes For Sale In Dunes West Mount Pleasant SC: Is Now A Good Time To Buy?
For buyers looking at Dunes West, now is a good time seeing as prices are down. Plus, there is a good selection of homes available–there are currently 76 homes for sale in Dunes West Mount Pleasant SC, including 15 new listings in October.
Homes For Sale In Dunes West Mount Pleasant SC: Is Now A Good Time To Sell?
For sellers, it is easy to say the numbers don’t look favorable. However, that simplified explanation doesn’t tell the whole story. Dunes West remains one of, if not the most, popular neighborhoods in Mt Pleasant.
Prices are down, but they are still at good levels–better than where they have been for the better part of the last year plus. Also, it is important to note the Average DOM and Months Supply of Inventory–these numbers clearly demonstrate that the demand is there.
You also have to account for each subsection in Dunes West, as well as the range of housing options available. From condos, to starter homes, all the way up to waterfront mansions. Based on these additional factors, now isn’t a bad time to sell. But you have to keep in mind there is competition.
If you are thinking of buying in Dunes West, be sure to visit my Dunes West page–you can have listings from Dunes West sent to you, along with constant updates so that you will know about the newest and hottest listings before other buyers do.
You can also go online and find out an Instant Home Value Estimate for your Dunes West home. At that site or my sellers page you can also request a free, comprehensive Market Analysis to see what your home is currently worth.
Whether you are selling or buying homes for sale in Dunes West Mount Pleasant SC, you need to have the right agent working for you. Call me today at 706-490-0055!