Homes For Sale In Rivertowne Country Club: Charleston
Today, I continue to look at Charleston MLS data, and today I am looking at the numbers for homes for sale in Rivertowne Country Club. The Charleston MLS divides up Rivertowne into Rivertowne Country Club and Rivertowne On The Wando, so I will also look at the numbers separately.
For closed sales, there were 3 in October. August was the peak month so far in 2014, with 6 closed homes. That number dropped to 4 in September. August was just 1 closed sale off of last year’s peak, which was December, with 7 closed sales.
Average sales price has also dropped over the last few months. In July of this year the average sold price for homes for sale in Rivertowne Country Club was $701,667. For October, that number is down to $408,333. The peak this year was January, at $850,000. The low point was May, at $417,875. So, the numbers have dipped below the previous low point for 2014.
In comparison, in 2013 homes peaked in October at $868,250 and hit the low point back in May 2013 at $370,500. So, the high points for both years are very similar, and the lows happened in the same month (May)–until this past month. So, is it panic time? Let’s look at more numbers to see.
Pending Sales for October are also down, from 6 in September to 2. Price Per Square Foot also dropped, from $172/sq ft to $147/sq ft. Those are both down from June, which saw an average of $199/sq ft. The peak was back in January, at $216/sq ft.
If you look at the Price Per Square Foot graph, you can see that prices bottomed out early last year, then took off. There was a slight dip late 2013, but 2014 rebounded nicely to start. After a slight dip, prices were again on the rise, until mid summer. It will be interesting to watch the next couple months to see what happens.
The Average Days On the Market (DOM) increased in October, from 50 in September to 91. That is still below the 2014 peak month of February, which averaged 129 DOM. Months Supply dropped in October. In September it was 4.7 months, October was 4.4 months.
Two other stats that I looked at were the number of new listings to hit the market each month, as well as the number of current homes for sale in Rivertowne Country Club. Both numbers are declining. New listings dropped from August to October–from 8 (August), to 5 (September) to 2 (October). The numbers of currently active homes went from 21 in August, to 18 in September, to 16 in October.
Homes For Sale In Rivertowne Country Club: What The Stats Mean For Buyers
So, what is the verdict based on the stats? If you are looking to buy homes for sale in Rivertowne Country Club, then this looks to be a good time to make the move. Time will tell if the market numbers start heading back upward, as they did at the end of 2013 and the beginning of 2014. Of course, then it will be too late.
Homes For Sale In Rivertowne Country Club: What The Stats Mean For Sellers
What about selling? I looked over the active listings and noticed almost half had dropped their price at some point. I noticed that 5 of the current 15 listed are past the 91 DOM, and several others are catching up to that number soon. For current sellers, and anyone thinking of selling soon, it is critical to pay attention to these numbers and make sure you are priced accordingly.
The most homes sold in the last year and a half in Rivertowne Country Club was 7 in December. With 15 currently for sale, and only 3 that closed in October, the math isn’t hard to figure out. Competition is declining, but still fierce. The good new is the Market Supply is down, and still below the “normal market” threshold of 6 months.
If you are thinking of selling in Rivertwowne Country Club, then there are 2 critical factors your listing needs: price right from the start, taking into consideration the declining numbers, and effective marketing to reach buyers looking into Rivertowne Country Club. You can learn more about ensuring you have both by visiting my sellers page.
Meanwhile, if you are looking to buy homes for sale in Rivertowne Country Club, then visit my homes for sale in Rivertowne page and you can get a free list of homes that match your criteria sent you, with all important details: address, pictures, Google map, home details. Plus, you will receive continuous updated listings so you do not miss any homes.