Homes For Sale In Rivertowne On The Wando: Overall Sales
Yesterday I looked at Charleston MLS stats for homes for sale in Rivertowne Country Club, today I am looking at homes for sale in Rivertowne On The Wando. At first glance, the market numbers appear to be very similar.
For closed sales, those are down in October, from 6 in September to 2. September and June were the peak months for sales so far in 2014. They bottomed out in May, which saw 0 closed home sales. In 2013 the peak for closed sales as 4, which was hit 3 times.
Pending Sales are also down, there were 2 in October after both August and September saw 3 each. That number peaked in July, with 8 Pending Sales. The numbers for Pending Sales so far in 2014 are slightly above 2013.
The average sales price of homes for sale in Rivertowne On The Wando for October was $439,392. That was down from $473,971 in September, and October went below the previous low point of 2014 which was February at $440,462.
This number peaked the month before in January, at $830,000. Both Rivertowne Country Club and Rivertowne On The Wando had peak numbers in January this year. 2013 saw the peak in April, with an average sales price of $1,087,500, although there were only two sales that month.
The Average Days On The Market (DOM) for October was 50, jumping up from 20 in September. That number was actually declining since peaking in June at 168.
As you can see in the graphic, DOM was very low to start 2014, then rose to the peak in June and dropped as sharply, if not more. The 2014 numbers still look better than 2013, which saw a July peak of 184 DOM.
The Average Price Per Square Foot in October was also down, from $199/sq ft in September to $191 for October. However, September is the peak month so far. In 2013, the peak was April, at $229/sq ft.
That number bottomed out for both years in March of this year, at $150/sq ft. Despite the drop, the Average Price Per Square Foot for October is still above every month except 3 since January 2013.
The Months Supply of Inventory numbers also dropped slightly–down to 3.7 from 3.8 in September. In fact, that number is encouraging when you look at the graph and see how that number has gone down for the most part. This shows that supply isn’t keeping up with demand.
There were 15 homes for sale in Rivertowne On The Wando in October, also down from the 17 in September. June was the peak with 22. There was only 2 newly listed homes in October, also down from the 8 in September.
By looking at current inventory, there are some more answers there. Currently, there are 14 homes for sale. Of those, 9 have been on the market longer than the current average of 50 DOM. In fact, 7 of those are over 149 DOM, and 2 of them are over 400 DOM!
Homes For Sale In Rivertowne On The Wando: Is Now A Good Time To Buy?
Obviously, being a buyer in Rivertowne On The Wando is advantageous right now. Selection is down, but prices are favorable. When you see homes that have been on the market for long periods of time, that usually means one of two things.
You might be able to get a good deal since the sellers are probably ready to sell by now. They priced wrong from the start and have been chasing the market, so a lower offer is usually a welcome thing.
Or, they could be very stubborn and attached to a price that the market doesn’t support. Fortunately, you have this data in front of you and know the numbers. If you are looking at buying homes for sale in Rivertowne On The Wando, then be sure to check out my Rivertowne page–I will send you every listing currently available and discuss strategy with you.
Homes For Sale In Rivertowne On The Wando: Is Now A Good Time To Sell?
For sellers, the numbers can be discouraging. However, having the right price to start and a good marketing strategy will ensure you success. The demand is still there, and competition is lighter. It also seems that some of the competition has fallen behind, so getting sold quickly can be done.
If you want to sell in Rivertowne On The Wando, waiting to see if the numbers bounce back isn’t a terrible strategy. But, it could cost you money. Only you can decide what is right for you, but at least you now have a better idea of the market in your neighborhood so you can make the best decision for you.
If you want your home to join the list of homes for sale in Rivertowne On The Wando, then bee sure to check out my sellers page–having the right agent can make or break your sale!