New Homes Mt Pleasant SC: The Numbers
Today I am looking at the numbers for the hottest city in the greater Charleston SC area: Mt Pleasant. Mt Pleasant is the fastest growing city in South Carolina, and in fact, it is the fastest growing city on the South according to the US Census. I covered this in detail in another post, as well as in one of my videos.
So, here is how the numbers break down for new homes in Mt Pleasant SC over the last few years. In 2012, there were 1766 homes sales overall. New homes made up 256 of these sales. By the way, this is sales of all types–single family homes, condos and townhomes.
In 2013, there were 2341 sales overall, with new homes comprising 456 of those. So far in 2014, there have been a total of 1493 sales, of which 310 were new homes. Looking at projected numbers for the rest of 2014 (based on sales so far), we look to have 2338 sales total, and 492 sales of new homes Mt Pleasant SC.
There are currently 171 active listings of new homes, and to reach that projected number we would need to sell all of those plus one more. However, there are currently 151 pending sales of new homes Mt Pleasant SC, and another 96 more under contract, so based on that info we are not only on track, but likely to exceed those numbers.
I also broke down the numbers to see what percentage of overall sales the new homes were. Going year by year, new homes made up 14.5% of the overall sales for 2012, 19.5% for 2013, and 21% so far for 2014. Based on the projected numbers that should stay at 21%.
However, again looking a little more closely at the numbers, there are currently 163 Pending sales, along with another 367 homes under contract. According to the projected numbers, we are on pace to sell an additional 845 homes to get to the final sales of 2338.
There are 163 Pending sales, of which 151 are new homes. Then there are also 367 homes under contract and new homes make up 96 of them.
So, it looks like we will hit the projected sales numbers for 2014 and could likely exceed them. It will be interesting to watch how all this plays out, and to see if new homes sales hold steady at the current 21% piece of the Mt Pleasant SC real estate market, or increase as they have the past two years.
I will be updating the stats from the market continuously on this blog, so be sure to stay tuned. You can subscribe to my RSS feed so you don’t miss anything.
If you have any questions or comments, please leave them below and I will be happy to help out or even cover them in future posts.
In the meantime, if you know anyone looking to buy or sell real estate, bee sure to send them to my website, www.PamMarshallRealtor.com.
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