Tanner Plantation Homes For Sale: Closed Sales And
Today I am looking at Charleston MLS data to see what’s been going on with Tanner Plantation homes for sale. In October, there were 11 closed sales. There were also 11 closed sales in September. The peak for 2014 was in May, with 18 closed sales. That was just short of the high point of 20 closed sales back in August 2013, which is the high point since the beginning of 2013.
Pending sales in October were 13, up from 11 in September. The peak month was May, with 22. May 2014 was the most Pending Sales since the beginning of 2013.
The Average Sales Price in Tanner Plantation for October was $259,040. That number is down slightly from $263,260 in September. The high point for 2014 was in January, which saw an Average Sales Price of $281,780.
The Average Price Per Square Foot was $102/sq ft for both October and September. The peak for 2014 was $111/sq ft for August.
The Average Days On The Market peaked at 119 DOM in October, which happens to be the longest average DOM since the beginning of 2013. As you can see in the graph, that number shot up from the low point of 29 DOM in September. September was also the lowest DOM since the beginning of 2013.
The Months Supply of Inventory dropped in October to 3.6 months. In September it was 4.3 months. The longest supply of inventory was in April, at 5.2 months.
The number of Active Listings dropped in October as well. There were 45 active Tanner Plantation homes for sale, down from 51 in September. August was the peak month at 58. New listings to hit the market increased from September to October, going from 9 in September to 13 in October. Currently, there are 34 Tanner Plantation homes for sale.
Tanner Plantation Homes For Sale: Breaking Down The Numbers
Looking over the graphs and stats, it appears things may be leveling off in Tanner Plantation. For buyers, this could be a good time to buy in Tanner Plantation. For sellers, the numbers may appear to be bad news. However, looking over the current Tanner Plantation homes for sale, there are many with long Average DOM. For these homes overall the Average DOM is 127. The Average Price Per Square Foot is almost $114.sq ft.
Tanner Plantation Homes For Sale: Good Time To Buy Or Sell?
So, it appears many of these homes are chasing the market–they started out overpriced and are trying to catch back up. However, many have a ways to go since the average Price Per Square Foot is still nearly $12/sq ft overpriced.
This could present a potential problem for both buyers and sellers. Sellers may be reluctant to accept what is fair market value for their home, possibly believing their home is worth more than what it actually is.
Buyers won’t be willing to pay the extra, so if sellers do not want to come off their prices, then this could kill negotiations. And, you also have to worry about the appraisal coming in low.
However, armed with this information from the Charleston MLS, this strengthens the buyer’s negotiation power.
If you are thinking of buying Tanner Plantation homes for sale, then be sure to check out my buyer’s page–you can get a free list of Tanner Plantation homes for sale.
It’s possible you could get a very good deal from one of the sellers that has been listed for a long time and ready to get it over with and sold.
For sellers, now can be a good time to sell. The Average Sales Price, while down in October, still remains near the highest level it has been in the last year and a half. By simply pricing right from the beginning, you should see a quick sale. The Months Supply has dropped, and it remains by definition a sellers market in Tanner Plantation.
Plus, by pricing according to the market, your home will already stand out from the competition. Based on the Charleston MLS data, you will be well ahead of most other Tanner Plantation homes for sale.
You can also get a comprehensive Market Analysis, and I will happy to help you get your house to become the next Tanner Plantation Homes for sale, and the next one to be sold!