- 2008 Stono Ferry Land Sales Forecast
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Stono Ferry Land Sales History
Over the last 10 years, the numbers lots sold per year has dropped as more homes have been built.
Based on Charleston Tax Records there are only 91 vacant lots out approximately 307 total.
After taking out the spike in lands sales of 2004 and 2005, we could expect on average approximately twenty lots to be sold per year.
In 2007, there were only 6 lot sales.
Stono Ferry lot prices held up better than the greater Charleston area lot prices. The average lot price in the Charleston area dropped 10% from 2006 to 2007, while average Stono Ferry lot price only dropped 5%*
Forecast
In 2008, there should be 8 to 10 lots sales barring a natural disaster or another major economic surprise. For current listings of homes, townhomes and land for sale in Stono Ferry go to
www.stonoferryproperties.com.
* Data based on CTAR MLS data. Data is deemed reliable but not guaranteed.
- Stono Ferry Residential Home Forecast for 2008
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Stono Ferry Homes Sale Forecast
History
Over the past 10 years Stono Ferry averaged approximately 12 home sales per year.
In the seller's market of 2005 the sales jumped to 28 home sales.
In 2007 the number Stono Ferry home sales dropped to 7.
Current
As of March 2008, the MLS data shows there have been no homes sold or placed under contract in Stono Ferry. Based on a normal history we should have 3 homes under contract or sold by now.
We are seeing increased showings and contracts being written in West Ashley and Mount Pleasant.
Subdivisions in the suburbs tend to lag 3-6 months behind the subdivisions in town when there is shift in the market.
Based on this, we should begin seeing more homes under contract in the Summer and Fall months.
Forecast
If there are no more major economic or natural disasters in 2008, we can expect 7 to 10 homes sell in Stono Ferry in 2008.
Right now, there are 28 homes in Stono Ferry on the market so it will take a while to work through the current residential inventory.
- Positive Trend in Charleston Real Estate Inventory
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Interesting Trend in Charleston Homes For Sale
Over the past 6 months another positive trend has occurred in the Charleston real estate market. The number of homes listed for sale has dropped 21% in the Mount Pleasant area and 19% in the West Ashley area. With little new construction coming on to the local real estate market, the inventory has quietly been dropping.
Sales for February have not been released but we have seen a marked increase in the number of homes going under contract in February. Stono Ferry homes sales tend follow the West Ashley homes sales, so we should begin to see more real estate sales activity in Stono Ferry.
- Jan 2008 Charleston SC Real Estate Showings
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A forward looking indicator of real estate activity is the number of showings appointments that a home or area gets. If you see showing appointments going up, then the we should see more homes going under contract in the next 30-60 days. This graph shows the showing appointments for West of the Ashley in Charleston SC has picked up significantly in the last 30 days. This is a positive trend for the real estate market in the Charleston area.
- Stono Ferry 10 Year Sales Volume
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In the next few post I will be examining the 10-year sales history for Stono Ferry homes, land and Ironwood townhomes. If we look the historical trends, we can get a better understanding of what future Stono Ferry home sales, Stono Ferry land sales, and Ironwood townhome sales. No one can predict with the future but the historical trends can be a good indicator for the 2008 Stono Ferry sales.
- 2 Story For Sale in Archfield Plantation
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Low Country Charm
• 6,150 sq. ft., 5 bath, 5 bdrm 2 story
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MLS®
$1,749,000
- Deepwater Estate
Archfield Plantation, Meggett
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Escape to Southern lowcountry living and charm at its best! Your boat is just steps from your porch for a day of deep sea fishing. Spend the afternoon fishing in Oyster Creek for Redfish and bass. Entertain, relax, and enjoy the sunsets from your grand estate overlooking the marshes of the South Carolina lowcountry.
Custom builder home with great views overlooking the water for the person looking for a private getaway. Grand entrance to this 12 room custom home begins with an elegant Mahogany door and foyer extending into formal living and dining area. Open floor plan with open kitchen that flows into the great room with all specials including subzero refrigerator, island prep area, kitchen counter bar seating area and separate breakfast area. Perfect for entertaining and relaxed living. Wired for surround sound and 2 room home theater. Kitchen, great room and living room all have views of the water. First floor master suite with large walk-in closets overlooks the water. Private bath includes double shower, with rain forest head, steamer, Whirlpool bath, double marble sinks and tile floors. Second floor has 4 bedrooms and a large game room overlooking the water. At the end of the second floor there is a separate living area with a separate stairway, a bedroom, den and a spacious exercise room. There is plenty of storage in the 3+ garage, with extras including a 250KV back up generator, propane, tank security, stocked private pond, and safety of living in a gated community. Banking, grocery, hardware, and gas are just 2 minutes away. Call for your special showing today.
Property information