Beaufort SC Home Sellers are Ready to Bargain According to October 2009 Statistics
Posted by Todd Covington on Tuesday, November 17th, 2009 at 10:31pm.Today we will take a comparative look at single family properties sold in Beaufort for the month of October 2009 and 2008. This will be a tough blog for me becuase, to be honest, there isn't a whole lot to take from comparing the past two Octobers. Even so let's take a look. I'm posting these numbers for those who don't have access. Total completed sales are very close with 66 this year compared an almost identical 64 closings last year. While these seem to represent parallel conditions, there was something I noticed.
Looking a bit deeper into the numbers, I did find a change that bodes well for buyers. Take notice of the difference in average list price vs. sold price for the two years. It seems that sellers are coming to grips with how bad the real estate market really is. The below chart tells the story. Sellers are taking an average of 3.3% less than their list price this year. Big deal right? Actually, with the area price of home around $250k, that equals an average of $8250. Combine that with the huge price reductions in the past 18 months, plus the first time home buyers extension, and you see why more and more potential buyers are at least looking.
| | List Price | Sold Price | List/Sold Difference |
| 2008 | $273,927 | $262,448 | 4.2% |
| 2009 | $288,923 | $267,482 | 7.5% |
| Total % Change | +3.3% (in 2009) |
October 2009 Home Sales
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October 2008 Home Sales
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206 Carteret Street
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Making the Lowcountry of South Carolina home for the past 20 years, Todd Covington specializes in the Beaufort SC real estate market. Providing unsurpassed service and attention to detail, Todd is owner of www.LowcountryProperties.com which represents the finest homes in the area.
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