Everyone these days has heard about what has been happening on Wall Street and in the real estate markets. Many home builders have been following the “crisis” and abandoning their neighborhoods and markets. In the face of these fears and doubts, Brentwood Homes is standing strong. We have always strived to be a cut above everyone else. While others may have been after the quick profits, we have worked hard for lasting quality and personal relationships. This perspective, along with the fact that we own our own mortgage company, has allowed us to not only stand strong in the current economy, but also maintain our incredible growth.
Brentwood homes is about to launch 3 new communities in Charleston and 4 new communities in Charlotte. We have even stepped in to buy the lots that other home builders are abandoning, effectively saving the value for the rest of the surrounding areas. Here at Brentwood Homes, reputation is our focus and quality is our product. The American Dream is alive and well, come make it a reality today!
Friday, September 26, 2008
Wednesday, September 17, 2008
Charleston Real Estate Outlook
The market in Charleston is progressively improving, even though the national market is currently still in a questionable period. Inventory is reducing, but other factors are still resulting in a powerful buyers market.
In August 2008, There were 1670 new listings, down from July's 1910, which is always good news. There are currently 10,712 active listing in the MLS for an average list price of $514,963, however the median price is $279,000. They have been on the market for an average of 169 days. There were 1366 contingent or pending transaction in August 2008, and there were only 656 sold properties, down from last month's 768. The average sold price was $296,922 with a median price of $200,000 and an average days on market of 104 days. The list to sale ratio was 94%.
There is still more inventory out there than buyers, but for savvy buyers, the prices are amazing! Property prices are more reasonable as they have ever been. It's still a fantastic time to buy with rates historically low. Due to Charleston's fantastic position, I believe the correction cycle will be much shorter than the national trends. Charleston has continued to beat the national numbers regarding real estate and Charleston is still listed on the Top 10 places to move! To find out specific market conditions for your home or neighborhood, contact Michele for a FREE no obligation analysis.Or to find out if you qualify to make a home purchase, contact Michele for a list of lender that are qualified to help you with VA, FHA, state housing and conventional loans.
In August 2008, There were 1670 new listings, down from July's 1910, which is always good news. There are currently 10,712 active listing in the MLS for an average list price of $514,963, however the median price is $279,000. They have been on the market for an average of 169 days. There were 1366 contingent or pending transaction in August 2008, and there were only 656 sold properties, down from last month's 768. The average sold price was $296,922 with a median price of $200,000 and an average days on market of 104 days. The list to sale ratio was 94%.
There is still more inventory out there than buyers, but for savvy buyers, the prices are amazing! Property prices are more reasonable as they have ever been. It's still a fantastic time to buy with rates historically low. Due to Charleston's fantastic position, I believe the correction cycle will be much shorter than the national trends. Charleston has continued to beat the national numbers regarding real estate and Charleston is still listed on the Top 10 places to move! To find out specific market conditions for your home or neighborhood, contact Michele for a FREE no obligation analysis.Or to find out if you qualify to make a home purchase, contact Michele for a list of lender that are qualified to help you with VA, FHA, state housing and conventional loans.
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