Edisto Beach...America's Best Kept Secret
Median Home Price Rises Over June 2006
Date: 9/06/2007
Edisto Beach, S.C.(July 10, 2007) -- The median price of a home purchased in Edisto Beach in July of this year increased by 2.5% to $502,053, rising over July 2006's median price of $489,832. This increase signaled a modest gain over last month's median price.
Still a great long-term investment
MLS President Kathy Rawers indicates that the market is ripe for buyers. "Real estate in our area is a good investment, especially over the long-term. The current market is much better for buyers than it was in 2005 or 2006, when you had to decide sometimes in a matter of hours, whether or not to buy a certain home."
There were 1187 units sold in June 2007, down from 1456 units in June 2006. Homes spent an average of 88 days on the market before being sold; a slight improvement over May 2007's average of 94 days.
Year End Comparison for Edisto
2006 vs. 2005
Edisto Homes | 2006 | 2005 | % Change |
# Sold | 180 | 218 | -17.4% |
Avg. Sold Price | $599,156 | $464,863 | 28.9% |
Med. Sold Price | $315,000 | $386,250 | -18.4% |
Avg. DOM (Days on Market) | 94 | 94 | 0.0% |
Avg. List to Sold Price Ratio | 95.88% | 97.47% | -1.6% |
Total Value of Homes Sold | $107,848,026 | $101,340,214 | 6.4% |
# Active Listings at Year End | 154 | 88 | 75.0% |
Edisto Land | 2006 | 2005 | % Change |
# Sold | 127 | 212 | -40.1% |
Avg. Sold Price | $336,882 | $260,173 | 29.5% |
Med. Sold Price | $209,000 | $164,500 | 27.1% |
Avg. DOM | 166 | 240 | -30.8% |
Avg. List to Sold Price | 95.43% | 96.51% | -1.1% |
Total Value of Lots Sold | $42,784,012 | $55,156,750 | -22.4% |
# Active Listings at Year End | 124 | 76 | 63.2% |
Edisto Homes & Land | 2006 | 2005 | % Change |
Total Value of Properties Sold | $150,632,038 | $156,496,964 | -3.7% |
Total # Sold | 307 | 430 | -28.6% |
Total Active Listings at Year End | 278 | 164 | 69.5% |
Inventory
There were fewer new listings added to the MLS last month, with 2572 homes placed on the market in June 2007 compared to 2946 in June 2006, a decrease of 12.6%.
Plenty of Quality Homes to Choose From...
There are currently 1892 condos for sale through the multiple listing service, the majority of which (366) fall in the $140,000 - $199,999 price range. Single-family homes account for 8,554 listings. The greatest number (1114) of single family homes currently for sale are priced in the $200,000 - $249,999 range. As of July 10 there are 1568 properties under contract.
This Trend will not last...
Now is a Great Time to buy property on Edisto. Buyers have more good choices than ever. However, this trend as we know will not last. Are willing to miss this opportunity of a lifetime?
See the Best Edisto Has to offer or use our Free-No Registration MLS Search...visit... www.calgriffin.com or call Cal Griffin at 843-908-2101
Cal Griffin
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