Real Estate Market Update for Beaufort SC
I am always trying to study the local Beaufort South Carolina market, trying to determine what's coming next. I was looking at some stats for the new year in Beaufort, SC, and I am excited about a trend that is holding so far.
If you look at the distribution of price points that have closed this year, you see a really nice spread with about 20% of the closings in the $100-199k, in the $200-299k, in the $300-399k, and the $400-499k range each.
As a matter of fact, the sales below $99k equal the number of sales between $600-$999k! That is certainly bucking a trend established last year where an inordinate percentage of sales were under $299k, and the price ranges above that were languishing.
This is certainly good news for the 30% of our market that is priced over $300,000! The neighborhoods like Christine Place, Coosa Point, Pleasant Point, Battery Shores, Battery Point, and Habersham can certainly use the shot in the arm.
Just to compare, in 2010 about 78% of the closings in the Beaufort MLS were under $300,000; so this is a much more balanced trend if it holds.
If there is bad news, it is that the number of closings per week is down over last years average. I am not too concerned about that though, because the business closing now was written in late November and December, and those aren't usually the strongest months for real estate anyway.
If you have any questions about these numbers, or need help in determining what the current market means to you, please don't hesitate to call or email. I have a free market report for those that would like one, while they last.
Beaufort, South Carolina
843 321 9867