Hidden Lakes Real Estate Report 2008
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Hidden Lakes Real Estate Report JANUARY 25, 2009 Gooden + Faircloth
www.welcomehometocharleston.com
Mt Pleasant, SC 29466 843.822.0131 www.welcomehometocharleston.com
Hidden Lakes Real Estate Report JANUARY 25, 2009 I trust you’ll find the information in this report a helpful real estate sales snapshot of what has occurred in the lovely Hidden Lakes neighborhood of Mt Pleasant during 2008, as well as what is occurring right now. Most data for the report was extracted from the Charleston Trident Multiple Listing Service. Gooden Faircloth is a Mt Pleasant and Greater Charleston based team of real estate professionals, affiliated with internationally respected Keller Williams Realty. We’re pleased to be able to provide this report to you and welcome any questions you have. Thank you. Rebecca Gooden Partner - Broker Gooden + Faircloth Real Estate Services Gooden + Faircloth
www.welcomehometocharleston.com
Gooden + Faircloth
www.welcomehometocharleston.com
Hidden Lakes Summary During 2008, 9 home sales ( excluding For Sale By Owners ) occurred in Hidden Lakes compared to 9, 11 and 8 in the three previous years. 2007 to 2008, the average sale price was up by $21,000 while the average number of days on market fell by half to 80. The average cost per square foot for 2008 homes sold was $191.
YEAR
TOTAL # HOMES SOLD
AVERAGE SALE PRICE
AVERAGE DAYS ON MARKET
2005
8
$565,750
21
2006
11
$633,263
62
2007
9
$537,677
150
2008
8
$558,906
80
The highest priced Hidden Lakes home sale in 2008 occurred in June. 1158 Waterfront Drive sold for $830,000 after being on the market for 89 days. It was originally listed $949,900, reduced to $899,900 and sold for $830,000. The average home sold in Hidden Lakes in ’08 remained on the market for 80 days. Turnover remains low in Hidden Lakes with 7 homes currently listed for sale ( excluding FSBO ). The current average list price for homes listed in Hidden Lakes is $644,529. The average number of days on market for those homes listed is 157. 1237 Hidden Lakes has been on the market for the longest, 281 days.
Gooden + Faircloth
www.welcomehometocharleston.com
Sold In The Past Year HIDDEN LAKES HOMES SOLD JANUARY 1, 2008 - DECEMBER 31, 2008 The table below lists all homes sold in Hidden Lakes during 2008 ( does not include homes sold by owner ). Details include: Home address, original list price, final list price, price home sold for, date of close, square footage of home, price per square foot, days on market and cumulative days on market.
ORIGINAL LIST PRICE
HOME ADDRESS
FINAL LIST PRICE
SOLD PRICE
DATE OF CLOSE
SQUARE FEET
PRICE PER SQ FOOT
DOM
1209 WATERFRONT DR
$615,000
$615,000
$585,000
1/11/08
2581
$227
31
1253 WATERFRONT DR
$664,900
$634,900
$572,500
2/27/08
3700
$155
187
1347 OUTREACH LANE
$499,000
$499,000
$495,000
4/18/08
2513
$197
46
1385 HIDDEN LAKES DR
$449,500
$449,500
$418,750
5/16/08
2401
$174
32
1158 WATERFRONT DR
$949,900
$899,900
$830,000
6/5/08
3500
$237
89
1261 HIDDEN LAKES DR
$619,900
$495,000
$465,000
6/24/08
3893
$119
162
1265 HIDDEN LAKES DR
$620,000
$599,000
$575,000
8/19/08
3000
$192
54
1201 WATERFRONT DR
$537,288
$537,288
$530,000
9/5/08
2363
$224
39
$619,436
$591,199
$558,906
$191
80
Average
Gooden + Faircloth
www.welcomehometocharleston.com
Hidden Lakes Active Listings
WHAT IS CURRENTLY ON THE MARKET? * The table below lists details for those homes currently listed on the Charleston Trident MLS. Information includes: Address of home, original list price, current list price, square footage, price per square foot, list date, days on market and cumulative days on market.
HOME ADDRESS
ORIGINAL LIST PRICE
CURRENT LIST PRICE*
SQUARE FT
PRICE PER SQUARE FT
LIST DATE
DOM
CDOM
1237 HIDDEN LAKES DR
$624,900
$624,900
2533
$247
4/14/08
281
281
1296 WATERFRONT DRIVE
$550,000
$515,000
2675
$193
7/13/08
191
191
1333 TAILWIND CT
$649,000
$639,000
2898
$220
8/6/08
166
166
1234 WATERFRONT DR
$949,900
$875,000
4036
$217
8/12/08
160
160
1309 WATERFRONT DR
$559,000
$559,000
2400
$233
9/10/08
132
132
1314 SANDY SHORE CT
$599,900
$599,900
2864
$209
10/25/08
87
87
1300 WATERFRONT DR
$579,000
$579,000
3300
$175
11/7/08
74
74
$644,529
$627,400
Average
* AS OF JANUARY 25, 2009. Gooden + Faircloth
www.welcomehometocharleston.com
$213
157
Summary of Home Sales & Listings HIDDEN LAKES HOMES SOLD SUMMARY The table below summarizes home sales for 2008. Details include: number of homes sold, average original list price, average final list price, average sold price, sold price divided by original list price, sold price divided by final list price, original list price / square foot, average sold price / square foot, sold price per square foot divided by original price per square foot, average DOM, average CDOM. # OF HOME SOLD
1/1/008 12/31/08
CURRENT LISTINGS AS OF:
Jan 21, 2009
8
AVG ORIGINAL LIST PRICE
$619,436
NUMBER OF HOUSES LISTED
7
AVG FINAL LIST PRICE
AVG SOLD PRICE
$591,199
AVERAGE ORIGINAL LIST PRICE
$644,529.00
$558,906
AVG % SOLD / FINAL LIST $
94.50%
AVERAGE CURRENT LIST PRICE
$627,400.00
AVG ORIG LIST $ / SQ FT
AVG SOLD $ / SQ FT
$198
$191
AVERAGE ORIGINAL LIST PRICE / SQ FOOT
$218.00
AVG DOM
80
AVERAGE CURRENT PRICE / SQ FOOT
$213.00
CURRENT HIDDEN LAKES LISTINGS - SUMMARY The table above provides the following information: number of homes currently listed ( non FSBO ) on the Charleston Trident MLS as of January 21, 2008, average original list price, average current list price, average original list price per square foot and average current list price per square foot.
Gooden + Faircloth
www.welcomehometocharleston.com
Hidden Lakes Real Estate Sales History SALES AND INVENTORY REPORT - JANUARY 1, 2008 - DECEMBER 31, 2008 The table details below include: number of homes sold during month, average list price, average sale price, average price per square foot, median price, average days on market, sold price percent of list price, number of homes which were on the market that month and the number of months it would take to absorb (sell ) the month’s inventory if no additional properties come on the market.
MONTH YEAR
TOTAL SALES
AVG LIST PRICE
AVG SALE PRICE
AVERAGE PRICE PER SQUARE FT
AVG DAYS ON MARKET
% SOLD / LIST
CURRENT INVENTORY
# MONTH’S INVENTORY *
Jan-08
1
$615,000
$585,000
$227
31
95.12%
4
4
Feb-08
1
$634,900
$572,500
$155
187
90.17%
4
4
Mar-08
0
0
0
0
0
0%
3
0
Apr-08
1
$499,000
$495,000
$197
46
99.19%
6
6
May-08
1
$449,500
$418,750
$174
32
93.15%
6
6
Jun-08
2
$697,450
$647,500
$178
125
92.83%
8
4
Jul-09
0
0
0
0
0
0%
8
0
Aug-08
2
$389,500
$368,750
$144
48
94.67%
8
4
Sep-08
1
$537,288
$530,000
$224
39
98.64%
10
10
Oct-08
0
0
0
0
0
0%
10
0
Nov-08
0
0
0
0
0
0%
11
0
Dec-08
0
0
0
0
0
0%
9
0
Annual
9
$545,509
$514,861
$180
75
94.38%
7
7
Note: The "Current Inventory" column(s) reflect the number of active and contingent (on market) listings on the 16th day of each month. The "Months Inventory" column(s) value(s) equal "Current Inventory" divided by "Monthly Sales". ( A month inventory listed as zero is not a true reflection of monthʼs inventory. It is simply a result of dividing the current inventory by a monthly total sale of zero. ) This reflects how many months it would take to sell out of inventory at the current month's rate of sale.
8
www.welcomehometocharleston.com
Mt Pleasant, SC 29466 843.822.0131 www.welcomehometocharleston.com
Hidden Lakes Real Estate Report JANUARY 25, 2009 I trust you’ll find the information in this report a helpful real estate sales snapshot of what has occurred in the lovely Hidden Lakes neighborhood of Mt Pleasant during 2008, as well as what is occurring right now. Most data for the report was extracted from the Charleston Trident Multiple Listing Service. Gooden Faircloth is a Mt Pleasant and Greater Charleston based team of real estate professionals, affiliated with internationally respected Keller Williams Realty. We’re pleased to be able to provide this report to you and welcome any questions you have. Thank you. Rebecca Gooden Partner - Broker Gooden + Faircloth Real Estate Services Gooden + Faircloth
www.welcomehometocharleston.com
Gooden + Faircloth
www.welcomehometocharleston.com
Hidden Lakes Summary During 2008, 9 home sales ( excluding For Sale By Owners ) occurred in Hidden Lakes compared to 9, 11 and 8 in the three previous years. 2007 to 2008, the average sale price was up by $21,000 while the average number of days on market fell by half to 80. The average cost per square foot for 2008 homes sold was $191.
YEAR
TOTAL # HOMES SOLD
AVERAGE SALE PRICE
AVERAGE DAYS ON MARKET
2005
8
$565,750
21
2006
11
$633,263
62
2007
9
$537,677
150
2008
8
$558,906
80
The highest priced Hidden Lakes home sale in 2008 occurred in June. 1158 Waterfront Drive sold for $830,000 after being on the market for 89 days. It was originally listed $949,900, reduced to $899,900 and sold for $830,000. The average home sold in Hidden Lakes in ’08 remained on the market for 80 days. Turnover remains low in Hidden Lakes with 7 homes currently listed for sale ( excluding FSBO ). The current average list price for homes listed in Hidden Lakes is $644,529. The average number of days on market for those homes listed is 157. 1237 Hidden Lakes has been on the market for the longest, 281 days.
Gooden + Faircloth
www.welcomehometocharleston.com
Sold In The Past Year HIDDEN LAKES HOMES SOLD JANUARY 1, 2008 - DECEMBER 31, 2008 The table below lists all homes sold in Hidden Lakes during 2008 ( does not include homes sold by owner ). Details include: Home address, original list price, final list price, price home sold for, date of close, square footage of home, price per square foot, days on market and cumulative days on market.
ORIGINAL LIST PRICE
HOME ADDRESS
FINAL LIST PRICE
SOLD PRICE
DATE OF CLOSE
SQUARE FEET
PRICE PER SQ FOOT
DOM
1209 WATERFRONT DR
$615,000
$615,000
$585,000
1/11/08
2581
$227
31
1253 WATERFRONT DR
$664,900
$634,900
$572,500
2/27/08
3700
$155
187
1347 OUTREACH LANE
$499,000
$499,000
$495,000
4/18/08
2513
$197
46
1385 HIDDEN LAKES DR
$449,500
$449,500
$418,750
5/16/08
2401
$174
32
1158 WATERFRONT DR
$949,900
$899,900
$830,000
6/5/08
3500
$237
89
1261 HIDDEN LAKES DR
$619,900
$495,000
$465,000
6/24/08
3893
$119
162
1265 HIDDEN LAKES DR
$620,000
$599,000
$575,000
8/19/08
3000
$192
54
1201 WATERFRONT DR
$537,288
$537,288
$530,000
9/5/08
2363
$224
39
$619,436
$591,199
$558,906
$191
80
Average
Gooden + Faircloth
www.welcomehometocharleston.com
Hidden Lakes Active Listings
WHAT IS CURRENTLY ON THE MARKET? * The table below lists details for those homes currently listed on the Charleston Trident MLS. Information includes: Address of home, original list price, current list price, square footage, price per square foot, list date, days on market and cumulative days on market.
HOME ADDRESS
ORIGINAL LIST PRICE
CURRENT LIST PRICE*
SQUARE FT
PRICE PER SQUARE FT
LIST DATE
DOM
CDOM
1237 HIDDEN LAKES DR
$624,900
$624,900
2533
$247
4/14/08
281
281
1296 WATERFRONT DRIVE
$550,000
$515,000
2675
$193
7/13/08
191
191
1333 TAILWIND CT
$649,000
$639,000
2898
$220
8/6/08
166
166
1234 WATERFRONT DR
$949,900
$875,000
4036
$217
8/12/08
160
160
1309 WATERFRONT DR
$559,000
$559,000
2400
$233
9/10/08
132
132
1314 SANDY SHORE CT
$599,900
$599,900
2864
$209
10/25/08
87
87
1300 WATERFRONT DR
$579,000
$579,000
3300
$175
11/7/08
74
74
$644,529
$627,400
Average
* AS OF JANUARY 25, 2009. Gooden + Faircloth
www.welcomehometocharleston.com
$213
157
Summary of Home Sales & Listings HIDDEN LAKES HOMES SOLD SUMMARY The table below summarizes home sales for 2008. Details include: number of homes sold, average original list price, average final list price, average sold price, sold price divided by original list price, sold price divided by final list price, original list price / square foot, average sold price / square foot, sold price per square foot divided by original price per square foot, average DOM, average CDOM. # OF HOME SOLD
1/1/008 12/31/08
CURRENT LISTINGS AS OF:
Jan 21, 2009
8
AVG ORIGINAL LIST PRICE
$619,436
NUMBER OF HOUSES LISTED
7
AVG FINAL LIST PRICE
AVG SOLD PRICE
$591,199
AVERAGE ORIGINAL LIST PRICE
$644,529.00
$558,906
AVG % SOLD / FINAL LIST $
94.50%
AVERAGE CURRENT LIST PRICE
$627,400.00
AVG ORIG LIST $ / SQ FT
AVG SOLD $ / SQ FT
$198
$191
AVERAGE ORIGINAL LIST PRICE / SQ FOOT
$218.00
AVG DOM
80
AVERAGE CURRENT PRICE / SQ FOOT
$213.00
CURRENT HIDDEN LAKES LISTINGS - SUMMARY The table above provides the following information: number of homes currently listed ( non FSBO ) on the Charleston Trident MLS as of January 21, 2008, average original list price, average current list price, average original list price per square foot and average current list price per square foot.
Gooden + Faircloth
www.welcomehometocharleston.com
Hidden Lakes Real Estate Sales History SALES AND INVENTORY REPORT - JANUARY 1, 2008 - DECEMBER 31, 2008 The table details below include: number of homes sold during month, average list price, average sale price, average price per square foot, median price, average days on market, sold price percent of list price, number of homes which were on the market that month and the number of months it would take to absorb (sell ) the month’s inventory if no additional properties come on the market.
MONTH YEAR
TOTAL SALES
AVG LIST PRICE
AVG SALE PRICE
AVERAGE PRICE PER SQUARE FT
AVG DAYS ON MARKET
% SOLD / LIST
CURRENT INVENTORY
# MONTH’S INVENTORY *
Jan-08
1
$615,000
$585,000
$227
31
95.12%
4
4
Feb-08
1
$634,900
$572,500
$155
187
90.17%
4
4
Mar-08
0
0
0
0
0
0%
3
0
Apr-08
1
$499,000
$495,000
$197
46
99.19%
6
6
May-08
1
$449,500
$418,750
$174
32
93.15%
6
6
Jun-08
2
$697,450
$647,500
$178
125
92.83%
8
4
Jul-09
0
0
0
0
0
0%
8
0
Aug-08
2
$389,500
$368,750
$144
48
94.67%
8
4
Sep-08
1
$537,288
$530,000
$224
39
98.64%
10
10
Oct-08
0
0
0
0
0
0%
10
0
Nov-08
0
0
0
0
0
0%
11
0
Dec-08
0
0
0
0
0
0%
9
0
Annual
9
$545,509
$514,861
$180
75
94.38%
7
7
Note: The "Current Inventory" column(s) reflect the number of active and contingent (on market) listings on the 16th day of each month. The "Months Inventory" column(s) value(s) equal "Current Inventory" divided by "Monthly Sales". ( A month inventory listed as zero is not a true reflection of monthʼs inventory. It is simply a result of dividing the current inventory by a monthly total sale of zero. ) This reflects how many months it would take to sell out of inventory at the current month's rate of sale.
8
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