Mt Pleasant, Sc - Ivy Hall Real Estate Report

March 2009

Ivy Hall Real Estate Report Gooden + Faircloth

www.gfcharleston.com

Mt Pleasant, SC 29466 T 843.822.0131 www.gfcharleston.com

Ivy Hall Real Estate Report MARCH 2009 PREPARED BY: Rebecca Gooden Like you, I own property in the Ivy Hall area. As Treasurer, I serve on the Home Owner’s Association Board of Directors for Laurel Grove. Ivy Hall is an area about which I am knowledgeable, experienced and specialized. I am very interested in preserving and, where possible, enhancing our neighborhood property values and quality of life. We are in a hot zone of development and need to remain vigilant as inevitable building pressures continue. Thank you for requesting a copy of the gooden + faircloth Ivy Hall Real Estate Report. I’m confident you’ll find the information in this beneficial report a clearly prepared snapshot of exactly what has occurred in Ivy Hall over the past year, as well as what is occurring right now. Most data for this report was extracted from the Charleston Trident Multiple Listing Service. I welcome your questions and interest in Ivy Hall. Thank you. Rebecca Gooden Partner gooden + faircloth

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Gooden + Faircloth

www.gfcharleston.com

Ivy Hall Summary

Over the past 13 months, 8 home sales ( excluding For Sale By Owners ) have occurred in Ivy Hall at an average sold price just shy of $240,500. 2 homes, selling for the exact same price, were the highest sold homes in Ivy Hall. 3031 Morningdale and 1300 Gilead both sold for $260,000. Gilead’s per square foot price was much lower at $131 vs $170 for 3031 Morningdale. The average per square foot price for all homes sold in Ivy Hall over the past 13 months was $155. For all homes sold in the last 13 months in Ivy Hall, the average number of days homes remained on the market before selling was124 days. As of March 3, 2009 there are 9 homes on the market ( non FSBO ) at an average price of $158 per square foot and an average current list price of $ 254,211. In the following pages, we provide you with detailed information relative to home sales and current listings in Ivy Hall.

Gooden + Faircloth

www.gfcharleston.com

Sold In The Past Year IVY HALL HOMES SOLD FEBRUARY 1, 2008 - FEBRUARY 28, 2009 The table below lists all homes sold in Ivy Hall over the past 13 months ( 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.

HOME ADDRESS

ORIGINAL LIST PRICE

FINAL LIST PRICE

SOLD PRICE

DATE OF CLOSE

SQUARE FEET

PRICE PER SQ FOOT

DOM

3230 MORNINGDALE DR

$269,000

$259,000

$245,000

5/15/2008

1,535

$160

162

163

3019 MORNINGDALE DR

$255,000

$255,000

$242,000

5/29/2008

1,470

$165

14

15

3031 MORNINGDALE DR

$289,450

$269,900

$260,000

6/18/2008

1,530

$170

395

396

3162 MORNINGDALE DR

$253,000

$246,000

$225,000

6/30/2008

1,300

$173

176

176

1300 GILEAD RD

$269,900

$269,900

$260,000

8/1/2008

1,980

$131

5

103

3236 SEABORN DR

$264,900

$259,500

$242,000

8/26/2008

1,760

$138

41

257

3300 SEABORN DR

$269,000

$263,000

$250,000

9/24/2008

1,600

$156

177

178

3348 MORNINGDALE DR

$214,000

$214,000

$200,000

1/20/2009

1,332

$150

19

119

Averages

$260,531

$254,538

$240,500

$155

124

176

5

CDOM

Ivy Hall Active Listings 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

3092 MORNINGDALE DR

$326,500

$306,000

2115

$145

3/7/08

361

361

3273 SCRANTON DR

$257,900

$245,000

1630

$150

7/6/08

240

240

3039 MORNINGDALE DR

$275,000

$250,000

1530

$163

9/24/08

158

158

3154 MORNINGDALE DR

$254,900

$244,000

1530

$159

10/8/08

146

146

3059 MORNINGDALE DR

$300,000

$299,000

1930

$155

10/19/08

133

133

1308 GILEAD RD

$250,000

$250,000

1650

$152

1/7/09

55

55

3138 MORNINGDALE DR

$242,000

$242,000

1480

$164

1/9/09

52

52

3235 SEABORN DR

$225,000

$200,000

1186

$169

1/29/09

29

29

3142 MORNINGDALE DR

$251,900

$251,900

1530

$165

2/25/09

5

5

Averages

$264,800

$254,211

131

131

* AS OF MARCH 3, 2009. 6

$158

IVY HALL HOMES SOLD SUMMARY The table below summarizes home sales the past 13 months. 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.

2/1/08 thru 2/28/ 09

# OF HOME SOLD

AVG ORIGINAL LIST PRICE

8

$260,531

CURRENT LISTINGS AS OF:

3/03/09

AVG FINAL LIST PRICE

$254,538

NUMBER OF HOUSES LISTED

9

AGE SOLD PRICE

AVG % SOLD / ORIG LIST $

$240,500 92%

AVERAGE ORIGINAL LIST PRICE

$264,800

AVG % SOLD / FINAL LIST $

94%

AVG ORIG LIST $ / SQ FT

$169

AVERAGE CURRENT LIST PRICE

$254,212

AVG SOLD $ / SQ FT

$155

% SOLD $ SQ FT/ ORIG LIST $ SQ FT

92%

AVERAGE ORIGINAL LIST PRICE / SQ FOOT

$165

AVG DOM

AVG CDOM

124

154

AVERAGE CURRENT PRICE / SQ FOOT

$158

CURRENT IVY HALL LISTINGS - SUMMARY The table above provides the following information: number of homes currently listed ( non FSBO ) on the Charleston Trident MLS as of March 3, 2009, 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.gfcharleston.com

SALES AND INVENTORY REPORT - FEBRUARY 1, 2008 - JANUARY 30, 2009 The table below lists by month, home sales in Ivy Hall from February ’08 through January ’09. Details 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.

AVG PRICE PER SQ FOOT

MEDIAN PRICE OF ALL SOLD

AVG DAYS ON MARKET

% SOLD / LIST

HOMES ON MARKET

# MONTH’S INVENTORY *

0

0

0

0

0%

8

0.00

0

0

0

0

0

0%

9

0.00

0

0

0

0

0

0

0%

9

0.00

2

$257,000

$243,500

$162

$243,500

88

95%

10

5.00

2

$257,950

$242,500

$171

$242,500

285

94%

8

4.00

0

0

0

0

0

0

0%

8

0.00

2

$264,700

$251,000

$134

$251,000

23

95%

8

4.00

1

$263,000

$250,000

$156

$250,000

177

95%

7

7.00

0

0

0

0

0

0

0%

10

0.00

0

0

0

0

0

0

0%

9

0.00

0

0

0

0

0

0

0%

10

0.00

January 2009

1

$214,000

$200,000

$150

$200,000

19

93%

11

11.00

Annual:

8

$254,537

$240,500

$155

$243,500

123

94%

9

13.49

MONTH YEAR

TOTAL SALES

February 2008

0

0

0

March April May June July August September October November December

AVG LIST PRICE

AVG SALE PRICE

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.

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