Wakendawrealestatereport

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www.gfcharleston.com

APRIL 2009

© 2009 Gooden + Faircloth Real Estate Services

© 2009 Gooden + Faircloth Real Estate Services

APRIL 2009 Wakendaw Lakes is simply a special Mt Pleasant neighborhood, older more established, diverse, lush and lovely. It has long been one of Mt Pleasant’s most desirable neighborhoods. Wakendaw Lakes is actually a series of four separate developments: Wakendaw Lakes, Wakendaw Manor, Wakendaw-on-the-Creek, and Wakendaw East. The area has a rich history having been part of the Woodlawn Plantation, a 300+ acre working farm of pecans trees, acres of fields and over 9,500 head of livestock, mostly hogs. Data for this report has been extracted from the Charleston Trident Multiple Listing Service. I welcome your questions or contact with our group. Thank you. Rebecca Gooden, Broker / Partner 843.822.0131 [email protected] www.gfcharleston.com

© 2009 Gooden + Faircloth Real Estate Services

Wakendaw Real Estate Report Summary

During 2008, a total of 9 home sales ( excluding For Sale By Owners ) occurred in the combined neighborhoods of Wakendaw. There were no homes sold in the Wakendaw-on-the-Creek neighborhood. The average sale price in Wakendaw Lakes was $ 501,557. In Wakendaw Place, 2 homes were sold, at an average sale price of $241,700. The highest priced home sold in Wakendaw over the past 12 months was 683 Libbys Point which sold in February of ’09 for $ 950,000 or $ 211 per square foot. The 4,500 square foot home was initially listed at $ 1,125,000 and was, according to MLS, on the market for zero days. Over the past 12 months, homes which sold had remained on the market an average of 99 days in Wakendaw Lakes and 112 days in Wakendaw Place. The average days on market for homes currently listed in Wakendaw Lakes is 220 days. As of April 8, 2009 there are a total of 11 single family homes on the market in Wakendaw ( non FSBO ), 8 in Wakendaw Lakes, 2 in Wakendaw On The Creek and one in Wakendaw Place. The current average list price in Wakendaw Lakes is $492,038, $707,500 in Wakendaw On The Creek and $238,900 in Wackendaw Place.

© 2009 Gooden + Faircloth Real Estate Services

Wakendaw: Home Sales APRIL 8, 2008 - APRIL 8, 2009 Below, you’ll find real estate sales information for Wakendaw Lakes and Wakendaw Place. There were no homes sold during the past year in Wakendaw On The Creek. 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. Data does not include For Sale By Owner transactions. WAKENDAW LAKES

ORIGINAL LIST PRICE

FINAL LIST PRICE

SOLD PRICE

DATE OF CLOSE

SQUARE FEET

PRICE PER SQ FOOT

DOM

761CHATTER RD

$349,000

$310,000

$285,900

12/11/08

1,827

$156

176

727 GYPSY LN

$365,000

$298,000

$295,000

6/17/08

1,733

$170

390

1321 VAGABOND LN

$439,000

$419,000

$395,000

11/25/08

2,740

$144

82

856 DETYENS RD

$428,000

$428,000

$420,000

7/28/08

2,253

$186

4

1316 BARKSDALE RD

$439,000

$439,000

$425,000

6/9/08

2,400

$177

3

1196 MANOR LN

$940,000

$795,000

$740,000

12/2/08

3,343

$221

41

$1,125,000

$1,125,000

$950,000

2/2/09

4,500

$211

0

$583,571

$544,857

$501,557

$181

99

SQUARE FEET

PRICE PER SQ FOOT

DOM

683 LIBBYS PT

Average WAKENDAW PLACE

ORIGINAL LIST PRICE

FINAL LIST PRICE

SOLD PRICE

DATE OF CLOSE

1287 CHATFIELD ST

$229,900

$229,900

$218,500

12/30/08

1410

$155

184

1229 CHATFIELD ST

$279,900

$279,900

$264,900

8/20/08

1885

$141

40

$254,900

$254,900

$241,700

$148

112

Average

© 2009 Gooden + Faircloth Real Estate Services

Wakendaw: Current Listings The table below lists details for those homes currently listed on the Charleston Trident MLS as of April 8, 2009. Information includes: Address of home, original list price, current list price, square footage, price per square foot, list date, and days on market. WAKENDAW LAKES

ORIGINAL LIST PRICE

CURRENT LIST PRICE *

LIST DATE

SQUARE FEET

PRICE PER SQ FOOT

DOM

679 SEROTINA CT

$325,000

$325,000

3/2/09

2,072

$157

37

711 OSPREY CT

$393,000

$360,000

12/14/08

2,300

$157

115

847 PINE SHADOW

$445,000

$429,000

10/6/08

2,486

$173

543

856 SEROTINA CT

$435,000

$435,000

9/24/08

2,162

$201

195

624 OAK MARSH DR

$460,500

$448,900

1/17/09

2,333

$192

79

684 OAK MARSH DR

$549,900

$529,500

11/15/07

2,728

$194

510

1177 MANOR LN

$679,000

$629,000

7/23/08

2,532

$248

259

1223 MANOR LN

$779,900

$779,900

3/17/09

3,300

$236

22

Average

$508,413

$492,038

$195

220

WAKENDAW ON THE CREEK

ORIGINAL LIST PRICE

CURRENT LIST PRICE *

LIST DATE

SQUARE FEET

PRICE PER SQ FOOT

DOM

665 OAK MARSH DR

$695,000

$650,000

11/18/08

2,841

$229

141

849 TAMARACK CT

$765,000

$765,000

12/20/08

3,990

$192

108

Average

$730,000

$707,500

$210

125

WAKENDAW PLACE

1495 OLD WILLIAMSTON CT

ORIGINAL LIST PRICE

$238,900

© 2009 Gooden + Faircloth Real Estate Services

CURRENT LIST PRICE *

$238,900

LIST DATE

SQUARE FEET

1/2/09

1,406

PRICE PER SQ FOOT

$170

DOM

96

Wakendaw: By Month Sales & Inventory APRIL, 2008 - MARCH 31, 2009 The table below lists, by month, home sales in Wakendaw from April ’08 through March ’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.

MONTH YEAR

TOTAL SALES

Apr-08

1

May-08

0

Jun-08

2

Jul-08

AVG LIST PRICE

AVG SALE PRICE

$349,900 $345,000

AVG PRICE PER SQ FOOT

MEDIAN PRICE OF ALL SOLD

AVG DAYS ON MARKET

% SOLD / LIST

HOMES ON MARKET

# MONTHS INVENTORY *

$169

$345,000

121

99%

7

7

0

0

0

0%

10

0

$368,500 $360,000

$173

$360,000

196

98%

11

6

1

$428,000 $420,000

$186

$420,000

3

98%

9

9

Aug-08

1

$279,900 $264,900

$141

$264,900

39

95%

10

10

Sep-08

0

0

0

0

0

0

0%

13

0

Oct-08

0

0

0

0

0

0

0%

11

0

Nov-08

1

$419,000 $395,000

$144

$395,000

82

94%

9

9

Dec-08

3

$444,966 $414,800

$177

$285,900

83

93%

8

3

Jan-09

0

0

0

0

0%

10

0

Feb-09

1

$211

$950,000

0

84%

11

11

Mar-09

0

0

0

0

0%

11

0

Annual

10

173

$370,000

88

93%

10

12

0

0

0

0

$1,125,000 $950,000 0

0

$467,370 $433,930

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 month’s 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.

© 2009 Gooden + Faircloth Real Estate Services

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