3rd Quarter Home Value Statistics 2016

Posted By Tara Melech @ Oct 18th 2016 10:00am In: Pawleys Island

Pawleys Island Single Family Residential Property Statistics

As of October 15, 2016 - These are the most recent market statistics for Single Family Detached Residential properties in Pawleys Island (29585) for the 3rd Quarter Year of 2016, ending September 30, 2016. If you would like information on a specific area, please contact me at your convenience, with the subject as market statistics and naming the area you are interested in, or just fill out the Market Statistics Request Form at the bottom of this page. For a particular neighborhood, call me at (843) 907-8787. This report does not include modular or manufactured homes.

Analysis (see notes below chart)

Active Properties Pending Properties Sold Properties
Total Detached 282 62 93
Average Price $747,672 $429,143 (List Price) $441,270
Median Price $492,450 $328,045 (List Price) $314,000

Days On Market
Analysis 2016 2nd Qtr 2015 1st Qtr
Inventory (Properties)
Average Price
Median Price
Average Days on Market (DOM)

Avg 228 / 141 Median 

For Sale  +0.71%
Avg Price -0.66%
Med Price -0.31%
DOM +1.3%
Need more

Avg 157/117 Median

Pending +17.3% 
Average Price +0.58%
Median Price +4.14% 

DOM -9.2%
IMROVING

Avg  163/  Median 99

 Sold Properties +6.89% 
Average Sold Price +4.88%
Avg Med Price -7.37%
DOM +18.5%
94.8% of asking price
IMPROVING

 

1 Bedroom 0 1 0
Average Price - $205,000 -
Median Price - $205,000 -
Days on Market - 79 -

2 Bedroom 2 1 6
Average Price $294,000 $249,900 (List Price) $252,450
Median Price $294,000 $249,900 (List Price) $263,600

Days on Market

Analysis 2nd Qtr to 3rd Qtr 2016
Inventory (Properties)
Average Price
Median Price
Average Days on Market

Avg 133 / 133 Median

For Sale -40.0%
Avg. Price +13.1%
Med Price +13.1%
DOM +95.5%

Avg 108/Median 108

Pending -66.0%
Avg Price -10.64%
Med Price -12.31%
DOM -47.0%

Average 150/ Median 93

Sold Properties +50.0%
Average Price +10.56%
Median Price +28.58%
Days on Market +17.0%
Stable


3 Bedroom 110 32 51
Average Price $375,665 $345,610 (List Price) $302,350
Median Price $329,950 $321,477 (List Price) $289,000
Days on Market

Analysis 2nd Qtr to 3rd Qtr 2016
Inventory (Properties)
Average Price
Median Price
Avg Days on Market (DOM)
Listing Price

Avg 162 / 121 Median

For Sale +3.7%
Avg Price -3.5%

Med Price -2.6  %
DOM +4.5%

Avg 125 / 117 Median

Pending -23.8
%
Avg Price +20.0%
Med Price +11.2%
DOM -0.7%

Avg 123/ 78 Median

Sold Properties = +24.3%

Average Price -1.87%
Median Price +1.4%
DOM -34.9%
STABLE


4 Bedroom 100 24 27
Average Price $718,355 $412,003 (List Price) $567,726
Median Price $597,500 $353,552 (List Price) $370,000
Days on Market

Analysis 2nd Qtr to 3rd Qtr 2016
Inventory (Properties)
Average Price
Median Price
Avg Days on Market (DOM)

Avg 252 / 131 Median

For Sale -2.9%
Avg Price -1.9%
Med Price -10.25%
DOM -5.6%

Avg 151 / 113 Median

Pending +14.2%
Avg Price -13.66%
Med Price -1.76%
DOM -7.9%
STABLE


Avg /Med

Sold Properties -15.6%
Average Price +14.59%
Med Price -16.2%
DOM %


5 Bedroom 45 3 7
Average Price $1,196,392 $1,151,800 (List Price) $722,142
Median Price $899,000 $1,250,000 (List Price) $575,000
Days on Market
Analysis 2nd Qtr to 3rd Qtr 2016
Inventory (Properties)
Average Price
Median Price
Average Days on Market

Avg 262/ 211 Median

For Sale -9.7 %
Avg Price 7.8%
Med Price -21.8%
DOM -3.3%

Avg 560 / 569 Median


Pending -62.5%

Avg Price +58.17%
Med Price +112.0%
DOM +26.9%

Avg 332/175 Median

 Sold Properties -12.5%
Average Price +6.3%
Median Price -15.78%
DOM +23.6
STABLE


6 Bedroom 16 1 2
Average Price $1,313,775 $319,500 $719,000
Median Price $967,500 $319,500

$719,000

Days on Market

Analysis 3r1st Qtr 2016 vs. 1st Qtr 2015
Inventory (Properties)
Average Price
Median Price
Avg Days on Market

Avg 241 / 132 Median

For Sale  14.28%
Avg Price -5.096 %
Med Price +6.318%
DOM  15.438%
STABLE

Avg 54/54 Median

Pending = no change
Avg Price +32.02%
Med Price +32.02%
DOM -18.18%
INCREASE

Avg 148/148 Med

Sold Properties 
Average Price ⇓
Median Price ⇓
Days on Market ⇑
INCREASE


7 Bedroom 7 0 1
Average Price $1,860,071 - $562,500
Median Price $1,749,000 - $699,000
Days on Market
Analysis 1st Qtr 2016 vs. 1st Qtr 2015
Inventory (Properties)
Average Price
Median Price
Avg Days on Market

Avg 472 / 224 Median

For Sale = no change%
Avg Price -1.89 %
Med Price +4.42 %
DOM 15.68%

Avg/ Median

(new stat, none sold last qtr)
Pending
Avg Price
Med Price
DOM

Avg 212

Sold Properties -
Avg Price -%
Med Price -%
Days on Market -%
INCREASE

 

8 Bedroom 3 0 0
Average Price $2,558,333 - -
Median Price $2,225,000 - -
Days on Market 109 - -


 

9 Bedroom - - -
Average Price - - -
Median Price - - -
Days On Market
 

I always appreciate the opportunity to gain your trust as your local real estate expert. Statistics by Tara Melech, The Litchfield Company (843) 907-8787

 ANALYSIS:
On average the 3rd quarter of 2016 shows improvement. The 3rd Quarter proved to have stamina in price, up by 12.5% but still needs improvement in the amount of inventory for sale, down by almost 10%.    In addition, the average amount of time on the market increased by 23.6%%, The average asking price vs. the sold price for  the 3rd quarter was less than a 5% difference, indicating that the current average pricing of housing is within reasonable asking prices. 
If you are interested in selling your property, then it is likely your home will be sold in 6 months or less during the 3rd and 4th quarter of 2016.  As always, this is dependent on location and condition matching the price based on the market.  Finding the right Realtor is key for marketing the house correctly.  Call me today to schedule the analysis of the home you want to buy or sell today.  I promise, I don't bite!  (843) 907-8787

In conclusion, if you are looking to buy or sell a property in Pawleys Island, it is a very good time to do so.  the property depends on price and condition. I have seen the trends in the Pawleys Island area with buyers, that they are looking for minimal cosmetic work - upgrades will serve to be a good investment in selling your home. It is extremely important that the property be in top shape for the most out of the market. If this is not possible, then the pool of buyers may decrease. However, pricing could increase that pool, as long as it is priced according to the market AND condition. If you should have any needs or want to sell or buy your next property, call me at (843)907-8787. It is my goal to market and get your home sold in YOUR timeframe with YOUR goals. 

 If you want to sell your home, I can help. It is more important than ever to have a Realtor that knows not only the area you are interested in, but also the home values, as it can change so quickly, and no two markets are the same.  

Thank you for taking the time to read this and I hope to hear from you soon!

Pawleys Island is overall a healthy real estate market, and currently more;equal between buyers and sellers.


Share on Social Media:

Comments have been closed for this post.
Please contact us if you have any questions or comments.