Pawleys Island 1st Quarter Home Values 2014

Posted By Tara Melech @ Apr 9th 2014 9:25am In: Pawleys Island Market Statistics Residential

 

Pawleys Island Single Family Residential Property Statistics

As of April 9, 2014 - These are the most recent market statistics for Single Family Detached Residential properties in Pawleys Island (29585) for the 1st Quarter of 2014, ending  March 31, 2014. The number of days on the market for the active and pending properties are also calculated as of the same quarter end date.  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 (such as Myrtle Beach, Litchfield Beach, or Heritage Plantation) you are interested in, or just fill out the Market Statistics Request Form at the bottom of this page.  This report does not include modular or manufactured homes.

Analysis (see notes below chart)

 Active PropertiesPending PropertiesSold Properties
Total Detached 304 47 59
Average Price $659,516 $401,507 (List Price) $425,613
Median Price $454,500 $340,000 (List Price) $315,000

Days on Market

Average 342 / 170 Median Avg 206 / 156 Median Avg 230 / Med 178
1 Bedroom 0 0 0
Median Price - - -
Average Price - - -
Days on Market - - -

2 Bedroom 2 1
Average Price $248,460 $156,500 (List Price) $144,900
Median Price $179,900 $156,500 (List Price) $144,900
Days on Market

Average 133/ 103 Median

154 45

3 Bedroom 135 24 30
Average Price $372,559 $308,951 (List Price) $278,913
Median Price $329,900 $282,450 (List Price) $267,500 
Days on Market Average 257 / 152 Median Avg 222 / 145 Median Avg 183/ 156 Med

4 Bedroom 99 17 18
Average Price $667.000 $389,000 (List Price)+ $381,161
Median Price $499,900 $349,000 (List Price)+ $340,000
Days on Market Average 307 / 173 Median Average 186 / 86 Median Avg 287/245 Med

5 Bedroom 36 5 7
Average Price $1,064,347 $863,780 (List Price)- $757,075
Median Price $794,250 $880,000 (List Price) $390,000
Days on Market

Average 489 / 182 Median

Average 182 / 161 Median Avg 291/290 Med

6 Bedroom 14 1 2
Average Price $1,501,999 $829,000 $2,100,000
Median Price $1,300,000 $829,000

$2,100,000

Days on Market Average 642 / 383 Median Average 426 / 426 Median Avg 268 / 268 Med

7 Bedroom 8 0 1
Average Price $1,589,531 - $238,500
Median Price $1,462,500 - $238,500
Days on Market Avg 418 / 331 Median - 257

8 Bedroom 3 0 0
Average Price $2,198,000 - -
Median Price $2,000,000 - -
Days on Market Avg 2150 / Median 3051 - -
9 Bedroom 0 0 0
Average Price $- - -
Median Price $- - -
Days on Market - - -
14 Bedroom 0 0 0
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:

Overall - the Pawleys Island Residential Market seems to be shadowing the primary markets throughout the rest of the country.  Because the area is considered to be a discretionary market, or shadow market of primary markets, it is slowly increasing at a slower pace, but all in all - it is turning into a healthy market.  It is now becoming more of an even market between buyers and sellers.  There is still an oversupply of properties on the market, which may still affect the price (increases) of a property.  

Categorically speaking, most properties decreased the amount of time on the market, and the active inventory increased from 295 properties to 304 (virtually unchanged).  The biggest change in the market was the 4 bedroom category.  The median prices and average prices increased by almost 20%, where as the amount of time on the market has decreased by an average of 53 days! 

I am still analyzing the data, so please be on the lookout for the latest information.  Will update as soon as possible....



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