Pawleys Island 2nd Quarter Home Values 2015

Posted By Tara Melech @ Jul 14th 2015 8:35am In: South Carolina Real Estate

 

Pawleys Island Single Family Residential Property Statistics

As of July 2, 2015 - These are the most recent market statistics for Single Family Detached Residential properties in Pawleys Island (29585) for the 2nd Quarter of 2015, ending  June 30, 2015. 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 302 72 99
Average Price $673,897 $432,376 (List Price) $374,739
Median Price $539,000 $330,999 (List Price) $315,000

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

Avg 297 / 173 Median 

For Sale  10.39%
Avg Price 2.935%
Med Price 19.77%
DOM 14.23%

Avg 179/136 Median

Pending  10% 
Average Price 19.3%
Median Price  6.36% 

DOM 3.2%

Avg  172/211 Median 

 Sold Properties  23.75% 
Average Sold Price  10.94 %
Avg Med Price  5.00 %
DOM17.31%

 

1 Bedroom 0 0 0
Median Price - - -
Average Price - - -
Days on Market - - -

2 Bedroom 7 2 4
Average Price $302,885 $252,450 (List Price) $173,750
Median Price $229,900 $252,450 (List Price) $172,500

Days on Market

Analysis 2nd Qtr vs.1st Qtr 2015
Inventory (Properties)
Average Price
Median Price
Average Days on Market

Avg 196 / 139 Median

For Sale  = no change
Avg. Price  3.12%
Med Price = no change
DOM 
13.27%

Avg & Median 82

Pending 33%
Avg Price 37.10%
Med Price 32.86%
DOM 4.87%

Average 204/ Median 158

Sold Properties 33.0%
Average Price 0.56%
Median Price 6.75%
Days on Market  64.5%


3 Bedroom 122 46 76
Average Price $381,189 $288,170 (List Price) $291,767
Median Price $342,450 $294,450 (List Price) $276,000
Days on Market

Analysis 2nd Qtr vs. 1st Qtr 2015
Inventory (Properties)
Average Price
Median Price
Avg Days on Market (DOM)

Avg 224 / 133 Median

For Sale  16.44%
Avg Price  6.04%

Med Price  1.01%
DOM 20.43%

Avg 160 / 136 Median

Pending
  6%
Avg Price  7.4%
Med Price  3.31%
DOM 3.75

Avg 157/ 117 Median

Sold Properties  90%

Average Price 11.39%
Median Price  14.29%
DOM 1.9%


4 Bedroom 97 13 24
Average Price $667,968 $423,104 (List Price) $390,310
Median Price $549,500 $389,000 (List Price) $376,350
Days on Market

Analysis 2nd Qtr vs. 1st Qtr 2015
Inventory (Properties)
Average Price
Median Price
Avg Days on Market (DOM)

Avg 306 / 193 Median

For Sale 10.18%
Avg Price 6.658%
Med Price 1.76%
DOM 15.9%

Avg 186 / 97 Median

Pending  31.58%
Avg Price  17.56%
Med Price ⇑ 3.76%
DOM 7.92%


Avg 181/101 Med

Sold Properties 0.43%
Average Price 20.75%
Med Price 14.74%
DOM 33.70%


5 Bedroom 55 8 7
Average Price $1,090,916 $1,054,500 (List Price) $768,513
Median Price $879,000 $488,050 (List Price) $427,500
Days on Market
Analysis 2nd Qtr vs. 1st Qtr 2015
Inventory (Properties)
Average Price
Median Price
Average Days on Market

Avg 353 / 181 Median

For Sale 12.24 %
Avg Price 2.04%
Med Price 0.57%
DOM 1.9%

Avg 299 / 251 Median


Pending  ⇔ n/c

Avg Price 57.61%
Med Price  5.69%
DOM   9.94%

Avg 196/137 Median

 Sold Properties  22.3
Average Price 8.23%
Median Price 16.99%
DOM 32.87%


6 Bedroom 17 2 2
Average Price $1,460,029 $1,330,000 $1,435,000
Median Price $950,000 $1,330,000

$1,435,000

Days on Market

Analysis 2nd Qtr vs. 1st Qtr 2015
Inventory (Properties)
Average Price
Median Price
Avg Days on Market

Avg 497 / 180 Median

For Sale 15.0%
Avg Price 11.92%
Med Price 22.05%
DOM 8.75%

Avg 304/304 Median

Pending
Avg Price 33.13 %
Med Price 33.13%
DOM  50.49%

Avg 156/156 Med

Sold Properties 50.00%
Average Price 19.09%
Median Price 2.09%
Days on Market


7 Bedroom 3 1 1
Average Price $2,226,333 $774,000 $695,000
Median Price $1,985,000 $774,000 $695,000
Days on Market
Analysis 2nd Qtr vs. 1st Qtr 2015
Inventory (Properties)
Average Price
Median Price
Avg Days on Market

Avg 587 / 242 Median

For Sale 57.14%
Avg Price 41.25%
Med Price 28.15%
DOM 24.19%

Avg 253 / 253 Median

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

Avg 71

Sold Properties ⇔ no change
Avg Price 38.39%
Med Price 38.39%
Days on Market 230%

 

8 Bedroom 1 0 0
Average Price $975,000 - -
Median Price $975,000 - -
Days on Market 166 - -


 

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:

Overall - The second quarter values and 1st half of the year are showing significant improvement in sold inventory when comparing to last year 2014. When comparing the average sold price from 2014 to the first half of 2015, sold prices are up by $15,000, showing a strong start to 2015.  The sold has increased, but inventory has not gone up.  If the inventory does not increase, then the average price will keep increasing; therefore pricing out some individuals.  The inventory and amount of days on market is somewhat of a deceiving picture in the Pawleys Island area, as there is some "stale" inventory, making the amount of days on market seem longer than what is compared to the "new" inventory.  In other words, the homes that are ready to sell, in good condition and priced to sell - is the inventory that is moving.  The inventory that is not moving seems to be those with repair issues, cosmetic issues, or not priced according to condition .  

Moving into the 3rd quarter of 2015, pending properties are at about 80.5% of what closed in the 4th quarter.  This should increase over the next three months, as well as the pending price index, currently at an increase of 4.28% The average amount of time on the market is showing a slight increase.  The amount of time on the market should decrease this first quarter as the inventory is showing slight movement in the active properties for sale. 2015 should prove to be interesting and depending on factors such as mortgage rates an inventory, it should trend in the upward sold pricing.

 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!

The Pawleys Island Residential Market maintains its steadiness, 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 increasing at a slower pace, but moving faster every day - all in all - a healthy market, and more of an equal market between buyers and sellers.


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