Pawleys Island 4th Quarter Home Values 2014

Posted By Tara Melech @ Jan 7th 2015 3:15pm In: Pawleys Island

 

Pawleys Island Single Family Residential Property Statistics

As of January 7, 2015 - These are the most recent market statistics for Single Family Detached Residential properties in Pawleys Island (29585) for the 4th Quarter of 2014, ending  December 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 324 62 78
Average Price $641,748 $461,055 (List Price) $359,797
Median Price $425,000 $319,500 (List Price) $275,000

Days on Market

Average 289 / 138 Median

Inventory ↓ 5.8% 
Avg. Price ↓ 1.9%
Median Price ↓ 3.29%

Days on Market ↓ 2.4%

Avg 206/143 Median

Pend Properties ↓ 4.6%
Avg. Price ↑ 4.28%
Median Price ↑ 7.03%

Days on Market ↑ 9.5%

Avg 176 / Med 142


Sold Inventory ↑ 5.4%
Avg Sold Price ↓ 7.1%

Avg Med Price ↓ 4.18%
Avg Days on Market ↓4.34%

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

2 Bedroom 9 1 2
Average Price $305,355 $185,000 (List Price) $169,000
Median Price $200,000 $185,000 (List Price) $169,000
Days on Market

Average 243/141 Median

Inventory ↑ 28%
Avg Price ↑27.74%
Median Price ↓ 4.3 by %
Days on market ↓ 43.7% 

Avg 74

Inventory ↔ 

Avg Price ↑ 23.41%
Days on Market ↓ 60.6%

Average 41/ Median 41

Inventory Sold ↔ 
Avg Price ↑ 29.75%
Days on Market ↓ 66%


3 Bedroom 147 29 54
Average Price $359,304 $261,465 (List Price) $295,246
Median Price $338,000 $239,900 (List Price) $273,750
Days on Market

Avg 175 / 127 Median

Inventory ↓ 7.5%
Avg Price ↓ 2.3%

Median Price ↓ 0.4%
Days on Market ↓ 8.8%

Avg 168 / 132 Median

Inventory ↓ 30.9%
Avg Price ↓ 10.58%
Med Price ↓ 13.3%
Days on Market ↓ 18.8%

Avg 179/ 135 Med
Inventory ↑ 35%
Average Price ↑ 13.74%
Median Price 8.43↑

Days on Market ↑ 5 %


4 Bedroom 96 18 14
Average Price $589,904 $481,394 (List Price) $433,559
Median Price $504,950 $359,500 (List Price) $405,000
Days on Market

Average 304 / 149 Median


Inventory↔%
Avg Price ↓ 3.49%
Med Price ↑ 3.45%
Days on market ↑ 4.8%

Average 198 / 172 Median

Pending Inventory ↓ 25%
Avg Price ↑ 5.7%
Med Price ↓ 8.3%
Days on Market ↑ 14.4%

Avg 152/161 Med

Sold Inventory ↓ 48%
Avg Price ↓ 4.7%
Med Price ↓ 26.9%
Days on market ↓ 17.4%


5 Bedroom 47 9 7
Average Price $1,154,348 $684,877 (List Price) $756,871
Median Price $939,900 $629,900 (List Price) $434,000
Days on Market

Average 424 / 232 Median

Inventory ↓17.5%
Avg Price ↑ 3.5%
Med Price ↑ 7.4%
Days on Market ↓ 2%

Average 356 / 411 Median

Pending Inventory ↑ 28.5%
Avg Price ↓ 21%
Med Price ↓ 36%
Days On Market ↑ 82.5%

Avg 176/183 Med

Sold Inventory ↑ 75%
Avg Price ↑ 4%
Median Price ↓ 38.4%
Avg days on market ↑ 56%


6 Bedroom 14 4 1
Average Price $1,902,107 $1,197,225 $415,000
Median Price $1,643,250 $1,199,500

$415,000

Days on Market

Average 541 / 157 Median

Inventory ↓ 22.2%
Avg Price ↑ 21.57%
Med Price ↑ 25.2%
Days On Market ↓ 0.5%

Average 259 / 161 Median

Avg 605/605 Med
Sold Inventory↔%
Avg Price ↓ 85%
Med Price  ↓ 85%
Days on Market ↓50%


7 Bedroom 4 1 0
Average Price $1,577,475 $1,200,000 -
Median Price $1,184,500 - -
Days on Market

Avg 369 / 84 Median

Inventory ↓ 33%
Avg Price ↑ 2.6%
Med Price ↓ 7.46%
Days On Market ↓ 9.77%

Avg 32 / 32 Median

-
No Change

8 Bedroom 2 0 0
Average Price $1,850,000 - -
Median Price $1,850,000 - -
Days on Market Avg 3324 / Median 3324 - -
9 Bedroom 1 0 0
Average Price $1,650,000 - -
Median Price $1,650,000 - -
Days on Market 628 - -
 

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 4th Quarter home values were steady dropping a mere 7% in sold inventory when comparing to the 3rd quarter. The  current pending properties (due to close), offering prices are up by 4.28%, showing a strong start to 2015.  The sold inventory increased by 5.4% since 3rd quarter.  The average amount of time on market is still steadily decreasing, showing a 4.34% drop in sold inventory (or an average of 176 days on the market), and a 2.4% decrease in current listed properties.

Moving into the 1st 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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