Pawleys Island 4th Quarter Market Statistics

Posted By Tara Melech @ Jan 16th 2013 12:00pm In: Market Statistics

 

Pawleys Island Single Family Residential Property Statistics

These are the market statistics for Single Family Detached Residential properties for the 4th Quarter of 2012, ending  December 31, 2012. The number of days on the market for the active and pending properties are also calclulated as of December 31, 2012.  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 or a specific neighborhood) you are interested in, or just fill out the Market Statistics Request Form at the bottom of this page.  This does not include modular or manufactured homes.

 Active PropertiesPending PropertiesSold Properties
Total Detatched 295 31 58
Average Price $742,820 $345,882 (List Price) $395,360
Median Price $469,900 $295,000 (List Price) $283,750

Days on Market

Average 381 / 174 Median Avg 176 / 107 Median Avg 227/160 Med
1 Bedroom 0 0 0
Median Price - - -
Average Price - - -
Days on Market - - -

2 Bedroom 2 0 2
Average Price $199,000 $ $129,000
Median Price $199,000 $ $129,000
Days on Market 53.5 - 266

3 Bedroom 128 14 28
Average Price $393,548 $277,408 (List Price) $258,128
Median Price $328,950 $272,700 (List Price) $237,350
Days on Market Average 282 / 135 Median Avg 149 / 98 Median Avg 171/ 154 Med

4 Bedroom 95 14 18
Average Price $634,985 $349,544 (List Price) $463,077
Median Price $529,000 $297,000 (List Price) $502,000
Days on Market Average 379 / 220 Median Average 136 / 99 Median Avg 261/117 Med

5 Bedroom 44 3 8
Average Price $1,351,786 $648,333 (List Price) $444,362
Median Price $1,062,500 $625,000 (List Price) $447,500
Days on Market

Average 516 / 268 Median

Average 497 / 607 Median Avg 320/283 Med

6 Bedroom 16 0 2
Average Price $1,584,250 - $1,777,500
Median Price $1,532,500 -

$1,777,500

Days on Market Average 632 / 295 Median Med -/- Avg Avg 293/293 Med

7 Bedroom 6 0 0
Average Price $2,160,650 - -
Median Price $2,174,950 - -
Days on Market Average 375 / 503 Median - -

8 Bedroom 2 0 0
Average Price $2,297,000 - -
Median Price $2,297,000 - -
Days on Market 2587 - -
9 Bedroom 1 0 -
Average Price $2,900,000 - -
Median Price $2,900,000 - -
Days on Market 108 - -
12 Bedroom 1 0 0
Average Price $2,750,000 - -
Median Price $2,750,000 - -
Days on Market 126 - -
 

Analysis

  • The original asking price vs current asking price dropped by an average of 12.31%
  • The sold price vs current asking price dropped by an average of 8.06%
  • The sold price vs original asking price dropped ay an average of 19.38%
  • When these statistics are averaged the asking (both original and current) dropped by an average of 13.72%
  • The average price per heated square foot sold was $153.52.
  • The average price per total square foot (heated and unheated) $118.92
  • Two or 3.45% were bank owned properties, with the asking price vs sold price difference of 5.71%. Bank owned properties received 94.29% of asking price at time of sale, and 89.27% of original asking price. When these are factored together, an average price drop of 8.22% from asking vs. sold is calclulated
  • One or 1.72% were hud properties, with the asking price vs sold price INCREASING by 4%
  • Three or 5.17% were potential short sale properties, and asking price vs sold price decreased by 1.43%. If calculated by original asking price the decreased by 20.23%
  • One or 1.72% were lender approved short sale properties, with the asking price vs sold price decrease of 30.77%. 

When comparing the 4th quarter of 2011 to 4th quarter of 2012, the average sales price increased by an average of 27.54%, up from $310,000 to $395,360 Depending on what happens with the fiscal cliff - right around the corner - projections indicate stability in prices, drop in foreclosures and short sales, slight decrease in inventory, and the days on the market averaging around the same as the 4th quarter 2012.  Indicators would suggest that it is still a good time to purchase property, and for a great price.



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