Homes Fort Mill SC

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It’s time for local home sales comparison reports. September 2008 home sales in Tega Cay SC were actually pretty good. Homes sold are up. And the sold price to listing price ratio is holding strong and up a percentage point. Days on the market increased slightly.

Here is the spreadsheet comparing the September year to year comparisons in Tega Cay SC.

Picture version

Text Version

I do want to point out (more…)

It’s time for local home sales comparison reports. September home sales in Baxter Village were not bad when you look at homes sold compared to listing or asking price. Days on the market increased significantly and the homes sales transactions are down but a little better than the 30 plus percent down for the Charlotte metro market.

Here is the spreadsheet comparing the September year to year comparisons in Baxter Village

Picture version

Text version

I do want to point (more…)

It’s time for another home sales report for Tega Cay SC. I pulled numbers together for home sales August 1 through October 1, 2007 and the same time period 2008 to make the year to year comparison.

I decided to use data from the two MLS systems representing our area. I pulled data from the Charlotte and Piedmont MLS (both have properties listed that are unique to only their system so to get true numbers I had to combine them).

Tega Cay Home Sales Report Oct 1 2008

Tega Cay Market Snapshot (text version)

Aug 1^st to Oct. 1 2007

# of homes sold 37

Average Original List Price 328K

Average Sold Price 315K

% List to Sold Ratio 96%

Days On Market 87

Home sold price categories

Under 350K— 26

350-400— 4

401-500— 1

500+– 6 Three water front, one anchorage water view, two lake shore regular lots.

Aug 1^st to Oct. 1 2008

#of homes sold 25

Average Original List Price $337K

Average Sold Price $308K

% List to Sold 91.5%

Days On Market 139

Home sold price categories

Under 350K — 20

350- 400 —- 2

401- 500 —- 0

500+— 3 One custom new construction, others water front

Observation- (more…)

The South Carolina Realtors Association has published their home sales MLS data for the first half of the year. Below are homes sales including condos and villas for the Piedmont region which includes York, Lancaster, and Chester counties (includes Fort Mill, Tega Cay, Lake Wylie, Rock Hill).

First Quarter Home, Condo, and Villa Sales Comparisons

JAN-MAR 2007—JAN-MAR 2008

957 Homes…………..701 Homes

A 26.75% decrease from last year

Median Price of Home, Condo, or Villa

$154,000…………….$145,000

A 5.83% decrease from last year.

Second Quarter Home, Condo, and Villa Sales Comparisons

APR-JUN 2007—APR-JUN 2008

1104 Homes…………..872 Homes

A 21.01% decrease from last year

Median Price of Home, Condo, or Villa

$174,000…………….$158,000

A 9.20% decrease from last year

YTD Home, Condo, and Villa Sales Comparisons Thru July 15^th 2008

YTD  2007———–YTD  2008

2454 Homes………….1830 Homes

A 25.4% decrease from last year

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I created a home sales comparison report for Tega Cay South Carolina. The report compares 2007 homes sales in Tega Cay to the current year 2008 for the first two quarters. I also gave you a peek at how August home sales stack up against last year. Here is my sales report:

MARKET SNAPSHOT 2007 Vs. 2008

First Quarter Sales Comparisons

JANUARY-MARCH 2008——–JANUARY-MARCH 2007

SOLD- 27 Homes…………………………. SOLD- 52 Homes

AVERAGE LIST PRICE- $272,469 ……. AVERAGE LIST PRICE- $339,565

AVERAGE SOLD PRICE- $268,359 ….. AVERAGE SOLD PRICE- $336,220

AVERAGE DAYS ON MKT- 114 ………..AVERAGE DAYS ON MKT- 78

% LIST TO SOLD- 98% ………………….. % LIST TO SOLD- 99%

DECLINE IN SALES PRICE- 20%
DECLIEN IN # OF HOMES SOLD – 41%

Second Quarter Sales Comparisons

APRIL- JULY 2008 ————APRIL- JULY 2007

SOLD- 41 Homes ………………………….SOLD- 69 Homes

AVERAGE LIST PRICE- $323,977 ……..AVERAGE LIST PRICE- $340,272

AVERAGE SOLD PRICE- $312,553…….AVERAGE SOLD PRICE- $334,384

AVERAGE DAYS ON MKT- 99…………..AVERAGE DAYS ON MKT- 79

%LIST TO SOLD- 97% …………………….%LIST TO SOLD- 98%

DECLINE IN SALES PRICE- 6%
DECLINE IN # OF HOMES SOLD- 27%

Here is a look at the trend in August so far:

AUG. 1- AUG. 23 2008 ——- AUG.1 – AUG. 23 2007

SOLD- 7 Homes …………………………. SOLD- 9 Homes

AVERAGE LIST PRICE- $327,928 …… AVERAGE LIST PRICE- $325,355

AVERAGE SOLD PRICE- $315,300 …..AVERAGE SOLD PRICE- $318,752

AVERAGE DAYS ON MKT- 101………. AVERAGE DAYS ON MKT- 70

%LIST TO SOLD- 96% ………………….. %LIST TO SOLD- 98% (more…)

What features help sell your home faster? What features are more desirable to a buyer and bring you more bang for the buck?

The National Association of Realtors® gathered information from over 2500 home buyers nationally that purchased a home in 2007. Repeat buyers placed more importance than first-time buyers on almost all home features.

Here are some of the highlights of the survey:

• The most important feature was central air-conditioning. 74% of the respondents listed central air as very important.  A very important feature surviving the summers in Tega Cay, SC.    
• Next in line was a garage with 2 or more spaces.  This was the most significant change between the NAR’s 2004 survey to the 2007.

Other important features were:

• Walk-in closets in the master bedroom which was ranked higher by older buyers
• Backyard or play area which was more important to younger buyers
• Hardwood floors
• Granite countertops.
• Cable or satellite TV readiness.
• High-speed Internet access.

Respondents said they would pay more for a home that has:

• waterfront property, a no brainer for our area in my opinion.
• Oversized garages.
• Central Air.

 90 percent of the respondents said energy efficiency was important in a buying decision. I bet energy efficiency will now rank higher in future surveys.  

The typical home purchased during the survey period was 12 years old, 1,840

square feet in size, and had three bedrooms and two bathrooms. The national median price was $205,000.

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I have had many request to see the change in home sales data for Tega Cay from this year to last.  So here is the latest info. 

Single Family homes had a 37.5 % drop in the number of home sold to last year. It is now taking on the average 153 days to sell a home which is approximately a 34% increase in days. The good news is the selling price to listing price ratio only changed 4% and is still in the 90′s.

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Current 30 Year Fixed rates are hovering around 5.75% but can easily range between 5.5% and 6.5% depending on credit score and loan program. ARM pricing is still bad but it is getting better. The 7/1 ARM rates are about the same as 30 Year fixed rates. It should get to about a 1% lower than the 30 Year Fixed before people will take it.

100% Programs

These programs are vanishing quickly. (more…)