Steady Wins the Race with No End
The best word to describe the real estate market for the Old Village subdivision in 2016 is steady. The market has remained very strong this year in comparison to 2016 as the sales are almost identical. In 2015 this sought after area produced 53 sales with a high of $4,900,000 and a low of $295,000. 2016 numbers were incredibly close as there were 52 closed homes with a high of $4,576,000 and a low of $245,000. While it might look like a slight decline in market activity, the average price per home sold as risen. There were 20 homes that sold for 7 figures in 2015 but that already impressive number climbed to a whopping 25 this year. This subdivision has one of the highest price per home sold averages in the area with the highest average of 7 figure closings. Its no secret that The Old Village is the place to be and that quality homes do not last long in this thriving market. 22 out of 52 homes sold in 2016 were on the market for a month or less with half of them being sold in a week or less. Because of this neighborhood's desirability and steady growth of this hot market, a lot of folks are most likely choosing to wait until the market hit its peak before listing their homes. There's no telling when that day will come, but until then we should expect to see less activity in this subdivision than the many others where homes are selling in the $400-500K. 2016 was a phenomenal year for the Old Village real estate market and 2017 should be no different. Except the average price per home to climb and the average number of days on market to decrease. This market is on fire and there is no flood in the world that can put it out. For more information on Mt. Pleasant market conditions, general real estate inquiries and all things Old Village contact Pat Gallant at 843-790-4PAT!