Good morning,
These two charts show us where we've been over the past several years and where there seems to be encouraging optimism for the future, given a strong start in 2012.
One of the two charts shows the decline in home values based on price per square foot from the same 6 month period in 2006 compared to 2011 for all the sub geographic areas of the Tricounty as set up in our Multiple Listing System. On average, the decline for our area is approximately 30% from the height of the real estate boom when compared to the same April through September period of 2011.
The second chart highlights the strong showing we have had in sustained home sales (homes going under contract) of over 200 units per week of single family detached homes in the Tricounty region. We have seen a steady fall off of inventory over the past year which has not yet resulted in overall appreciation of value for our region, but has resulted in a stablization of values for most of the area. Note: all figures in the charts are derived from the Charleston Association of Realtors Multiple Listing System.
Hope you find these numbers as interesting as I do and that they instill hope for a start to recovery for our local real estate market.
Sincerely,
Jim Hall
AgentOwned Realty
1800 Old Trolley Rd.
Summerville, SC 29485
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