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Isle of Palms had 8 single family detached homes sell during November with an average sales price of $736,312 and median price of $516,250. This was one less home than sold in October with a 21% decrease in average sales price and a 29% decrease in median price. The highest priced home sold for $2,500,017 and the lowest priced home sold for $535,000.
The average number of days on market was 199 which was a slight decrease over the previous months DOM of 208. On average, homes sold for 89% of the list price. For every home sold in November, 1.375 homes were newly listed for sale. At the current rate of sale, it would take 39.5 months to deplete the home inventory; six months inventory is considered a balanced market.
One of the homes sold on Isle of Palms in November is located in Wild Dunes and one is located on Goat Island. As of December 18, 2009, there has been a 57.4% increase in sales over the same time period from last year. Isle of Palms currently has 280 single family detached homes actively listed for sale with 26 under contract. Ten homes entered pending sales status during November.
Statistics from Charleston Trident Association of Realtors Multiple Listing Service as of 12/18/09. Numbers represent SINGLE FAMILY DETACHED HOMES sold in November and are deemed reliable but not guaranteed. Median price indicates the point at which half the homes sold for more and half the homes sold for less.
For a detailed market analysis of your home or neighborhood, contact Debbie Donovan at 843-327-6099.
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