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Isle of Palms had 8 single family detached homes sell during September with an average sales price of $666,531 and median price of $586,625. This was the same number of home sales as July with a 31% decrease in average sales price and a 22% decrease in median price. The highest priced home sold for $1,250,000 and the lowest priced home sold for $499,000.
The average number of days on market was 99 which was a decrease over the previous months DOM of 243. On average, homes sold for 92% of the list price. For every home sold in August, 2.375 homes were newly listed for sale. At the current rate of sale, it would take 42.6 months to deplete the home inventory; six months inventory is considered a balanced market.
Five of the homes sold on Isle of Palms in September were located in Wild Dunes. As of October 14, 2009, there has been a 66.66% increase in sales over the same time period from last year. Isle of Palms currently has 310 single family detached homes actively listed for sale with 19 under contract. Twelve homes entered pending sales status during September.
For a detailed market analysis of your home or neighborhood, contact Debbie Donovan at 843-327-6099.
Statistics from Charleston Trident Association of Realtors Multiple Listing Service as of 9/22/09. Numbers represent SINGLE FAMILY DETACHED HOMES sold in August 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.
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Today's Rates:
| 30-yr Fixed | 5.01% | 5.17% | | 15-yr Fixed | 4.4% | 4.63% | | 1-yr Adj | 4.22% | 5.24% |
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