We’ve been working our way through the Charleston Trident Association of Realtors’ area-specific real estate reports since the numbers came out on July 10, and it’s time to take a look at the Daniel Island statistics. Overall, the Berkeley County community is seeing some steady gains this year. Most notably, inventory and new listings are down, and this is creating healthy competition among buyers in the Daniel Island real estate market.
In June 2011, there were 120 homes on the market, and in June 2012, that number is down 25% to 89 homes. So far this year, there have been 140 new listings, down from 154 newly listed homes during the first half of 2011. Despite the smaller inventory and diminished amount of new real estate listings on Daniel Island, the year-to-date number of closed sales has increased from 77 in the first six months of 2011 to 79 so far this year. So even though there are fewer homes to choose from, more homes are selling.
This is driving prices up a bit. Year-to-date median real estate price on Daniel Island has increased by 3.2% from $543,779 in January–June 2011 to $561,167 in January–June 2012. Average sales price is up 5.4% from $648,778 in 2011 to $684,017 in 2012. Days on the real estate market until closing has dropped slightly (-0.7%), and percent of original list price received for single-family homes on Daniel Island has edged up a bit (+0.8%)
The townhome / condo market on DI is looking pretty good so far this year as well, with fewer new listings (-22.9%), but more closed sales (+22.6%) during the first half of 2012. The median year-to-date sales price is $243,000 — up about 10% from the January–June period of last year. The average sales price for a condominium on Daniel Island is $261,728, up more than 12% from last year’s numbers. And attached homes are spending 37% less time on the market than they were last year — only about 119 days instead of 190 days.
Please direct any real estate questions you have to Bob Brennaman. Daniel Island is one of his focus areas, and he has a wealth of knowledge and data on the local market. His phone number is 843-345-6074.