Having just passsed the halfway mark in the year, I thought it would be helpful to compare the number of properties sold in the McClellanville / Awendaw area in previous Q1 and Q2 periods to see how this year is stacking up. As you can see in the graph, we are off to a great start, even exceeding sales numbers from 2005 and 2006 when the market was red hot. This May accounted for 21 of the 65 total proper- ties sold, the single highest month of sales ever for the area. By mid-June we had already sur- passed the year-end sales numbers in 2007-2013. The phones are ringing off the hook at MCVL Realty and we’re staying very busy showing land and homes across all price ranges. At the time of publishing, MCVL Realty had 5 properties under contract. Daniel Bates wrapped up Q1/Q2 period leading all other agents in terms of sales volume for properties sold in McClellanville / Awendaw region and represented nearly a third (32.6%) of the total sales volume of properties sold in McClellanville alone.
Factors attributing to the growth include a rallying stock market, low interest rates, and recovering economy and jobs market. We are also starting to see Generation Y (people born from the early 1980’s through early 2000’s) buyers start to set their sites on the area for the first time. The largest driving force however has been the incredible growth of neighboring Mt. Pleasant. What we are finding is not so much the people who are moving to the area now, but those who moved to Mt. Pleasant previously are escaping this ongoing growth and looking to get into a more rural market where they can enjoy less traffic, larger lots for gardening and pets, get more for their money, and be closer to outdoor activities on the water or in the forest all within an easy commuting distance to work in the “city”.
Sellers – Whether you are ready to list or still getting things ready, give us a call to discuss your property and how we can market it best for a sale that meets your needs. A lot of buyers are looking for turn-key homes right now, but we have had success moving fixer-uppers with sound strategies and excellent marketing. Interest in land has risen sharply in the past year, if you’ve been sitting back waiting for your property values to rebound, now may be the time.
Buyers – Create a list of “must-haves” and a list of “want-to-haves” and a budget. We can show you the properties which match that description and keep you updated on new arrivals the instant they come on the market so you don’t miss an opportunity. Buyers who have gotten accustomed to moving at their own pace to see properties are finding that some are selling before they have a chance to take a look. Land prices have been stable for the past year, but as supply of attractive properties declines and buyer activity builds, I definitely see those prices starting to move upward. Decisive buyers are making fair offers and getting the properties they want before the best deals are gone.
Renters – With the same inventory of homes for rent and a 10 fold increase in demand over the last few years, finding a rental in the area is becoming nearly impossible. I keep a waiting list of of active renters, but pets or a small budget puts you at the back of the list for land- lords looking for a tenant willing to pay top dollar (often putting 2 months rent up front as a deposit) and keep their home in top notch condition. Talk with a lender candidly about your finances and see if there are any programs which will allow home ownership instead of renting.