First Quarter 2016 Residential Sales Review

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By Everett Ballenger

Screen Shot 2016-05-18 at 11.33.13 AMLast year’s first quarter numbers were mostly ahead of 2014, so will we continue to see the trend in 2016 – for the five main areas we normally cover? Looking at the stats below, overall it seems like the trend continues on the upward direction. There are some dips in actual unit sales in Mossy Oaks and Port Royal. Beaufort was same as 2015, but Burton and Ladys Island surged ahead some 40% over the year before. Total unit sales were up 24%, with the average price up just + 0.4% and the median selling price up + 8.4%. Total sales volume was up a healthy +11% from the previous year.

The first quarter of 2016 seems to be following a pattern we have seen over the last 2-3 years. The Northern Beaufort County real estate market is in a “steady as she goes” mode. A mode I think we can all agree is a welcome sight and one we should all be comfortable with. To give some perspective of today’s market for the 5 areas we monitor, it was 2007 the last time 200 units were sold in the first quarter.  Even though the market has picked up significantly over the last three years, there are still some excellent real estate deals to be had, across the price spectrum but it should not be assumed they will remain available forever.

Everett Ballenger is the owner/B.I.C of Ballenger Realty and the former President of the Beaufort County Association of Realtors.