Mount Pleasant, SC has had one of the strongest performing real estate markets in the tri-county area due to its great public schools, large selection of newer homes for sale in neighborhoods with full amenities, upscale atmosphere, and close proximity to Downtown Charleston and two of the best beaches (Isle of Palms and Sullivan’s Island).
In the past 10 years, the appreciation on Mount Pleasant homes for sale has seen a 43% increase in the sold dollar volume, and remember that this percentage takes into account the housing market down turn. The average sales price has gone up 31% in this 10 year time frame, and the median is only 1% higher. Before 2013, the number of Mount Pleasant homes sold (2,354) had not been as strong since 2005 when that number was 2,928. When comparing the past decade, 2013 was the second highest year in the number of homes sold – and this includes years that were the absolute height of the market.
To put these statistics into perspective, the total Charleston County real estate market had only a 5% increase in sold dollar volume over the same 10 year period (2004 to 2013), an average sales price increase of 11%, and a median sales price increase of 18%.
From an investment standpoint, it’s easy to see why Mount Pleasant homes for sale have a track record of providing a good return on the investment. And when you also take into account that, for most people, a home is the single largest investment they will make in their lives, Mt. Pleasant has historically proven to be a safe yet strong investment for its appreciation.
Now, let’s look at more recent trends for Mount Pleasant. Last year saw a 31.4% increase in the number of homes closed compared to 2012, with a total of 2,354 homes sold. Comparing 2013 to 2011, that’s a 61.2% surge in sales. You’ll also see the chart for closed sales volume, which is measured by increments of $1 million. For 2013, Mt. Pleasant saw a 49.7% jump compared to 2012 and a 77.2% jump when looking at the 2011 stats.
About Lee Keadle
Twelve years ago when I started out as a real estate agent in Charleston, Mount Pleasant was not one of my specializations. However, over the years, the steady demand from home buyers for this suburb meant that if I wanted to be a good and knowledgeable agent, I needed to learn the area inside and out.
Now, after selling over a hundred homes in Mount Pleasant, I can walk in just about any house listed and know what the home should be worth, which other homes in the neighborhood have a similar/better/lesser layout, and how the home compares to comparably priced homes either currently for sale or homes that have recently sold in the past months. Knowing what buyers want is the key to any successful real estate business, and it’s been this steady demand that’s made Mount Pleasant one of my top specializations over the years.