Encouraging Real Estate News from Beaufort County, SC

Beaufort, SC's real estate market has strung together two good quarters in a rows. Could we be gathering momentum? The article below this (Real Estate Rebound in Beaufort, SC) chronicles Beaufort's strong end to 2009. In fact, as you will read, 2009's fourth quarter was the strongest in Beaufort since 2006.

According to the recently gathered first quarter stats, 2010 has also started strong. Home sales in the Beaufort Multiple Listing Service are up 38 percent from 2009, according to MLS stats.

In the first quarter of 2010, 211 homes were sold, compared with 153 during the same time period last year. Better news yet is that homes are selling quicker. The median days on market for 2010's first quarter was 108 days, compared with 141 in 2009.

This also makes 2010 the strongest first quarter since 2007, whcn 244 home sales were conducted via the MLS.

The one casualty from the new numbers is median price. The median home price coming out of the first quarter was $172,000, down about 6 percent from the $182,579 median in the first quarter 2009, a sure sign that foreclosures and short sales continue to impact the market.

The median first quarter home price in 2008 was $184,450.

The biggest surge came in Port Royal, and South of the Broad River. In Port Royal, 22 first quarter home sales were recorded, compared to only 7 in 2009. South of the Broad River, sales more than doubled, from 30 in 2009, to 67 in 2010.

More good news -- The median days on the market for first quarter was 108 days, compared with 141 days in 2009 and 159 days in 2008.

For more information, visit www.ExploreBeaufortRealEstate.com.