With the mid-point of 2009 just passing us, I thought it was an appropriate time to evaluate what has taken place in the Beaufort SC real estate market for the first six months.  The below charts will also provide an comparison of this year versus last.  What most people will focus on is total sales but there is more to read into these numbers that just sales.

The fact is this year is significantly down in completed home sales compared to last year.  With sales in 2008 at 447 and 2009 at 355, this year’s total sales are down a whopping 20%.  Not good at all.  No matter what spin you put on it, the current year has been a far worse real estate year that last.  While there's no way for even the most eternal optimist to finagle those numbers, there are some pricing statistics that give reason for a positive future.

When taking a look at 2008 vs. 2009 you can see home prices are significantly down.  They are down and continue to decline.  This a very important aspect as the old saying "Price sales" is very true.  Last years average home sold price came in at $293,692 while this year’s sold price is $255,987.  The difference is 12% and with the winter months ahead, you can expect that number to rise.  That equates to people buying less expensive homes and a drop in the area's house price.

I see the reduction in home prices as a positive forecast for the future.  The past few years have brought Beaufort home prices I have felt are way overpriced.  Lately there have been some fantastic deals hit the market which had not been seen in a while.  Of course they were swooped up quickly but it does show there are bargains to be had.

If you are wondering how to get that steal when it hits the market, it is simple.  Just get a local Realtor to add you to the automated MLS listing e-mail list.  New daily listing will be sent directly to you on the day the home is listed.  It's a great way to beat the competition to a great deal.

Well this report wasn't all bad but things in 2009 certainly haven't been stellar.  Let's home price continue to drop and the economy will rebound sometime in the not to distant future.

Beaufort 2009 Homes Sold Stastics

Beaufort 2008 Homes Sold Stastics

Todd Covington is the owner of Lowcountry Properties and a member of the ERA Evergreen Real Estate Company.  Todd specializes in the Coosaw Point real estate market.  For the most accurate Beaufort SC MLS search, please visit LowcountryProperties.com.