The Charleston Real Estate Advisor

See If your Charleston Home Qualifies of the Federal Loan Modification Program

Need help with your Charleston home mortgage?  Do you want to see if you are eligible for the federal government's loan modification program?   Here is the government's website on loan modification.  Once at the site, click on the "Find out if You Are Eligible" button for a short assessment.
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Stono Ferry May 2009 Real Estate Market Update

May 2009 Stono Ferry
Homes Sold

Address              Original List Price        Sold Price        Sold/List Ratio
5163 Stablegate             $555,000            $260,000            47%    

4765 Stono Links            $495,000            $325,000            66%

4773 Stono Links            $672,000            $463,000            69%

May 2009 Statistics
 For
Stono Ferry Homes, Townhomes and Lots

    * Stono Ferry Homes For Sale:   16 ( 3 New Listings for May)
    * Stono Ferry Homes Under Contract: 0
    * Stono Ferry Homes Sold: 3

    * Stono Ferry Ironwood Townhomes For Sale:  13(1 New Listing for May) 
    * Stono Ferry Ironwood Townhomes Under Contract: 0
    * Stono Ferry Ironwood Townhomes Sold: 0

    * Stono Ferry Lots For Sale:   23 (1 New Listing for May)
    * Stono Ferry Lots Under Contract: 0
    * Stono Ferry Lots Sold: 0

(Source: CTAR Statistics.. Reliable but Guaranteed)

For the month of May 2009 we saw 3 Stono Ferry homes sell.   The inventory of Stono Ferry active homes is now at 16 homes. All the homes sold for under $500,000 and their average original list price to sales price ratio was approximately 60%.  The impact of distressed property values can be seen in these sales numbers.

Land sales remain dormant with the last lot selling in Stono Ferry over 16 months ago.   One more lot came of the market increasing the inventory to 23 lots for sale in Stono Ferry.  Stono Ferry land sales mirrors the Charleston market for land, with no building going on there is low demand for lots.

Ironwood townhomes had 3 more units come on the market increasing inventory to 13 units.  None of the Ironwood townhomes went under contract or sold during May.