Plantation Lakes - CAROLINA FOREST REAL ESTATE
Hello from the Willis Team, there is a lot going on today with real estate in Myrtle Beach and we wanted to let you know what is going on in Plantation Lakes, according to the CCAR MLS.
Homes
Year to date through 9/30/2007 there have been 20 homes sold at an average price of $547,594. They sold at 91.79% of original price and were on the market for an average of 205 days. Last year for the same time period there were 17 homes that sold for an average of $592,124. They sold at 98% of asking price and were on the market for an average of 138 days. | Lots
There were 34 lots sold through 9/30/2007 versus 41 for the same time period last year. The lots sold for 88% of original price this year which was an average sold price of $173,128 versus 92% of original price last year with an average sold price of $179,340. The average days on market for lots has increased by 23 days this year going from 124 days to 147 days. |
Even though this may not look good, Plantation Lakes has actually performed much better than other neighborhoods around the beach. I feel this is because Plantation Lakes is still a highly sought after community. With the recent drop in interest rates, and the banks getting more control on their credit losses, we should start seeing more progress. Since the interest rate decline we have already started to see more positive news which will have a positive impact on the real estate market.
Remember we live in the 5th fastest growing metroplex in the United States and the #1 beach in the US according to Yahoo Travel.
If you have any questions on this or any other community in the area please feel free to contact us.
