James Island Real Estate News: Builders Left in the Cold

A new tax credit for first time home buyers of up to $8,000 that’s being included in the economic stimulus package was far less than the homebuilding industry had expected. Some builders holding real estate on James Island were disappointed that the original amount of $15,000 was not passes by the Senate.

Struggling homebuilders already looking ahead to the traditional spring selling season had been counting on Congress to help spur pent-up sales after completing the worst year for homes sales since 1982.

With the proposal gone, Wall Street analysts said the homebuyer provision will have a negligible effect on homebuilder’s fortunes.

To read the full article from the Post and Courier:

http://www.charleston.net/news/2009/feb/13/builders_left_cold71602/

For More information on James Island Real Estate or Long-Term Rentals contact Jay Tracey Broker/Owner of Exit Realty The Tracey Group.

James Island Real Estate Market Sales Report

February 25, 2009 Month-to-Date

13 James Island properties sold for the Month of February. The average and median price for James Island held in $300,000. 23 West Ashley properties sold in February with an average and median price holding in $200,000. 3 properties on Folly Beach closed, while holding the highest average and median prices at $465,833 and $475,000. 9 Johns Island properties sold and the area held the higest listing price to final sales ratio at over 97%.

AREA	SALES	AVG PRICE	MED PRICE	% OF LIST	AVERAGE DAYS ON MARKET	HOMES FOR SALE
West Ashley	23	$203,219	$200,000	96.85%	115	802
James Island	13	$301,231	$310,000	92.46%	96	534
Folly Beach	3	$465,833	$475,000	91.82%	248	275
Johns Island	9	$230,464	$231,375	97.44%	75	304

 

James Island Real Estate

James Island Real Estate for Sale - Homes for Sale in James Island SC. You can also search for homes in these market segments, James Island Entry Level Homes, James Island Median Homes, James Island Upscale Homes, James Island Luxury Homes,and James Island Lots and Land in James Island SC. SC Real Estate for Sale in surrounding towns and communities, such as: Folly Beach, Summerville, James Island, Johns Island, West Ashley, and Charleston SC.

James Island Entry Level Homes less than $200,000	James Island Median Homes between $200K and $350K	James Island Upscale Homes between $350K an $700K
James Island Luxury Homes priced over $700K	James Island Lots and Land for Sale	Johns Island Homes for Sale

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