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Connie, Both Buyer and Seller in North Carolina

Have selling prices for homes in Summerville, SC increased or decreased? Also, 3 questions about the

Asked by Connie, North Carolina Tue Mar 25, 2008

Summerville, SC neighborhood called Legend Oaks Plantation: Is it a good neighborhood? Have home prices declined in this neighborhood? IF so, is that a bad reflection on this neighborhood or just the economy?

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6
Hi Connie,

Great question! I don't think statistics from 2006 and 2007 are much help, so let me give you the most recent info.

From 1/1/2010 to 12/31/2010 72 homes sold in Legend Oaks at an Average sales price of $246,000 and were on the market for an average of 84 days

From 1/1/2100 to today 79 homes have sold in Legend Oaks at an Average sales price of $230,000 and were on the market for an average of 87 days

That being said, prices are down, mostly due to the number of short sales and foreclosures in the area. The positive thing is the market here is stable and the average days on market for a home to sell is still around the same. The number of homes sold year to date compared to the entire year last year has already surpassed last years sales. Legend Oaks is a great neighborhood, but I do agree with the other posting, that the homes on or closer to the golf course are nicer and "quieter". My opinion is it's 100% the economy affecting the prices, the neighborhood is great!
Web Reference: http://www.carolinaone.com
1 vote Thank Flag Link Sun Sep 25, 2011
Legend Oaks is a very popular neighborhood. Unfortunately, it grew quickly during the peak of the marekt rise and most homes sold for inflated prices. Now, as owners cannot sell their homes for what they owe, the bank it taking the homes back or they are being sold as short sales. It is still a popular neighborhood and homes at the reduced prices are selling well.
Web Reference: http://www.jeffbowers.com
0 votes Thank Flag Link Wed Jul 1, 2009
This neighborhood has been on the decline since subprime mortgages became the norm. New homeowners have no idea how to behave in a country club/golf course community and do not maintain their yards. Prices are down considerably. If you would still like to live in the neighborhood ,stay away from the newest part of the neighborhood, chose from the homes available near the course. Foreclosures are numerous.
0 votes Thank Flag Link Mon May 11, 2009
Legend Oaks is a great place to Own a home. This is a Country Club community with a great Golf Course, Club house, Tennis, etc. Home values have reduced some, primarily because of the economey and the Mortgage Crunch. Home prices were rising too fast anyway and the market has been going through an adjustment causing prices in general to decline a little and level off.
According to the latest market info., sales declines were continuing through January. In Feburary, the market turned and we had an increased of approx.5 percent. There is every indication that this trend will continue. Now is the best time to buy.
0 votes Thank Flag Link Mon Mar 31, 2008
Connie,

In the Greater Charleston-Trident area last year, we experienced an increase in the median price of a home while many other markets experienced a decrease. The market continues to adjust and of course is currently very favorable to buyers. Legend Oaks is a great area in Summerville with a fantastic school district and great amenities - golf, tennis, swimming, etc. The neighborhood also features homes in a variety of sizes and styles built from the mid 1990's to new construction as recent as 2006.

In 2007, 181 home were sold in Legend Oaks at an average price of $284,786; compared to 2006 when 254 homes were sold in Legend Oaks at an average price of $279, 414.

Thus the prices have not seen an average decrease. Instead, we are seeing sellers price their homes more reasonably and buyers buy homes at prices that are an appropriate reflection of their true market value.

Please visit my website below for more information about my business and to search all homes available in Summerville. We offer ABR accredited buyer services/representation and would love to help you get in a new home in Legend Oaks at a price that will meet your financial needs.

Sincerely,

Jim Grady
The Charleston Real Team
(843) 460-4939
0 votes Thank Flag Link Wed Mar 26, 2008
It's a great time to be interested in buying in Summerville, SC. High inventory has forced sellers to control their thoughts of overpricing and is keeping the market competitive. Nice interest rates are helping the sales market as well. Legend Oaks Plantation is a fantastic neighborhood offering country club style living. Amenities include: swimming pool, tennis, and golf membership. Any decline in pricing to Legend Oaks homes is affected by the economy not by the neighborhood itself.
Web Reference: http://www.laurasargent.com
0 votes Thank Flag Link Tue Mar 25, 2008
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