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!
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.
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.
The Charleston Real Team