2015 has come to an end, and now it’s time to review what’s going on with the Moncks Corner real estate market. The median sales price had a 13.2% increase over 2014, to just over $200,000. This is primarily driven by new construction though in Moncks Corner. The median price on new construction is $224,000, while on resales is only $172,000, ultimately though the new construction helps the prices of home around it.
The median price per square foot for Moncks Corner SC
The median price per square foot, on sold homes, has also seen an increase of 5.7% to $93 per square foot, which is a little behind the Charleston market as a whole but moving in the right direction.
The average days on market for Moncks Corner SC
One great indication of an improving market for Moncks Corner is the average days on market, before receiving a contract, with a 44% change, the average days on market is down to 41.
Total number of sold home in Moncks Corner SC
In 2015 there were 720 closed transactions in Moncks Corner, up 22.4% from 2014, this shows a lot of growth and many new developments have ramped up new construction. Some of the most popular include Foxbank Plantation, Spring Grove Plantation, and Moss Grove Plantation, which account for 40% of all sales in Moncks Corner!
In total, $142,000,000 in real estate was sold in Moncks Corner in 2015, a 33% increase from 2014. Explosive growth in new construction is driving up the prices and in the next 5 to 10 years you can expect to see a continual growth in the Moncks Corner area. It’s one of the few areas surrounding Charleston with plenty of land to still be developed.
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