Real estate firm reports positive sales results

The article below was published in the Daily Journal of the Charleston Regional Business Journal. I am not sure if Daniel Island Real Estate is upset with my report because it shows the number of transactions down, days on market getting longer, monthly sales down from last year and inventory higher than last year. There is an old saying, "What is, is." I am happy that Daniel Island Real Estate had a record year in sales volume. I have clients that are looking to buy out there right now.

For the record I love Daniel Island and played golf out there two weeks ago. I have many friends who have purchased homes on the island.

All I do with the Charleston Market Report is put the facts out there for the public to see them. I stress buyers and sellers get with qualified Real Estate Agents so they can determine the proper strategy for buying or selling their home. Period, end of story.

Real estate firm reports positive sales results

By Daily Journal Staff

Despite extensive national and regional media coverage about the changing real estate market last year, Daniel Island Real Estate concluded 2006 with a sales volume of $236 million, surpassing the previous year’s volume of $232 million.

Last year marked the company’s second best year since it kicked off residential real estate sales on the island more than 10 years ago and was the company’s highest-grossing year for single-family home sales.

“This is an extraordinary accomplishment, considering the market correction that our area and the entire country experienced last year,” said Dan Kingsbury, broker-in-charge and vice president of sales for the real estate company. “There are very few communities locally—or nationally, for that matter—that can report such positive sales results for 2006. It’s a real testament to the combined appeal of Charleston as a destination and the lifestyle that the master-planned community on Daniel Island affords.”

The announcement came only a few weeks after local real estate trend analyzer Brad Rundbaken released his fourth quarter report for 2006. Daniel Island experienced an increase in the number of days homes stayed on the market, a decreased number of homes sold, a decreased inventory and decreased sales prices, according to the Charleston Market Report. The average home sold for $827,072, a 5% drop compared to $870,699 in fourth quarter 2005, the report showed.

The real estate company’s average transaction increased 8% in 2006 to $662,185, according to Daniel Island Real Estate. While the Charleston area experienced a steep 31% monthly decline in transactions in December, the company reported December as its second strongest month of 2006, with a 33% increase over transactions compared to December 2005, according to the company.