Sunday, August 30, 2009

Selling Your Home or Property at Lake Murray?

Selling Your Home or Property at Lake Murray?
Contact Mel Coker.

I am a life-long resident of Columbia and have been living on Lake Murray now for the past 7 years in the Chapin area.  I know Lake Murray!

I provide unmatched Internet marketing for listings for sale on the lake.  As Columbia's exclusive CyberStars Realtor, I always work to provide the best use of technology in marketing my listings.   Some of the technology that I utilize includes: virtual tours on multiple web domains and platforms, RealBird virtual tours, Animoto virtual tours, and the ownership of a Lake Murray website and Lake Murray Blog.

Mel's Featured Real Estate Websites for Your Home Listing
Mel Coker's Columbia Real Estate Website  |  About Mel Coker
Columbia SC Selling Tips

Tuesday, August 25, 2009

Lake Murray lot listing

NEW Lake Murray Waterfront Lot Listing

I've got a NEW Lake Murray lot listed for sale in the Prosperity area. It's only about 12 minutes from Chapin. It's an AFFORDABLE Lake Murray lot! Buy your lot now and build when you're ready. I can assist with an excellent builder referral.

Highlights for this Lake Murray lot:

Call Mel Coker to BUY or SELL any property on Lake Murray. I'm a Lake Murray homeowner - I know Lake Murray! Call (803) 388-8011.

Sunday, August 9, 2009

Lake Murray Sales Update - Waterfront Lots

An Update from Mel Coker
Lake Murray Waterfront Lots

I've just finished a detailed analysis of Lake Murray waterfront lots closed during the past 5 years and current sales activity. Buying a lot on Lake Murray is still a very viable option to enjoy lake living. One of my clients bought a lake lot last year and started building their dream Lake Murray home just this past week with my recommended builder.

For my analysis, the "average" Lake Murray lot is: less than 1.5 acres, has a minimum of 100 feet of water frontage. Also, my base year for minimum price is 2004 at $75,000. The average minimum price has been adjusted each each for the previous year price change percentage. I've even tracked average discount from final list price for sales prices.
(For average prices and number of sales, percentage changes are from previous year; average days on market includes 25% adjustment for expireds and withdrawns)

Number of sales: 44 DOWN 12.0%
Average price: $183,813 UP 22.6%
Avg. DOM: 381
Avg. discount from final list price: 5.87%

Number of sales: 85 UP 93.2%
Average price: $204,994 UP 11.5%
Avg. DOM: 276
Avg. discount from final list price: 5.26%

Number of sales: 79 DOWN 7.1%
Average price: $217,391 UP 6.0%
Avg. DOM: 215
Avg. discount from final list price: 6.0%

Number of sales: 61 DOWN 22.8%
Average price: $246,145 UP 13.2%
Avg. DOM: 168
Avg. discount from final list price: 5.1%

Number of sales: 30 DOWN 50.8%
Average price: $276,096 UP 12.2%
Avg. DOM: 262
Avg. discount from final list price: 10.1%

2009 (thru June 30)
Number of sales: 13 DOWN 13.3%
Average price: $251,262 DOWN 9.0%
Avg. DOM: 422
Avg. discount from final list price: 10.8%

Currently, there are 184 lots for sale on Lake Murray (meeting my criteria above) with an average sales price of $336,502. The average days on market is 434 days. Obviously, the asking price for many lots is way too high based on the much higher price compared to actual closings over the last several years, a very high DOM and the large number of lots for sale.

Other important highlights:
  • the number of lots closed annually has decreased the past 3 years and is on pace to decrease again in 2009.
  • average closed prices in 2009 are showing the possible first ever price decrease on Lake Murray
  • there is enough current inventory at Lake Murray to last app. 7 years at the current sales pace

NOW may be the time to BUY your Lake Murray lot! When you're ready to BUY or SELL a Lake Murray lot, be sure to contact Mel Coker. I am a lake resident and I know Lake Murray!

Buy a lot, get on Lake Murray.


Sunday, August 2, 2009

Mel's Welcome to Lake Murray Video

I'm starting videocasting with my first Lake Murray video!

Lake Murray video in HD!

Thanks to my videographer, Kelly Coker!