Founder Vince Graham on I’On’s market performance:

While the slow housing market has affected every area of Mt. Pleasant and Charleston, I’On continues to outperform both the region as a whole, and those neighborhoods that are our closest competitors. Between 2005 and 2007, sales transactions dropped 25% in Mt. Pleasant; 30% on Daniel Island; 32% in the Old Village; 40% on Sullivan’s Island; 44% on the peninsula south of U.S. 17, and 55% on the Isle of Palms. The number of sales transactions in I’On, however, dropped by only 12% during that same time period. Over the last year, more than twice as many homes sold in I’On as on Sullivan’s Island and roughly the same number of homes sold in I’On as on the entire Isle of Palms.

In addition, I’On’s market share in Mt. Pleasant has increased over the past three years, going from 6.1% in 2005 to 7.14% in 2007. Morris Square is doing equally well, with a very impressive market share in the peninsula of 10%!

With regard to Mixson, the number of sales transactions was only down 14% in the North Charleston area south of 526–this is not bad, compared with other areas. It increases my confidence in the location we’ve chosen for Mixson.

To conclude, yes, the market has slowed considerably, but shelter will always be a fundamental human need, and there will always be a demand for new homes. We are meeting that demand by delivering a high quality product in a professional manner. The neighborhoods we are involved in designing, building, marketing, and selling are outperforming the market as a whole.

Filed under: I'On Group, I'On Real Estate, I'On Village, Mixson, Morris Square on January 10th, 2008