Charleston SC Real Estate Blog

The market is hot in certain areas as the short sales and bank owned properties are being released. Prices are dropping and interest rates are still incredibly low allowing for some steals! The time is almost here when we will see many more people jumping back in to the market and it is the leaders who invest first that will ultimately come out ahead when the all around market returns to normal. One key indicator for a good deal is the tax assessed value vs asking price. If the asking price is lower then the tax assessed value or even better, half that price, you are probably looking at a good deal! I see a lot of homes out there asking less then replacement cost which again is a good indicator of a good deal. Give me a call if you have any questions or would like some insight into some great deals.

Dustin

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Residential Real Estate Sales Increase Again, Median Prices Remain Stable

Preliminary data from the Charleston Trident Association of REALTORS® (CTAR) shows 509 homes sold in the Charleston region in February, at a median price of $179,900. This reflects a 22% increase in sales and essentially no change in median sale price from preliminary numbers reported on March 10, 2009, which showed 417 sales at a median sale price of $179,450.
As of March 10, 2009, CTAR year-to-date data showed 851 sales at an average median sale price of $177,052. This year, CTAR has recorded 940 sales at an average median sale price of $185,500. Year-to-date numbers show a 10% increase in sales and median sale prices are a slight 5% higher than this time last year.

At the close of the month, there were 9,532 homes actively listed for sale with the Charleston Trident Multiple Listing Service, a 4% increase from last month, when there were 9,171 homes on the market.