Market Update

admin — Sat, 03 Apr 2010 00:16:19 +0000

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.

MLS Stats

admin — Sat, 23 Jan 2010 16:57:34 +0000

Charleston residential market was down about 9% in number of transactions and 9% in price for 2009 versus 2008. That includes SFD, SFA, and mobile homes in the tri-county area. SFD(single family detached) wasn’t quite as bad, down 6% in transactions and 8% in price. In fact SFD inventory has fallen a little to just over 6200. That’s 67% of the overall inventory. On the other hand, SFA inventory has been rising.

Buyer activity as shown by the number of contingents on the hot sheet each week was actually up about 6% in 2009 versus 2008. Short sales kept us from closing more of them though.

Short sales and foreclosures account for 21% of the contingent listings currently on the MLS. And those are just the ones listed correctly under the Special category. There is easily another 4%, making the ss/fc market about 25% of what’s under contract.

Charleston SC Real Estate Blog

Market Update

MLS Stats