There is more good news for real estate in the Charleston Trident area! Both the Post and Courier and The Charleston Regional Business Journal are reporting real estate sales for the month of September, 2009, saw an increase of 7% year over year.
The breakdown is:
• Berkley County saw 135 transactions closed for a 9% increase. The median sale price was $150,000.
• Charleston County had 259 transactions close which translates to an 11% increase. Charleston County saw improvement in sales in Mount Pleasant below Hwy 41 and in Carolina Bay in West Ashley. The median sales price was $214,000.
• Dorchester County had 164 sales, remaining stable. The median price was $154,000.
The $8,000 Federal Tax Credit for first time home buyers may have been the reason for increased sales. Time is running out for first time home buyers to take advantage of this incentive since it is set to expire on November 30, 2009. October could see another increase in sales as a result.
This is a great market for buyers to take the advantage. Inventories are still over 10,000 units in the Tri-County and the median sales prices for the area are continuing to trend down. Combine that with reasonable mortgage interest rates and the fist time buyers tax credit. It might be your best time to get into real estate, or move up to the home you always wanted.
If you have questions about the market, or just need more information, call us.