August at a Glimpse

  • There were 16 residential closings for $11.7 million in Charleston inside the Crosstown in August, 2010 versus 23 for $12.9 million last August.

Year to Date

  • YTD there have been 187 closings for $143.9 million versus 145 closings for $120.3 million last year.
  • So far this year, the price of the average sale is $769,397 versus $829,606 last year.

This is still a good time to buy real estate.  There is a good level of selections, sellers are motivated, and interest rates are still low.

The Future

  • Fiserv and Moody’s predict that real estate prices in the US will increase by 7.2% between the first quarter of 2010 and the first quarter of 2014.  They predict the price of real estate in the Charleston area will appreciate 19.6% over that period.

Dave Landry