Tag: Charleston Trident Market
Many sellers and builders are in a good position for financial gains, as the economy continues to favor putting existing homes on the market and building new homes for sale. We are finally beginning to see some upward movement in new listings after at least two years of a positive outlook. There may not be massive increases in inventory from week to week, but a longer-term trend toward more new listings would be a good sign. Low inventory should continue to create a competitive situation for buyers, causing price increases over the next several months.
Market Statistics by Area
Most of 2016 offered the same monthly housing market highlights. The number of homes for sale was drastically down in year-over-year comparisons, along with days on market and months of supply. Meanwhile, sales and prices were up in most markets. Unemployment rates were low, wages improved and, as the year waned, we completed a contentious presidential election and saw mortgage rates increase, neither of which are expected to have a negative impact on real estate in 2017.
Charleston Market Statistics through December 2016
In a report published earlier today in the Charleston Regional Business Journal, 1st Quarter in the Charleston Trident Market resulted in 898 sales, up 4.4%, with median price at $182,240, up 2.5%. To see a list of 1st Quarter sales and prices for the entire state by region/market, read the entire article HERE.