About dunes properties of Charleston

dunes properties of Charleston is a real estate, vacation rental and property management company representing the Lowcountry with almost 80 exclusive Charleston beach vacation rental properties, 70 real estate agents and employees, four full-service offices. Nobody knows the Charleston Coast better.

Isle of Palms Office

1400 Palm Boulevard
Isle of Palms, SC 29451
843.886.5600

Real Estate Inquiries:
realestate@dunesproperties.com
Vacation Rental Inquiries:
vacations@dunesproperties.com


Folly Beach Office

31 Center Street
Folly Beach, SC 29439
843.588.3800

Real Estate Inquiries:
realestate@dunesproperties.com
Vacation Rental Inquiries:
vacations@dunesproperties.com


The Real Estate Studio

214 King Street
Charleston, SC 29401
843.722.5618

Real Estate Inquiries:
realestate@dunesproperties.com
Vacation Rental Inquiries:
vacations@dunesproperties.com


Kiawah Seabrook Office

1887 Andell Bluff Boulevard
Johns Island, SC 29455
843.768.9800

Real Estate Inquiries:
realestate@dunesproperties.com
Vacation Rental Inquiries:
vacations@dunesproperties.com


Trigger
Open
Open
Open
Join Our Mailing List
Open

Tag: Market Statistics

Charleston Area Market Stats through May 2018

Market Stats

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 Stats

Market Stats

Market Statistics by Area

Charleston Area Market Stats Through February 2018

Charleston Area Market Stats

Last year, U.S. consumers seemed to be operating with a renewed but cautious optimism. The stock market was strong, wages were edging upwards and home buying activity was extremely competitive. Not much has changed in 2018 in terms of those measures, yet there is a sort of seasoned prudence mixed into the high emotions that go with a major expense like a home purchase. We are now several years deep into a period of rising prices and low inventory. Those in the market to buy a home have caught on. As sellers attempt take advantage of rising prices, expect buyers to be more selective

Closed Sales + 7.6% |  Median Sales Price +7.5% | Inventory -16.7%

Charleston Area Market Stats

 

Charleston Area Market Stats through January 2018

Charleston Area Market Stats through January 2018

Charleston Area Market Stats show the number of homes for sale, days on market and months of supply were all down in year-over-year comparisons in a majority of the country for the entirety of 2017, as was housing affordability. And although total sales volumes were mixed, prices were consistently up in most markets. Buyers may not benefit from higher prices, but sellers do, and there should be more listing activity by more confident sellers in 2018. At least that would be the most viable prediction for an economic landscape pointing toward improved conditions for sellers.

Unemployment rates have remained low throughout 2017, and wages have shown improvement, though not always to levels that match home price increases. Yet housing demand remained incredibly strong in 2017, even in the face of higher mortgage rates that are likely to increase further in 2018. Home building and selling professionals are both cautiously optimistic for the year ahead. Housing and economic indicators give reason for this optimism, with or without new federal tax legislation.

Closed Sales + .5% |  Median Sales Price +10.1% | Inventory -18.9%

Charleston Area Market Stats

 

Charleston Area Market Statistics Through October 2017

Market Statistics

Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving.

Last year at this time, the national storyline was about how high demand was propping up sales and prices despite low inventory and months of supply. That has actually continued to be a familiar refrain for many months in 2017 and now for the past couple of years. But with the likes of Hurricanes Harvey and Irma, different employment outlooks, disparate incomes, varying new construction expectations and potential housing policy shifts, regional differences are becoming more prevalent and pronounced.

Closed Sales  -12.6% |  Median Sales Price  +5.5% | Months Supply  -20.9%

Market Statistics by Area

Charleston Market Statistics Through August 2017

Market Statistics

How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller’s market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase.

Market Statistics by Area

Charleston Market Statistics through March 2017

Charleston Market Statistics through February2017

We can comfortably consider the first quarter to have been a good start for residential real estate in 2017. There was certainly plenty to worry over when the year began. Aside from new national leadership in Washington, DC, and the policy shifts that can occur during such transitions, there was also the matter of continuous low housing supply, steadily rising mortgage rates and ever-increasing home prices. Nevertheless, sales have held their own in year-over-year comparisons and should improve during the busiest months of the real estate sales cycle.

The U.S. economy has improved for several quarters in a row, which has helped wage growth and retail consumption increase in year-over-year comparisons. Couple that with an unemployment rate that has been holding steady or dropping both nationally and in many localities, and consumer confidence is on the rise. As the economy improves, home sales tend to go up. It isn’t much more complex than that right now. Rising mortgage rates could slow growth eventually, but rate increases should be thought of as little more than a byproduct of a stronger economy and stronger demand.

Charleston Market Statistics through February2017

Daniel Island  |  Downtown Charleston  |  Folly Beach

Greater North Charleston  |  Kiawah Island  |  Johns Island

James Island  |  Isle of Palms/Wild Dunes  |  Lower Mount Pleasant

West Ashley  |  Upper Mount Pleasant  |  Upper Charleston Peninsula

Sullivans Island   |  Seabrook Island

Charleston Market Statistics Through February 2017

Market Stats blog image
The start of the year ushered in a wave of good news about a hot stock market, higher wages and an active home sales environment. At the same time, housing prices have continued to rise, and the low inventory situation and affordability crunch has been particularly hard on first-time buyers struggling to get into the market. Nevertheless, buyer activity is easily outpacing seller activity in much of the country, culminating in relatively quick sales and low supply. Demand definitely remained strong this month.
Closed Sales + 14.9% |  Med. Sales Price + 1.8% | Months Supply – 27.9%

Charleston Market Statistics through January 2017

Charleston Market Statisticss thru  Jan 2017
Charleston Market Statistics Show January Home Sales Exceed 1k For The First Time in A Decade!  
January brings out a rejuvenated crop of buyers with a renewed enthusiasm in a new calendar year. Sales totals may still inevitably start slow in the first half of the year due to ongoing inventory concerns. Continued declines in the number of homes available for sale may push out potential buyers who simply cannot compete for homes selling at higher price points in a low number of days, especially if mortgage rates continue to increase.
Wages are on the uptick for many Americans, while unemployment rates have remained stable and relatively unchanged for several months. The system is ripe for more home purchasing if there are more homes available to sell.
Closed Sales + 5.9% |  Median Sales Price + 9.9% | Months Supply – 27.9%

Charleston Market Statistics Through December 2016

Charleston Market Statistics

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

Charleston Market Statistics Through November 2016

Charleston Market Sattistics Through November 2016

According to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR) 1,243 homes sold in November in the region at a median price of $243,000. In November 2015, 1,039 homes sold at a median price of $247,000.

Year-to-date figures show 16,216 homes sold at a median price of $240,000 in our area. Comparing year-to-date figures from 2015, sales volume has increased by 9% and buyers are paying 6.5% more for homes in the region than they did last year, which adds about $15-20,000 to the purchase price in the most active price ranges ($200-350k).
Inventory has remained consistently almost 20% lower than it was throughout 2015. There are 5,119 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service as of November 30.  That figure is not expected to vary much over the winter months.

Market Stats through November 2016

line