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31 Center Street
Folly Beach, SC 29439

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11 Fulton Street
Charleston, SC 29401

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1887 Andell Bluff Boulevard
Johns Island, SC 29455

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835 Coleman Blvd Ste. 200
Mount Pleasant, SC 29464

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Tag: market stats

Charleston Area Market Statistics Through March 2016

BlackbirdNational housing trends, like the steady rise in home prices and decline in inventory, should certainly be observed with care, but tracking wider economic conditions is also necessary. Employment figures are positive, wages are going up and employers are hiring.  Buyers want to get into the market, but unlike the rising-price sales environment of ten years ago, people are not diving headlong into risky mortgages or uncomfortable situations. This carefulness should be celebrated, not feared.
The Charleston market is definitely booming. New Listings were up 8.6 percent. Pending Sales increased 24.8. But overall Inventory shrank 20.2 percent. Demand is present but an abundance of choice is not. Prices moved higher as Median Sales Price was up 5.6 percent and Days on Market decreased 10.8 percent. Months Supply of Inventory was down 32.7 percent to 3.5 months.
Consumers seem to be holding for the right deal, even in the face of extremely low mortgage rates. As seller and builder confidence increases, we should see more activity in Q2 2016. The second quarter tends to rank as the best time to list a home for sale. – According to Charleston Trident Association of Realtors

Market Stats through March 2016

Charleston Area Market Statistics Through February 2016

iStock_000024405439_LargeInventory Keeps Charleston Residential Real Estate Market Tight; Prices And Sales Continue To Grow

1,088 homes sold in February in the region at a median price of $236,484 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). In February 2015, 1,012 homes sold at a median price of $212,500. This data reflects a 7.5% increase in sales volume and 11% growth in median price, comparing last February to this February.

Year-to-date figures show 2,054 homes sold in 2016 at a median price of $227,750 in the region. Comparing 2015 figures to 2016 thus far, year-to-date sales volume has increased 7.6% and median price has grown by 7.7%.

Inventory has declined by 21% over the last 12-month period, with 5,055 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) as of March 10.

Charleston Area Market Statistics through February 2016