As reported by Charleston Trident Association of Realtors
Charleston County continues to lead the regional market recovery with 60% more closed sales and a 5% increase in median price when compared to last year. In February, 288 homes sold at a median price of $235,950 in the county compared to February 2009 preliminary figures which showed 180 homes sold at a median price of $225,000.
In Charleston County, the area south of Highway 41 had the most activity in February, with the Rivertowne neighborhood showing the highest sales for that area.
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Maybe you have read about the real estate market in the Charleston, SC area and are wondering what to do. You wouldn’t be the only one! Information is valuable when you understand the context and what it means.
The number of new real estate listings is slowing. The number of current listings is decreasing. There are more price reductions each week than there are price increases. Mortgage rates are low and there are tax incentives that are about to expire. Is it the time to buy real estate?
Making sense of the information can be difficult. Especially if you think that we haven’t hit the bottom yet! After all prices are being lowered more than they are being raised. But maybe we have essentially hit bottom because there are fewer listings and fewer new listings coming on the market. Rates are low now, but they WILL go up…soon, maybe. What should you do?
One of the Dunes Properties professional real estate agents can help you to make sense of the market. I am one of those agents and I can help you make sense of the confusing information you read each day about real estate. Our market is good. Whether you are buying your first home or moving to you dream home, we can help you make the best decision for you.