Buying or Selling a Home In Charleston SC?

Posted By Reggie Walters @ Mar 3rd 2017 2:15pm In: buying and selling in Charleston SC

The real estate market in Charleston and the surrounding area is heating up! This market is seeing its best sales in a decade. Here is a recent article from the Charleston Trident Association of Realtors®.



January Home Sales Exceed 1k For The First Time in A Decade

CHARLESTON, SC—(February 10, 2017) According to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR) 1,029 homes sold in January in the region at a median price of $238,900. Last January, 972 homes sold at a median price of $218,020.  This marks the twelfth consecutive month that sales in the region have surpassed 1,000 homes and the first time in a decade that January sales have exceeded that benchmark.

Comparing the first month of 2017 to last year, sales volume has increased 6% and buyers are paying 9.5% more for homes in the region than they did last year.

Inventory has declined about 20% over the last 12-month period, with 4,746 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) as of January 31.  We expect that inventory will begin increasing slightly in the coming months.

“We are pleased to see the residential market starting on such solid ground in 2017” said 2017 CTAR President Dave Sansom.  “Last year was a strong year of growth in our market and starting the year with such substantial increases bodes well for both buyers and sellers. We’re poised to see another year of consistent growth in our market, supported by the flourishing local economy” he concluded.

Berkeley County
299 properties sold at a median price of $214,500 in Berkeley County in January. There are currently 914 residential properties for sale in Berkeley County—781 single-family homes and 133 condos/townhomes.

Charleston County
500 homes sold at a median price of $308,750 in January in Charleston County. There are currently 2,545 residential properties for sale in Charleston County—1,920 single-family homes and 625 condos/townhomes.

Dorchester County
189 homes sold at a median price of $195,000 in Dorchester County in January. There are currently 663 residential properties for sale in Dorchester County—618 single-family homes and 45 condos/townhomes.

This is a fantastic way to start out the year. It appears that as the temperatures are getting warmer, so will the Charleston area real estate market.
article from Charleston Trident Association of Realtors®

For more information on buying or selling in the Charleston area contact me now!



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