Sales Price Up 6 Percent Year To Date In Charleston Areas

Sales Price Up 6 Percent Year To Date In Charleston Areas

Charleston, SC—(July 11, 2018) 1,927 homes sold in June in the Charleston region at a median price of $270,000 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). Last June, 2,003 homes sold at a median price of $260,000.

This year’s 10,584 closings show transactions up less than half a percent, likely due to the lack of available inventory in a variety of affordable price ranges—median price is up 6%, to $265,000 for the region.

Inventory is about 12% lower than it was at this point last year, with 5,369 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of June.

“We have yet to see the increase in inventory that we really need to balance out our market” said 2018 CTAR President Kimberly Lease. “The market is flush with buyers, but there’s just not enough out there to accommodate the variety of needs. Well-priced, move-in ready homes are not staying on the market long and prices continue to climb as well” Lease said, “However, we are seeing a trend of prices increasing at a slower and more sustainable pace, which is good news” she concluded.

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Phone: 843-513-3741
Dated: July 13th 2018
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