CHARLESTON, SC—(August 10, 2018) 1,685 homes sold in July in the Charleston region at a median price of $268,583 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). Last July, 1,693 homes sold at a median price of $258,935.
Year-to-date, sales have increased less than half a percent, with 11,052 sales thus far in 2018 compared to 11,018 at this time last year. Median price has increased 6% in the region, landing at $265,000 in comparison to last year’s $250,000.
Inventory data shows about 13% fewer homes for sale over the last 12-month period, with 5,275 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of July.
“Without an increase in inventory, it was not surprising that the typically busy summer season sales have been pretty even. We also continue to be challenged by affordability issues in our region, which is making our market inaccessible for many buyers” said 2018 CTAR President. “Nationally, there is conversation among economists about a housing bubble, with this summer’s sales slowdown being the first indicator. However, in our market, I think it is more likely that we are moving towards a market balancing—sales growth and price growth will continue to even out, as we’ve seen over the last few months, and the result will be a more balanced market” said Lease. “Lending practices are sound, our local economy is strong, as is demand for housing here, so I don’t believe an evening of the market will have negative consequences for us in Charleston” she concluded.
821 homes sold at a median price of $300,922 in Charleston County in July, 628 single-family homes and 193 Condos/townhomes. Single-family home sales have declined by about 2% in the County, as median home price has increased 4% so far this year, to $376,844. Condo and townhome sales declined by 6.6% as median price increased about 1% to $225,000.
There are currently 2,980 residential properties for sale in Charleston County—2,300 single-family homes and 680 condos/townhomes.
427 homes sold at a median price of $208,714 in Berkeley County in July, 380 single-family homes and 47 Condos/townhomes. Year-to-date, single-family home sales have increased by about 2% in the County, as median home price has increased by 6%, to $242,778. Condo and townhome sales are down about 8% as median price rose 1% to $162,500 so far this year.
There are currently 1,016 residential properties for sale in Berkeley County—915 single-family homes and 101 condos/townhomes.
345 homes sold at a median price of $196,914 in Dorchester County in July, 308 single-family homes and 37 Condos/townhomes. Single-family home sales have increased by almost 6% in the County, as median home price has increased by about 5% so far this year, to $237,000. Condos and townhome sales declined by about half a percent as median price increased 13% to $155,750.
There are currently 709 residential properties for sale in Dorchester County—649 single-family homes and 60 condos/townhomes.
Author:Jerod Coulter Phone: 843-513-3741 Dated: September 6th 2018 Views: 317 About Jerod: ...
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Working full-time in real estate allows Jerod to be accessible night or day for his clients. Both buyers and sellers have an acute appreciation for the time, energy, and complex marketing strategies he provides through an extensive network of personal contacts, media outlets, and dedicated professional marketing department. His strenuous work ethic and aggressive negotiating strategies are unparalleled. Holding a Bachelor of Science Degree in Finance & Economics with combined work experience in the investment banking industry, Jerod helps his clients accomplish their personal goals as well as financial expectations in real estate. Jerod takes great pride in his work and has a genuine interest in helping people. Whether you are buying your first home, purchasing a second home closer to the beach, investing in numerous income properties, or getting ready to sell the home of your dreams, he excels at assisting clients with goal setting, analyzing the data, and educating you to make the most informed decision possible.
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