August Market Update

Charleston Trident Association of Realtors reports the year-to-date figures show 10,303 homes sold thus far in 2016 at a median price of $239,000. Compared to 2015 – year-to-date sales volume has increased 7% and median price has grown by 8.1 %.

Inventory has declined 22% over the last 12 month period, with 5,335 homes listed as “active” for sale in our region as of July 31.

The current lack of local inventory is causing homes to sell more quickly than in years past, and has led to fewer days on market. Over the last 3 years, sales have peaked in June – and this year was no exception. The year-to-date numbers remain solid, and represent a steady sign of growth. We hope to expect similar, sustainable numbers over the following months.

Original article can be found here:

http://www.charlestonrealtors....

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