February 2015 Market Reports
1,000 homes sold in February in the tri-county area. The last time February sales passed the 1,000-transaction mark was February 2006. Year-to-date, 1,898 homes have sold in the region - 19% more sales than at this point last year.
"Charleston has been generating massive national and worldwide attention over the past few years. The Charleston chef and food scene have grown in popularity. Conde Nast has selected Charleston as the number one city in the U.S. for 2 years in row, and it was the number one city in the world in 2013. The business and tech industry influx to Charleston has helped our economy and economic growth. All of this attention, along with the weather, the pleasant people of the lowcountry, and the historic beauty of our area has now translated into huge demand to move this way. We are seeing it now in home sales in the Charleston area" said Matt O'Neill, Broker in Charge of Matt O'Neill Real Estate.
Inventory levels of homes available are also down from this time last year. Increase in demand and home sales, and decrease in inventory creates great pricing. This is a wonderful time to be a home seller. If you are thinking of selling a home, this spring will be a good time to put your house on the market.
259 homes sold at a median price of $185,000 in Berkeley County in February – primarily in the area bordered by Jedburg Road/Hwy 17A/College Park.
Find Berkeley County area reports here.
511 homes sold at a median price of $275,000 in February in Charleston County. The most active area was in Mount Pleasant (north of IOP connector). This was followed closely by North Charleston/Summerville (outside I-526).
Find Charleston County area reports here.
169 homes sold at a median price of $180,000 in Dorchester County in February. The most active area of Dorchester County was Summerville/Ridgeville.
Find Dorchester County area reports here.