November 2014 Market Reports
CHARLESTON, SC—(November 10, 2014) According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,212 homes sold at a median price of $215,000 in October. Last October, 1,047 homes sold at a median price of $189,900 in the region.
As expected for this time of year, the inventory of homes for sale has tightened, with 6,150 homes listed as ‘active’ for sale in the Charleston Trident Multiple Listing Service (CTMLS). “Many families prefer not to list their home for sale during the busy holiday season.” said 2014 CTAR President, Corwyn Melette. “Usually, we see a slowing of activity overall in the last quarter of the year. This year, however, while sales are still closing at a pretty constant pace, we are seeing new listings slow down a bit,” said Melette.
Year-to-date, 11,912 homes have sold in the region; on pace to end 2014 with nearly 8% more sales than in 2013. At this point last year, CTMLS tracked 11,041 homes sold.
“The interest from buyers and the corresponding sales activity this year has been incredible,” said Melette. “As more companies choose to invest in Charleston, and more people move to the area, the competition for the limited inventory we have will likely continue. However, as builders are able to complete some of the much-needed development in the suburban areas, inventory will increase and buyers will have more choices from a wider range of property types—condos, townhouses and the traditional single family homes” he said.
Preliminary data reported for September 2014 indicated that 1,293 homes sold at a median price of $214,500. Adjusted figures now show 1,304 homes sold at a median price of $213,611.
Berkeley County288 homes sold at a median price of $176,000 in Berkeley County in October. Year-to-date, 2,683 homes have sold at a median price of $181,950.
Find additional reports on Berkeley County, here.
In Charleston County in October, 635 homes sold at a median price of $287,500. Year-to-date, 6,477 homes have sold in the County at a median price of $275,000.
Find additional reports on Charleston County, here.
237 homes sold at a median price of $174,330 in October in Dorchester County. Year-to-date, 2,224 homes have sold at a median price of 177,500.
Find additional reports on Dorchester County, here.
Reposted from Charleston Trident Association of REALTORS
5300 International Boulevard Suite C-105 Charleston, SC 29418