February 2017 Charleston Market Report

Home Sales And Median Price Continue Upward Trends

CHARLESTON, SC—(March 10, 2017) According to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR) 1,261 homes sold in February in the region at a median price of $241,000. Last February, 1,098 homes sold at a median price of $236,484. For more than a year, home sales have consistently exceeded 1,000 closings per month, indicating stability for this pace of sales in our regional market.

Year-to-date, 2,294 homes have sold in the region at a median price of $240,000. The year-to-date median price for all three counties now exceeds $200,000.

Inventory has declined about 20% over the last 12-month period, with 4,837 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of February—relatively flat from January but as we move toward the busier spring season, we expect that inventory will begin increasing.

“The pace of home sales in our region seems to be sustainable” said 2017 CTAR President Dave Sansom. “Prices are increasing at a steady pace, but we do hope to see inventory increase this spring and encourage a bit more affordability across various price ranges. However, the region-wide price growth does not seem to be affecting demand just yet” he said.

January Adjustment
Preliminary data for January 2017 showed 1,029 homes sold at a median price of $238,900. Adjusted figures now show 1,033 homes sold at a median price of $239,000.

Berkeley County
299 properties sold at a median price of $214,500 in Berkeley County in January. There are currently 914 residential properties for sale in Berkeley County—781 single-family homes and 133 condos/townhomes.

Find Berkeley County area reports here. 

Charleston County
500 homes sold at a median price of $308,750 in January in Charleston County. There are currently 2,545 residential properties for sale in Charleston County—1,920 single-family homes and 625 condos/townhomes.

Find Charleston County area reports here. 

Dorchester County
189 homes sold at a median price of $195,000 in Dorchester County in January. There are currently 663 residential properties for sale in Dorchester County—618 single-family homes and 45 condos/townhomes.

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