Residential Real Estate Market Remains Consistent as “Buying Season” Heats Up
CHARLESTON, SC—(May 10, 2017) According to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR) 1,514 homes sold in April in the region at a median price of $248,500. Last April, 1,478 homes sold at a median price of $239,700.
Year-to-date, 5,481 homes have sold in the region at a median price of $248,500. Sales volume in the region is up about 9% compared to 2016, with median price about 6% higher than this point last year.
Inventory has declined about 17% over the last 12-month period, with 5,198 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of the month.
“Residential sales activity has been remarkably consistent this year,” said 2017 CTAR President Dave Sansom. “We are still looking for an uptick in inventory to help regulate the growth in prices and increase sustainability, but overall we are seeing consistent numbers month over month and high, but healthy increases from last year” said Sansom. “May through July are usually very busy months for the residential market so we do anticipate activity to increase over the next few months” he concluded.
Preliminary data showed 1,660 homes sold in March in the region at a median price of $246,950. Adjusted figures now show 1,663 homes sold at the same median price.
350 properties sold at a median price of $201,987 in Berkeley County in April. Year-to-date, single-family home sales have increased about 7% in the County, with buyers paying about 6% more than they did a year ago. Condo and townhome sales have increased 55% with a 14% jump in price.
There are currently 1,052 residential properties for sale in Berkeley County—885 single-family homes and 167 condos/townhomes.
Find Berkeley County area reports here.
1,193 homes sold at a median price of $275,987 in April in Charleston County. Single-family home sales have grown 2%, year-to-date, with buyers paying almost 10% more than in 2016. Condo and townhome sales are up about 21% with a 6% increase in median price.
There are currently 2,859 residential properties for sale in Charleston County—2,173 single-family homes and 686 condos/townhomes.
Find Charleston County area reports here.
303 homes sold at a median price of $186,320 in Dorchester County in April. Sales of single-family homes in Dorchester County are up 15% and homes are about 9% more expensive than last year. Sales of condos and townhomes have increased by 21% and the median price has fluctuated in that sub-market by about 2%.
There are currently 703 residential properties for sale in Dorchester County—645 single-family homes and 58 condos/townhomes.
Find Dorchester County area reports here.