MARKET ACTIVITY REPORTS
Residential Real Estate Sales Surpass 2015 Totals by November’s End
(December 12, 2016) According to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR) 1,243 homes sold in November in the region at a median price of $243,000. In November 2015, 1,039 homes sold at a median price of $247,000.
Year-to-date figures show 16,216 homes sold at a median price of $240,000 in our area. Comparing year-to-date figures from 2015, sales volume has increased by 9% and buyers are paying 6.5% more for homes in the region than they did last year, which adds about $15-20,000 to the purchase price in the most active price ranges ($200-350k).
Inventory has remained consistently almost 20% lower than it was throughout 2015. There are 5,119 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) as of November 30. That figure is not expected to vary much over the winter months.
“The unexpected uptick in sales volume this month is likely due to some of the expected October closings being held up by Hurricane Matthew” said 2016 CTAR President Michael Sally. “The number of homes sold through the end of November already surpassed the total number of homes sold in 2015, so this has been another strong year for the Charleston region’s real estate market” he continued. “Prices have increased, maybe a bit faster than we’d like, but 6% growth is reflective of the number of people we have moving here and the demand it’s created in our market,” he concluded.
Preliminary data showed 1,272 homes sold in October in the region at a median price of $243,457. Adjusted data now shows 1,278 sales at a median price of $240,000.
334 homes sold at a median price of $221,850 in Berkeley County in November. Last November, 283 residential properties changed hands at a median price of $208,465.
Find Berkeley County area reports here.
627 homes sold at a median price of $318,000 in November in Charleston County. Last year, 534 homes had sold at a median price of $308,260 in November.
Find Charleston County area reports here.
237 homes sold at a median price of $206,000 in Dorchester County in November. Last November, 178 homes had changed hands at a median price of $196,070.