Posted By Alan Donald @ Dec 13th 2011 9:32am In: Real Estate

Charleston Real Estate Market Shows Strength and Stability in 2011


Sales Volume Up, Stability in Median Price, Inventory moves to new 5-year Low

Charleston Real Estate According to preliminary figures released by The Charleston Trident Association of REALTORS® (CTAR) 648 homes sold at a median price of $191,500 in November, while inventory declined again to reach a new low of 7,258 homes listed as actively for sale.

Last November, 588 homes sold at a median price of $189,700 as inventory stood nearly 20% higher than the current level.  “The continued decline of inventory is an important factor in maintaining the stability and health of our local market, as we anticipate the addition of bank-owned inventory in the early stages of 2012” said Rob Woodul, 2011 President of CTAR. 

Compared to last November, sales volume is up by 10% and the median home price is a slight 1% higher.  Watch the following video to learn more...

BERKELEY COUNTY

168 homes sold at a median price of $175,312 in Berkeley County in November—a considerable improvement from last November, when 138 sales resulted in a median price of $169,187. 

The most active area of the county was Goose Creek/Monck’s Corner from Highway 52 to the Cooper River, where 45 homes changed hands at a median price of $164,590.  The most expensive homes in the County can be found on Daniel Island, where the median home price last month was $387,000.  The most affordable homes in Berkeley County are in the area of St. Stephen/Bonneau, where the median home price was $57,900.

Click here for a full report on Berkeley County.

Local Reports for Berkeley County

Daniel Island  -  Hanahan  -  Goose Creek/Moncks Corner

Wando/Cainhoy   -  Rural Berkeley County


CHARLESTON COUNTY

335 homes sold at a median price of $225,848 in November in Charleston County; compared to 318 sales at a median price of $236,175 last November. 

Outside of the county’s largest geographic area of Mount Pleasant, where 94 homes sold at a median price of $318,125, the most active area of the county was again, in West Ashley (outside I-526) where 51 homes sold at a significantly increased median price of $198,250.  The most expensive homes in the County sold in the resort community of Wild Dunes, where 9 sales resulted in a median price of $827,900.  The most affordable homes sold in North Charleston (inside I-526) where 16 homes changed hands at a median price of $55,000.

Click here for a full report on Charleston County.

Local Reports for Charleston County

Downtown (historic)  -  Downtown (above Crosstown)  - Edisto Area

James Island  -  Johns Island  -  West Ashley  -  North Charleston

Mount Pleasant (N of Hwy 41)  -  Mount Pleasant (S of Hwy 41)

Folly Beach  -  Isle of Palms  - Sullivan's Island

Kiawah and Seabrook Islands


DORCHESTER COUNTY
125 homes sold at a median price of $176,000 during November in Dorchester County, which shows a healthy increase in sales volume and notable increase in price, compared to last November’s 112 sales at a median price of $152,136.

The most active area was Summerville/Ridgeville, where 68 homes sold at a median price of $186,400; also making it the most expensive area in November.  The most affordable homes sold in the St. George/Harleyville area, where 4 homes sold at a median price of $112,500.

Click here for a full report on Dorchester County.

Local Reports for Dorchester County

Summerville  -  Dorchester Road Corridor  -  Hollywood/Ravenel/Meggett

St. George/Rural Dorchester County



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