Real Estate Market Update - November 2015 Edition
Charleston, SC Real Estate Market Update
November 2015 Edition
With all that this city has to offer, you might imagine that the real estate market is doing well. And you would be right.
We’re setting records for this time of the year, this will be the 3rd busiest year ever for Charleston real estate and our median home sales price (12-month rolling average) is now $225,000.
While this is the highest it’s ever been, it’s still below where it should be, according to the multi-year trend line. We expect the median sales price to rise to over $250,000 next year, as our market will not remain undervalued forever.
Conde Naste Travel Magazine readers just voted Charleston as the #1 small tourist city in the world, for the 5th year in a row! With our metro population at around 725,000 and a growth projection to 945,000 for 2025, Charleston is set for a high growth decade and our real estate will enjoy some appreciation!
For more information or to schedule a complimentary "residential market overview" consultation, please call 843-900-0155.
Sources: Charleston Trident Association of Realtors, Charleston Regional Development Alliance, Charleston Real Estate Stats