Posted By Alan Donald @ Oct 13th 2015 9:24am In: Charleston Real Estate

Charleston Real Estate Market Analysis:
Hot, But More Room for Growth!

The year-to-date (YTD) numbers have abundant positive news for the Charleston, SC area. Overall, we are up 15.4% (YTD) in number of transactions and we're on track to sell just over 15,000 homes this year, which will make 2015 the 3rd best year ever in terms of number of sales.
Our median home price is up a modest 5.2% to $232,500.
Supply & Demand CHS Mkt Oct 2015
Many in our industry are glad to see home prices rising at a reasonable and sustainable pace. And we're still undervalued according to the trend line back to 1991. The chart below plots the trend line vs. the actual numbers. As you can appreciate, our current values are still below the expected values. 
CHS Growth Trend Graph
Supply vs. Demand: Our months of inventory (MOI) chart also looks very good. Overall, we have 3.8 months of inventory and 19 of 32 MLS areas are in a "seller's market" (6 months of inventory is defined as a "neutral or balanced" market).
One interesting shift: Last year the "hottest markets" used to be Mount Pleasant and Daniel Island, where home prices have been rising rapidly for the last two years.
Recent trends show that other inner city markets like West Ashley inside I-526, James Island and Downtown Charleston Peninsula have caught up and are now "hotter" than Mount Pleasant and Daniel Island.
The chart below shows the "temperature" for the different MLS areas in Charleston. 
Months of Inventory
Green = "Seller's Market" (under-supplied)
Yellow = "Neutral Market" (balanced)
Red = "Buyer's Market" (over-supplied)
Want to know how "hot" is YOUR area or neighborhood?
Send me an email at and we'll run the stats for you - no charge!

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