Keller Williams Realty
https://www.buyhomesincharleston.com/blog/charleston-real-estate-market-update-may-2016-edition.html

Charleston Real Estate Market Update - May 2016 Edition

Posted By: Alan Donald In: Charleston Real Estate
Date: Wed, Apr 27th 2016 10:44 am

Charleston Real Estate Market Update - May 2016 Edition

Our real estate market here is the busiest it’s ever been, busier than 2005-6. Through March we are up 7.3% in transactions over the same period from 2015. And median sales price is up to $235k, which is up about 5% over the same period from 2015. (Click the graphs to view larger images)

Prices are up, so short sales and foreclosures are almost non-existent and we are deeply in a "sellers' market" in most MLS areas.

New construction is abundant in many areas. Buyers can still find new homes in the area with upgrades like granite counters and hardwood floors for under $110 per square foot.

Mortgage rates are still very low. The 15-year mortgage is quoting now close to 3%.

SIGN UP HERE to receive a more detailed Quarterly Market Update.