Charleston SC Real Estate Market Update - January 2018
CHARLESTON, SC—(December 13, 2017) According to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR) 1,356 homes sold in November in the region at a median price of $252,733. Last November, 1,267 homes sold at a median price of $242,920.
The year-to-date pace of growth in sales and median price in the region stayed constant through November, tracking 3% growth in sales for the year and 4% growth in median price. 16,832 homes have sold in the region at a median price of $250,000 thus far in 2017. At this time last year, 16,302 homes had sold at a median price of $240,000.
“We are in a position to finish this year on a path of sustainable growth for the residential real estate market” said 2017 CTAR President, Dave Sansom. “About halfway through the year, sales started leveling off from double-digit gains and brought us to growth of 3% for the year. I suspect that figure would be higher if we had more inventory, since there is still considerable demand in our market” said Sansom.
5,120 homes were listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of the month, slightly higher than last month but about 12% fewer homes available than in 2016.