QUICK FACTS ON THE CHARLESTON REAL ESTATE MARKET
Our market was generally healthier in 2010 than in 2009. Here are some facts for the Charleston MLS area that were recently published by the Charleston-Trident Association of Realtors:
No. of Closed Transactions: 8,649 (Up 5.2% from 2009)
Median Sales Price: $188,979 (Up 3.0% from 2009)
Average Sales Price: $266,106 (Up 4.7% from 2009)
Days On Market Until Sale: 107 (Down 4.8% from 2009)
- Single Family Detached: 106 days
- Condos/Townhomes: 146 days
Percent Achieved (Sales Price/Original List Price): 90.6% (Up 1/9% from 2009)
- New Construction: 96.0%
- Pre-Owned Homes 88.6%
Months of Supply at Year-End: 10.9 (Down 18.5% from 2009)
- Single Family Detached: 9.9 months
- Condos/Townhomes: 15.0 months
- New Construction: 6.7 months
- Pre-Owned Homes 12.2 months
Current Inventory (Homes for Sale at Year-End): 8,214 (Down 13% from 2009)
It is evident from the above statistics that our market is recovering. In some sub-segments of the market (for example, homes under $300,000 in Mount Pleasant) inventory is down to 6-7 months, which indicates a "neutral" market (in which neither buyers or sellers have the advantage). The high end market (homes above $1M) still has much higher inventory levels and very low absorption rates. Although in 2010 there was some movement in this segment, it is predicted it will take a lot longer than average to recover.
Providing real estate and relocation services for the Charleston, SC Metro Area - including Downtown Historic Charleston, Mount Pleasant, Daniel Island, Summerville, Goose Creek, Hanahan, Ladson, West Ashley, James Island, Johns Island, Sullivans Island and Isle of Palms. To receive free statistics about a particular sub-market, please contact us by email, or call us on 843-864-3777.
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