Posted By Alan Donald @ Feb 7th 2011 7:45am In: Charleston Real Estate


HousingOur 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. 

The Alan Donald Real Estate Team

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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