The price gap between Mount Pleasant and the rest of the Charleston Area continues to widen (see Graph No. 1 - click to magnify).
However, the "supply and demand" Months of Inventory curves have once again intersected (see Graph No. 2 - click to magnify). In the past, this "crossing" has been a precursor to a market shift. While inventory is still low, if history repeats itself and absorption in Mount Pleasant goes up past 6 months' inventory, we may experience a market correction in Mount Pleasant, normally ollowed by a market correction in the rest of the Charleston Area 12-18 months' after.
Last Week's Activity
Analysis of residential properties going under c...
“The Charleston, S.C., real estate market is hot (and we’re not talking about the summertime temps!) — no doubt in part due to its ranking as the sixth-highest for job growth in the U.S.,” list compiler and Trulia chief economist Ralph McLaughlin said in his review.
Of course, with all these great events and great restaurants you might expect that Charleston real estate is booming. And it is!!
Here is the weekly analysis of residential properties that went under contract in the Charleston, SC MLS area over the past week (12/15/15).
Our real estate market continues to set records each week for buying activity for this time of the year. We always have a seasonal slow down starting some time in October and usually lasting through February. While we have slowed down from the incredible pace that we experienced this Summer, we are still far ahead of past years for this time of year. 
While this is the highest it’s ever been, it’s still below where it should be, according to the multi-year trend line. We expect the median sales price to rise to over $250,000 next year, as our market will not remain undervalued forever.
