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Charleston Real Estate Inventory Drops Again, Sales Slow!

Inventory Drops

Charleston Real Estate Market trends for July 2017:
It was another very busy buying week.
All areas did very well with the exception of peninsula areas 51,52.
James Island is now regularly seeing median $/sqft prices over $200/sqft.
It’s become very difficult to find anything on James Island for under $250k.
Mt Pleasant has been doing this for a very long time.
It’s very difficult to find anything in Mt Pleasant for under $300k.
West Ashley is consistently seeing prices over $150/sqft.
It’s very difficult to find anything in West Ashley for under $200k.
The Goose Creek/Moncks Corner areas have gotten a big boost from Volvo.
Prices in Nexton seem pretty high.
Park Circle and Hanahan have been buoyed by Boeing over the last 2-5 years.
Hanahan only has about 50 active listings.
Short sales and foreclosures have been irrelevant topics for about 2 yrs now.
However, new construction is a major topic in many MLS areas.
New construction can be a major competitor for ordinary Joe and Sally Seller.

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