So…. How’s the Charleston Real Estate market fairing in 2014?
With some help from our neighborhood statistician, Doug Holmes, we have posted a chart below outlining what’s going on. Mt Pleasant and West Ashley have been VERY strong!
Overall, we are up 5.9% in terms of number of transactions over this same period from 2013.
We look to be on a pace to sell over 13k homes this year.
A few areas are actually down in number of sales, but this sometimes has more to do with lack of inventory to sell.
The median sales price is at $222k, which is up 6.5% over the same period from 2013.
While median sales prices are now higher than they were at the peak of the market in 2007, there are still a lot of 2005-2007 buyers that are still slightly under water, especially once they have to pay real estate commissions and other fees.
Number of sales and median sales price both show healthy gains in MLS areas 12,21,31,73,74,76, and 78
The months of inventory chart shows that inventory is still at a low-healthy level in most areas.
I’m a little amazed that are 52 and area 77 are so high on that chart.
There are several areas that would be selling more, but they just don’t have enough active inventory.
Some sellers are just waiting until the market improves further.
Want to know what we know? Ready to invest in Charleston SC real estate? Call the experts at ChuckTown Homes Real Estate – 888/ 210.3348