Signs Indicate Seller’s Market in Charleston, SC
How’s Our Market? Things look pretty promising in the Charleston, SC real estate market. Here are few key indicators from our Carolina One market share reports:
- Homes Closed are up 18% in the Tri-County
- Median Sales Price and Price/Sq Ft are both up 8% over last year
- List Price to Sales Price ratios are averaging about 95%
- Absorption Rate shows many areas are reflecting a Seller’s Market of less than a 5 month supply of homes on the market
In the Charleston County – comprised of Berkeley, Dorchester and Charleston counties – homes closed were up 20% in 2012-2013 compared to the same time period the previous year. The average price per square foot is roughly $159 and the median sales price is $238K.
Here’s a look at the current active market by price range:
With less inventory each month and more buyer’s ready to capitalize on steady, low interest rates, this is clearly a seller’s market.
I took a look specifically at the Mount Pleasant area, as I do most of my buying and selling there, and here are some key stats in the first quarter of 2013:
- For 29464, there were 225 homes sold at an average sales price of $450K with an average days on market (DOM) of 99.
- For 29466, there were 204 home sales at an average sales price of $350K with an average DOM of 100.
But, Mount Pleasant isn’t the only town with great numbers. I can also help you buy or sell in Charleston, Isle of Palms, James Island, West Ashley and beyond.
Have you been thinking about selling your home? Now is the time to Sell! Contact me immediately to take advantage of our “hot” seller’s market.
All market data provided by Carolina One Real Estate.