Charleston Real Estate

2014 was a tremendous year for real estate in Charleston. We sold over 13,500 homes with a median sales price of $222,000 (the graph shows the 12-month rolling average for sales in the last 3 years). That was a 7.4% increase in transactions over 2013, which was also a great year. And the median sales price was the highest ever for the Charleston area, a 5.7% increase over the median price in 2013.

[Our team almost doubled our sales from 2013 to 2014, and we are now in the Top 2% in sales for the Charleston MLS. Our average Sold/List Price Ratio was 97.21% in 2014, compared to the MLS average of 91.93%]

Short sales and foreclosures are now a very small part of the market here. New cons...

Where are the Opportunities in Charleston, SC?

Interesting Real Estate Facts: The graph shows Months of Inventory (MOI) for the Charleston, SC residential market. MOI measures the relationship between supply and demand, and tells buyers and sellers whether the market is a "hot" (seller's) market (below 5 months) or a "slow" (buyer's) market (above 7 months). 

Quick Conclusion:

Best opportunities for BUYERS in Charleston: 
Above $300K (7.9 months)

Best Opportunities for SELLERS in Charleston: 
From $100K to $200K (3.7 months)

Of course, these numbers are averages and real estate is hyper-local. 

For a quick, free, online estimate of the current value of any home visit www.Cha...

CHARLESTON REAL ESTATE MARKET:
Is The Recent Boom Sustainable?

The Charleston, SC real estate market here is setting records for buying activity this time of year:  We are experiencing record highs for the number of properties going under contract each week, and we may set an all-time record for the whole year. 

Year-to-date, median sales price in the Charleston Metro Area went up to $222,000 (an all-time high for the Charleston area and up by 6.5% over 2013).  And number of transactions increased to more than 10,000 (up by 6.2% over 2013) in just the first 3 quarters. 

Mount Pleasant continues to be the most popular area for buyers with median sales price in the $350,000 range.  I...

Our crystal ball tell us that median prices are about to go up in most areas of Charleston, SC. Real estate is hyper-local! How are home prices changing in the different areas of the Charleston, SC Metro Area? 

This chart analyzes the short-term market dynamics and predicts what median prices may do in the near future, based on the number of current pending transactions. If you are curious about the current value of your home, visit http://CharlestonSCRealEstatePrices.com/for a free, online estimate.

The only two areas where prices are predicted to fall slightly in the near future are Summerville/Ladson and North Charleston. Prices in all the other MLS areas are forecasted to go up! (...

Current Charleston, SC area trends in home prices & inventory, in addition to trends in the Charleston rental market! PLUS, our market projections from our "crystal ball"! ------

The Charleston, SC residential real estate market has shown continued recovery in the last 12 months.

Current inventory (No. of Homes for Sale) continues to fall, and average absorption has moved from 8.38 months for 2011-2012 to 6.00 months for 2012-2013, thus moving from a “Buyer’s Market” into a “Neutral Market”.

Click here to download the complete Market Update for FREE.

Median sales prices in the metro area have recovered, with the 12-month rolling average in the entire MLS surpassing the $200,000 ma...

Is Now A Good Time To Buy a Home In Charleston, SC?

The "overall" answer is YES. The "affordability index" (i.e. the relationship between home prices and interest rates) is at a very high level.

Most of the Charleston area (excepting Mount Pleasant and some segments of Daniel Island, areas in which the real estate market has turned around and prices are firming up) are still oversupplied - more than 6 months' inventory - and therefore prices are still soft (buyer's market).

Bear in mind that in our opinion the most important factor to consider right now (if you plan to borrow money) are interest rates. A 1% hike in interest rates will decrease your buying power by about 10%. And at this ...

MOVING IN THE RIGHT DIRECTION - The Charleston Real Estate Market

Here are some quick statistics to think about:

For the Charleston Metro Area:

Active (Current) Inventory has dropped from 11,156 in August 2008 to 8,265 today (26% drop)! Of these, 2,053  are under contract (ONE OUT OF FOUR HOMES WITH A "FOR SALE" SIGN IS UNDER CONTRACT!) 

For Mount Pleasant:

Active (Current) Inventory has dropped from 2,053 in July of 2007, to 1,053 today (49% drop!). Of these, 323 are under contract (ONE OUT OF THREE HOMES WITH A "FOR SALE" SIGN IS UNDER CONTRACT!)

Venture to predict when prices will start climbing again?

Which market will lead the Charleston Area out of the correction? 

The writi...