In the Charleston tri-county region, 8,779 homes sold in 2008, compared with 15,740 three years ago. Home sales were down 24% from 2007, when 11,530 homes sold. These stats can be obtained by contacting your Charleston MLS Realtor.
The current numbers from the multiple listing service for the Charleston Trident Association of Realtors put the market on par with the early half of the decade. About the same number of homes sold in 2008 as did each year between 2000 and 2003. If you want access to current market conditions use the information on waltermueller.com and our free detailed home search to find the Mt Pleasant SC real estate, land or property that you are looking for.
So how many home sales can a healthy Charleston economy sustain? Read the articles and information in order to give you an advantage when buying or selling your home in SC. Request free reports and market analyses thru realtors connected to the Charleston MLS before buying or selling a home.
The local real estate industry is beset by the glut of homes on the market. A five- to seven-month inventory is considered a healthy neutral market. The inventory now: 15 months. At the end of 2007, it was about 10 months' worth. Do not hesitate to contact expert SC realtors and real estate agents that will aid you in your home search. Get advice and information from experts in Charleston SC real estate and homes for sale in the surrounding areas.
With 10,005 homes to choose from in the tri-county region, it is an extreme buyer's market. The problem is that buyers aren't making many moves, anticipating a further fall to the bottom. Still others might have trouble accessing lines of credit. Using our home search feature is free and easy. Find your perfect home, land or other property type in the Charleston market by viewing our company listings and also get access to all homes listed on the multiple listings service (Charleston MLS).
Three years ago about 4,500 homes were on the market in 2005, or about a three-month inventory. Inventory is down somewhat from a few months ago, when it peaked at 11,191 homes in November. Contact expert SC realtors and real estate agents that will aid you in your home search. Get advice and information from experts in Mt Pleasant SC real estate and homes for sale in the surrounding areas thru the Charleston MLS.
Because so little turnover has occurred, people presumably are making other decisions about what to do with their homes. Despite the sales slump, home prices remained relatively steady in 2008. The median price of a home sold in 2008 was $203,270, down 3% from the previous year's $209,742. Median home prices reported in the Charleston MLS are up almost 7% from 2005, when home sales were 45% higher than 2008 numbers.
