Charleston SC Real Estate September Update

CHARLESTON, SC—(September 10, 2014) According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,358 homes sold at a median price of $215,000 in August. Last August, 1,318 homes sold at the same median price.

Year-to-date, 9,431 homes have sold at a median price of $215,500 – a reflection of steady growth when compared to last year, when 8,706 homes had sold at a median price of $205,417.

The summer months were, as expected, a period of steady, sustainable growth. About 40% of sales for the year close during the summer, and this summer, sales activity and price growth has our market well-positioned for a strong finish to 2014.  From May through August 2014, home sales increased 5% and median price increased at a sustainable, healthy 2% growth rate. 5,548 homes sold at a median price of $216,231 in the region this summer.

At the end of August, there were 5,961 homes classified as active for sale in the CTMLS. At this time last year, there were 5,702.

During August in Charleston County, 727 homes sold at a median price of $278,180. As the largest geographic area, the Mount Pleasant market closed the most sales, with 235 homes sold at a median price of $388,750.  However, after nearly half a year of West Ashley leading Charleston County sales (outside of Mount Pleasant), James Island took the top spot with 101 homes sold at a median price of $270,00 in August.

Walter Mueller
Walter Mueller
Broker Associate
1534 Village Square Mount Pleasant SC 29464