January Market Stats
RESIDENTIAL REAL ESTATE SALES OFF TO A STRONG START IN 2020
CHARLESTON, SC—(January 10, 2020) 1,148 homes sold in January in the Charleston region at a median price of $287,523 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). Last January, during the government shutdown, 952 homes sold at a median price of $265,925.
Inventory data shows 19% fewer homes for sale over the last 12-month period, with 4,823 homes listed as “active” for sale in the CHS Regional MLS database at the end of January.
“It’s tough to draw a comparison against last January’s market figures, given that we were in the midst of the government shutdown in 2019 that significantly impacted the real estate market” said 2020 CTAR President Bobette Fisher. “This month’s sales figures are on par with what we would expect for this time of year, and in line with trends from recent years” she said. “We expect to see strong market activity in 2020, as we have a healthy, stable market and our region has a significant amount of economic development and expansion happening and in the pipeline” said Fisher. “We are, as always, focused on the steady increase in prices and the continued decline in inventory, which go hand-in-hand in suppressing our market’s full potential” she concluded.
306 homes sold at a median price of $231,030 in Berkeley County in January, 267 single-family homes and 39 condos/townhomes. There was significant activity in the Wando/Cainhoy area, with noteworthy increases in sales and pricing in both the single family homes and townhouse/condo markets.
There are currently 958 residential properties for sale in Berkeley County; 817 single-family homes and 141 condos/townhomes.
537 homes sold at a median price of $316,600 in Charleston County in January, 423 single-family homes and 114 condos/townhomes. North Mount Pleasant logged impressive gains in sales—particularly among single family homes in the Carolina Park, Park West and Dunes West subdivisions.
There are currently 2,666 residential properties for sale in Charleston County—1,921 single-family homes and 745 condos/townhomes.
24 homes sold at a median price of $217,875 in Colleton County in January, 22 single-family homes and 2 condos/townhomes.
There are currently 162 residential properties for sale in Colleton County—141 single-family homes and 21 condos/townhome.
206 homes sold at a median price of $226,727 in Dorchester County in January, 203 single-family homes and 37 condos/townhomes. There was substantial activity in the Dorchester County Condo/Townhouse market in January—particularly in developing areas of Ladson, close to the county’s major employers. The McKewn and Alston subdivisions accounted for 35% of the county’s townhouse sales.
There are currently 631 residential properties for sale in Dorchester County—551 single-family homes and 80 condos/townhomes.