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Sales Continue to Meet Industry Experts’ Projections

CHARLESTON, SC—(August 11, 2014) According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,380 homes sold at a median price of $216,250 in July. Last July, 1,272 homes sold at a median price of $209,250 in the region.
Year-to-date, residential sales have increased 8,016 homes have sold for a median price of $216,250 – compared to last year, where through July 7,417 homes had sold for a median price of $200,834.

“Our housing market continues to be where the economy experts thought it would be – steady, sustainable growth in both closed transactions and median price,” said 2014 CTAR President, Corwyn Melette. “With five straight months of inventory growth – albeit small, single digit percentage growth – some prospective buyers, who may not have found what they were looking for in the spring, should take another look and see if they find something that fits their needs now,” he added.

At the end of July, there were 5,961 homes for sale in the CTMLS. Last July, there were 5,770 homes listed as active for sale.

May Adjustment
Preliminary data reported for June 2014 indicated that 1,423 homes sold at a median price of $227,500. Adjusted figures now show 1,444 homes sold at a median price of $227,245.

Berkeley County
302 homes sold at a median price of $189,909 in Berkeley County in July. The most active area in the county was the North area bordered by Jedburg Road, Highway 17A and College Park, with 83 sales at a median price of $188,500.

Find additional reports on Berkeley County, here

Charleston County
In Charleston County in July, 736 homes sold at a median price of $272,500. Mount Pleasant was the most active area where 230 homes sold at a median price of $367,500, followed by West Ashley outside I-526 with 110 sales at a median price of $212,000 and North Charleston outside I-526 with 84 sales at a median price $150,000.

Find additional reports on Charleston County, here

Dorchester County
278 homes sold at a median price of $181,437 in July in Dorchester County. The most active area was Summerville/Ridgeville, where 131 homes sold at a median price of $209,000.

Find additional reports on Dorchester County, here

Media Contact:
Meghan Byrnes Weinreich | 843.793.5208
Marketing and Communications Director
Charleston Trident Association of REALTORS