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Charleston-Area Residential Real Estate Market Shows Healthy Growth Through the Summer Season

homes-sold

CHARLESTON, SC—(September 14, 2017) According to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR) 1,694 homes sold in August in the region at a median price of $244,867, reflective of a 3% decline in sales and 1% growth in median sales price as compared to last August, when 1,750 homes sold at a median price of $241,564.

The year-to-date growth rates of sales and price are slowing slightly but still show strong increases over last year. 12,670 homes have sold in the region at a median price of $250,000 thus far in 2017. Sales volume has increased about 5% compared to 2016, with homes selling for about 4% more than they did at this point last year.

“The lack of inventory in the price ranges with the most demand is showing its impact on our market, particularly in Charleston County” said 2017 CTAR President Dave Sansom. “For several months, sales data has not shown the frenzied pace we were seeing earlier in the year and could be a trend towards a more measured pace going forward” he said.

5,278 homes were listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of the month, down 17% from 2016 levels.

July Adjustment
Preliminary data showed 1,683 homes sold in July at a median price of $258,705, adjusted figures reflect the same data.

Berkeley County

450 properties sold at a median price of $219,950 in Berkeley County in August. Year-to-date, single-family home sales have increased about 6% in the County, with buyers paying about 5% more than they did a year ago.  Condo and townhome sales have increased 32% with a 12% increase in price.

There are currently 1,088 residential properties for sale in Berkeley County—937 single-family homes and 151 condos/townhomes.

Find Berkeley County area reports here. 

Charleston County
828 properties sold at a median price of $311,000 in Charleston County in August. Year-to-date, single-family home sales volume has grown about 1% in the County, with buyers paying about 6.5% more than they did a year ago.  Condo and townhome sales have increased 11% with a 4.5% increase in price.

There are currently 2,836 residential properties for sale in Charleston County—2,200 single-family homes and 636 condos/townhomes.

Find Charleston County area reports here. 

Dorchester County
346 properties sold at a median price of $215,000 in Dorchester County in August. Year-to-date, single-family home sales have increased about 2% in the County, with buyers paying about 7% more than they did a year ago.  Condo and townhome sales have increased 14% with a 4% increase in price.

There are currently 743 residential properties for sale in Dorchester County—687 single-family homes and 56 condos/townhomes.

Find Dorchester County area reports here. 

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

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