MARKET ACTIVITY REPORTS
Summer Real Estate Season Kicks off with Big Gains in Sales, Stable Price Growth
CHARLESTON, SC—(June 10, 2015) 1,457 homes sold in May in the tri-county area at a median price of $235,000 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). In May 2014, 1,314 homes sold at a median price of $217,500.
Year-to-date, sales volume has increased 19%, with 6,209 homes sold, compared to last year’s 5,201. Year-to-date median price is growing at a very sustainable 2%, at $220,000 compared to last year’s $215,000.
“Home prices in our region are growing at a steady, consistent pace, which is an excellent indicator of the health of our market, long-term” said 2015 CTAR President, Matt DeAntonio. “The Summer season is typically one of the busiest, and with a constant influx of new residents moving to the Charleston area every day, the next few months should be incredibly busy for us” said DeAntonio.
Inventory increased with 50 more homes on the market, but continues to be a bit low regionally, and in some of the more popular areas around the Lowcountry. There are currently 5,855 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS).
Preliminary figures showed 1,386 homes sold in April at a median price of $220,000. The adjusted figures now show 1,407 sales at the same median price.
337 homes sold at a median price of $202,726 in Berkeley County in May. The most active area of the county was the area bordered by Jedburg Road/Hwy 17A/College Park—where 79 homes sold at a median price of $197,000.
Find Berkeley County area reports here.
815 homes sold at a median price of $287,100 in May in Charleston County. The most active area outside of Mt. Pleasant, where 237 homes sold at a median price of $405,700, was West Ashley (outside I-526), where 109 homes sold at a median price of $242,500 and James Island, where 96 homes sold at a median price of 288,550.
Find Charleston County area reports here.
246 homes sold at a median price of $194,950 in Dorchester County in May. The most active area of Dorchester County was Summerville/Ridgeville, where 124 homes sold at a median price of $219,900.
Find Dorchester County area reports here.
Meghan Byrnes Weinreich | 843.793.5208
Marketing and Communications Director
Charleston Trident Association of REALTORS