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Sustainable Sales Continue Through July

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CHARLESTON, SC—(August 10, 2016) 1,643 homes sold during July in the region at a median price of $240,000 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). In July 2015, 1,691 homes sold at a median price of $237,269. This data reflects a 2.8% decrease in sales volume and 1.5% growth in median price, comparing last July to this July.

Year-to-date figures show 10,303 homes sold in 2016 at a median price of $239,000 in the region. Comparing 2015 figures to 2016 thus far, year-to-date sales volume has increased 7% and median price has grown by 8.1%.

Inventory has declined by 22% over the last 12-month period, with 5,335 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) as of July 31.

“The sales dip can be attributed to several factors. The current lack of inventory is certainly a major reason. Over the last 3 years, sales have peaked in June and this year is no exception,” said 2016 CTAR President Michael Sally. “The year-to-date numbers are strong, and a sign of steady growth. We should see similar, sustainable numbers over the next few months.”

June Adjustment
Preliminary data showed 1,919 homes sold in June in the region at a median price of $250,000. Adjusted data now shows 1,929 sales at the same median price.

Tri-County Overview
1,588 of the homes sold in the region sold in Charleston, Berkeley or Dorchester counties at a median price of $242,481.

Berkeley County
421 homes sold at a median price of $206,000 in Berkeley County in July. There are currently 1,168 residential properties for sale in Berkeley County.

Find Berkeley County area reports here. 

Charleston County
865 homes sold at a median price of $318,345 in July in Charleston County. There are currently 2,988 residential properties for sale in Charleston County.

Find Charleston County area reports here. 

Dorchester County
302 homes sold at a median price of $199,450 in Dorchester County in July. There are currently 938 residential properties for sale in Dorchester County.

Find Dorchester County area reports here. 

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