November Market Update
Charleston Region Residential Real Estate Sales Level in 2018
CHARLESTON, SC—(December 11, 2018) 1,284 homes sold in November in the Charleston region at a median price of $269,900 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). Last November, 1,372 homes sold at a median price of $250,000.
Year-to-date sales data shows that sales are level with 2018 figures; 16,854 sales thus far in 2018 compared to 16,858 at this time last year. Median price has increased by 6% in the region, at $265,500 in comparison to last year’s $250,000.
Inventory data shows about 5% fewer homes for sale over the last 12-month period, with 5,553 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of November.
“In terms of year-to-date sales, we are on pace to finish even with last year and mark a significant rise in prices—we expect an increase of around 6%” said 2018 CTAR President Kimberly Lease. “The slight decline in sales in November could be due to the early Thanksgiving holiday, or could be the normal seasonal slowdown we expect towards the end of every year” said Lease.
Preliminary data showed 1,368 homes sold in October in the Charleston region at a median price of $259,835. Updated data shows 1,373 sales at the same median price.
327 homes sold at a median price of $205,450 in Berkeley County in November, 293 single-family homes and 34 Condos/townhomes. Year-to-date, single-family home sales have increased by 2% in the County, as median home price has increased by 7%, to $245,531. Condo and townhome sales are down 11% as median price rose less than 1% to $162,000 so far this year.
There are currently 1,035 residential properties for sale in Berkeley County 908 single-family homes and 127 condos/townhomes.
615 homes sold at a median price of $313,725 in Charleston County in November, 440 single-family homes and 175 Condos/townhomes. Single-family home sales have declined by about 3% in the County this year, as median home price has increased 5% to $375,000. Condo and townhome sales declined by 5% as median price increased 3% to $230,000.
There are currently 3,222 residential properties for sale in Charleston County—2,429 single-family homes and 793 condos/townhomes.
266 homes sold at a median price of $199,750 in Dorchester County in November, 242 single-family homes and 24 Condos/townhomes. Single-family home sales have increased by about 4% in the County, as median home price has increased 5.5% so far this year, to $238,000. Condo and townhome sales were even as median price increased nearly 12% to $156,000.
There are currently 702 residential properties for sale in Dorchester County—631 single-family homes and 71 condos/townhomes.