September Market Update
Hurricane Florence Impacted Charleston Region Residential Real Estate Sales in September
CHARLESTON, SC—(October 10, 2018) 1,236 homes sold in September in the Charleston region at a median price of $276,500 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). Last September, 1,430 homes sold at a median price of $255,620.
Year-to-date sales data shows an increase of less than 1%, with 14,180 sales thus far in 2018 compared to 14,157 at this time last year. Median price has increased by 6.4% in the region, at $266,000 in comparison to last year’s $250,000.
Inventory data shows about 9% fewer homes for sale over the last 12-month period, with 5,441 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of September.
“Hurricane Florence shut down the Charleston region for nearly a week, which had a tremendous impact on our regional real estate market” said 2018 CTAR President Kimberly Lease. “The showing data confirms, we had 12% fewer showings in September, likely a result of the mandatory evacuation. I expect that many September closings transferred over to October and we will see an increase in sales next month” she said.
Preliminary data showed 1,860 homes sold in August in the Charleston region at a median price of $260,800. Updated data shows the same sales and price.
339 homes sold at a median price of $212,725 in Berkeley County in September, 299 single-family homes and 40 Condos/townhomes. Year-to-date, single-family home sales have increased by about 3% in the County, as median home price has increased by 7%, to $245,569. Condo and townhome sales are down about 6% as median price rose less than 1% to $163,253 so far this year.
There are currently 933 residential properties for sale in Berkeley County—876 single-family homes and 117 condos/townhomes.
465 homes sold at a median price of $302,250 in Charleston County in September, 465 single-family homes and 163 Condos/townhomes. Single-family home sales have declined by about 2% in the County, as median home price has increased 5% so far this year, to $375,000. Condo and townhome sales declined by 7% as median price increased about 1% to $227,000.
There are currently 3,149 residential properties for sale in Charleston County—2,372 single-family homes and 777 condos/townhomes.
200 homes sold at a median price of $204,945 in Dorchester County in September, 183 single-family homes and 17 Condos/townhomes. Single-family home sales have increased by about 3% in the County, as median home price has increased 5% so far this year, to $237,500. Condo and townhome sales increased by less than 1% as median price increased about 12% to $155,000.
There are currently 754 residential properties for sale in Dorchester County—679 single-family homes and 75 condos/townhomes.