NEW! April Market Update
RESIDENTIAL REAL ESTATE SALES AND HOME PRICES INCREASE AGAIN IN APRIL
Inventory Remains Low but New Listings Are on the Rise
CHARLESTON, SC—(May 10, 2021) 2,148 homes sold in April in the Charleston region at a median price of $343,796 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR).
Year-to-date, sales have increased 32% with 7,437 homes sold thus far in 2021 compared to 5,631 at this point last year. Median price is $333,765, a 15% increase from this point in 2020, when the median price was $289,900. The average time a property stays on market is 34 days.
Inventory data shows 80% fewer homes for sale over the last 12-month period, with 1,490 homes listed as “active” for sale in the CHS Regional MLS database at the end of April—representing less than one month of available inventory, a new record low. In total, there were 2,495 properties that were listed for sale during the month.
“The market has never been busier—inventory remains historically low, but we are seeing an increase of more homes come onto the market as new listings. The challenge is that they don’t last long” said 2021 CTAR President Rusty Hughes. “We are heading into what is typically the busiest season for real estate and we need to see that number of new listings continue to grow” he said. “This summer will bring tourists and visitors from all over the world and many of them will fall in love with the Charleston lifestyle—this will drive demand up further” said Hughes.
March Adjustment
Preliminary data showed 2,168 homes sold in March in the Charleston region at a median price of $337,073. Updated data now shows 2,183 sales at the same median price.
Berkeley County
599 homes sold at a median price of $270,000 in Berkeley County in April, 529 single-family homes and 70 condos/townhomes.
Year-to-date, 1,860 single-family homes have sold at a median price of $319,900. Today’s report shows a 42% increase in sales and a 15% increase in median sale price. 227 condos/townhomes have sold at a median price of $214,900 so far this year—a 24% increase in sales and 13% increase in price.
There are currently 305 residential properties for sale in Berkeley County; 280 single-family homes and 25 condos/townhomes.
Charleston County
1,054 homes sold at a median price of $400,385 in Charleston County in April, 750 single family homes and 304 condos/townhomes.
Year-to-date, 2,640 single-family homes have sold at a median price of $470,629. Today’s report shows a 27% increase in sales and 19% increase in median sale price. 1,003 condos/townhomes have sold at a median price of $276,480 so far this year—a 44% increase in sales and nearly 11% increase in pricing.
There are currently 787 residential properties for sale in Charleston County; 552 single-family homes and 235 condos/townhomes.
Colleton County
42 homes sold at a median price of $212,500 in Colleton County in April, 35 single-family homes and 7 condos/townhomes.
Year-to-date, 119 single-family homes have sold at a median price of $327,600. Today’s report shows a 7% increase in sales and 82% increase in median sale price. 19 condos/townhomes have sold at a median price of $215,500 so far this year—a 36% increase in sales and 17% decline in pricing.
There are currently 53 residential properties for sale in Colleton County; 51 single-family homes and 2 condos/townhomes.
Dorchester County
371 homes sold at a median price of $264,950 in Dorchester County in April, 316 single-family homes and 55 condos/townhomes.
Year-to-date, 1,132 single-family homes have sold at a median price of $294,450. Today’s report shows a 23% increase in sales and 12% increase in median sale price. 149 condos/townhomes have sold at a median price of $198,500 so far this year—a 27% increase in sales and 5% increase in pricing.
There are currently 169 residential properties for sale in Dorchester County; 141 single-family homes and 28 condos/townhomes.
