April Market Report
Released May 11, 2020:
1,441 homes sold in April in the Charleston region at a median price of $290,000 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). Last April, 1,608 homes sold at a median price of $270,713.
Year-to-date, 5,593 homes have changed hands at a median price of $289,900. At this point last year, 5,387 homes had sold at a median price of $270,695. Year-to-date, sales are up 4% and median price has increased by 7%.
Inventory data shows 24% fewer homes for sale over the last 12-month period, with 4,860 homes listed as “active” for sale in the CHS Regional MLS database at the end of April.
“The demand for housing in the Charleston region was so strong prior to COVID-19 spreading in our community, we have been very lucky to experience a minimal and what we expect to be very temporary drop in sales during April” said 2020 CTAR President Bobette Fisher. “Buyer interest has remained high throughout this global crisis and Realtors® have been able to continue safely working with clients from a largely virtual position, serving the public and finding shelter for families in a time when it’s never been more important to have a safe place to call home” said Fisher. “The most impactful piece of this pandemic on the local real estate market has been on our inventory level, which has continued to tighten in the past 8 weeks” she said. “Prices are up and sales will rebound quickly once people feel more comfortable interacting in public spaces again, but we need to see significant additions to our inventory to maintain the long-term health of our market” concluded Fisher.
March Adjustment
1,672 homes sold in March in the Charleston region at a median price of $287,045. Updated data now shows 1,676 sales at the same median price.
Berkeley County
386 homes sold at a median price of $234,000 in Berkeley County in April, 346 single-family homes and 40 condos/townhomes. Year-to-date, 1,305 single-family homes have sold at a median price of $278,790 and 181 condos/townhomes at a median price of $189,900.
There are currently 966 residential properties for sale in Berkeley County; 845 single-family homes and 121 condos/townhomes.
Charleston County
719 homes sold at a median price of $329,950 in Charleston County in April, 537 single-family homes and 182 condos/townhomes. Year-to-date, 2,060 single-family homes have sold at a median price of $395,000 and 694 condos/townhomes at a median price of $250,000.
There are currently 2,730 residential properties for sale in Charleston County—1,944 single-family homes and 786 condos/townhomes.
Colleton County
32 homes sold at a median price of $170,500 in Colleton County in April, 29 single-family homes and 3 condos/townhomes. Year-to-date, 108 single-family homes have sold at a median price of $180,000 and 14 condos/townhomes at a median price of $259,500.
There are currently 141 residential properties for sale in Colleton County—124 single-family homes and 17 condos/townhomes.
Dorchester County
247 homes sold at a median price of $209,575 in Dorchester County in April, 226 single-family homes and 21 condos/townhomes. Year-to-date, 919 single-family homes have sold at a median price of $263,000 and 116 condos/townhomes at a median price of $189,900.
There are currently 624 residential properties for sale in Dorchester County—558 single-family homes and 66 condos/townhomes.
