August Market Update
RESIDENTIAL REAL ESTATE SALES INCREASE IN AUGUST, MEDIAN PRICE UP 17%
CHARLESTON, SC—(September 10, 2021) 2,113 homes sold in August in the Charleston region at a median price of $357,900 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR).
Year-to-date, sales volume has increased 20% with 16,399 homes sold thus far in 2021 compared to 13,717 at this point last year. Median price is $344,411, a 17% increase from this point in 2020, when the median price was $295,000.
Inventory data shows 49% fewer homes for sale over the last 12-month period, with 2,062 homes listed as “active” for sale in the CHS Regional MLS database at the end of August—representing one month’s worth of available inventory.
“The August sales increases are consistent with what we expected and serve as a good baseline for where we expect to see in terms of sales activity for the remainder of the year” said 2021 CTAR President Rusty Hughes. “We have not seen a decline in demand and don’t expect to any time soon—the appeal of the Charleston region is holding strong” said Hughes. Earlier this week, Travel + Leisure magazine announced that for the 9th year in a row, Charleston was named the ”Best US City”.
July Adjustment
Preliminary data showed 2,112 homes sold in July in the Charleston region at a median price of $350,000. Updated data now shows 2,132 sales at a median price of $350,000.
Berkeley County
697 homes sold at a median price of $326,516 in Berkeley County in August, 598 single-family homes and 99 condos/townhomes.
Year-to-date, 4,176 single-family homes have sold at a median price of $329,500. Today’s report shows a 33% increase in sales and a 17% increase in median sale price. 568 condos/townhomes have sold at a median price of $226,990 so far this year—a 19% increase in sales and 17% increase in price.
There are currently 553 residential properties for sale in Berkeley County; 503 single-family homes and 50 condos/townhomes.
Charleston County
902 homes sold at a median price of $415,173 in Charleston County in August, 654 single-family homes and 248 condos/townhomes.
Year-to-date, 5,618 single-family homes have sold at a median price of $500,000. Today’s report shows an 11% increase in sales and a 21% increase in median sale price. 2,125 condos/townhomes have sold at a median price of $290,000 so far this year—a 25% increase in sales and 16% increase in pricing.
There are currently 988 residential properties for sale in Charleston County; 691 single-family homes and 297 condos/townhomes.
Colleton County
39 homes sold at a median price of $246,950 in Colleton County in August, 35 single-family homes and 4 condos/townhomes.
Year-to-date, 247 single-family homes have sold at a median price of $279,900. Today’s report shows a 13% increase in sales and a 44% increase in median sale price. 33 condos/townhomes have sold at a median price of $237,500 so far this year—an 8% decline in sales and 6% decline in pricing.
There are currently 65 residential properties for sale in Colleton County; 59 single-family homes and 6 condo/townhome.
Dorchester County
399 homes sold at a median price of $282,225 in Dorchester County in August, 341 single-family homes and 58 condos/townhomes.
Year-to-date, 2,553 single-family homes have sold at a median price of $306,135. Today’s report shows a 13% increase in sales and 15% increase in median sale price. 428 condos/townhomes have sold at a median price of $221,900 so far this year—a 29% increase in sales and 20% increase in pricing.
There are currently 262 residential properties for sale in Dorchester County; 228 single-family homes and 34 condos/townhomes.
