July Market Update
RESIDENTIAL REAL ESTATE SALES DOWN SLIGHTLY COMPARED TO LAST JULY’S RECORD-BREAKING SALES
Year-to-Date Sales Up 23% and Median Price Increases Again
CHARLESTON, SC—(August 10, 2021) 2,112 homes sold in July in the Charleston region at a median price of $350,000 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR).
Year-to-date, sales volume has increased 23% with 14,252 homes sold thus far in 2021 compared to 11,636 at this point last year. Median price is $340,000, a 17% increase from this point in 2020, when the median price was $291,000.
Inventory data shows 63% fewer homes for sale over the last 12-month period, with 1,965 homes listed as “active” for sale in the CHS Regional MLS database at the end of July—representing one month’s worth of available inventory.
“As we anticipated, the year-over-year sales comparisons show a slightly lower volume of transactions in July” said 2021 CTAR President Rusty Hughes. “Last July had the highest number of sales for any month in 2020, by a margin of several hundred homes—so the sales figures we’re looking at for July 2021 actually reflect a normal pace of growth in comparison to historical data” said Hughes. “At this time last year, the market was really taking off after post-lockdown restrictions and many were reevaluating their housing needs, which led to a higher level of sales than normal” he said.
June Adjustment
Preliminary data showed 2,458 homes sold in June in the Charleston region at a median price of $353,544. Updated data now shows 2,470 sales at a median price of $353,544.
Berkeley County
600 homes sold at a median price of $291,950 in Berkeley County in July, 526 single-family homes and 74 condos/townhomes.
Year-to-date, 3,565 single-family homes have sold at a median price of $325,922. Today’s report shows a 34% increase in sales and a 16% increase in median sale price. 468 condos/townhomes have sold at a median price of $224,001 so far this year—a 13% increase in sales and 17% increase in price.
There are currently 497 residential properties for sale in Berkeley County; 546 single-family homes and 41 condos/townhomes.
Charleston County
974 homes sold at a median price of $404,556 in Charleston County in July, 695 single-family homes and 279 condos/townhomes.
Year-to-date, 4,955 single-family homes have sold at a median price of $495,500. Today’s report shows a 15% increase in sales and 22% increase in median sale price. 1,873 condos/townhomes have sold at a median price of $286,290 so far this year—a 33% increase in sales and 15% increase in pricing.
There are currently 958 residential properties for sale in Charleston County; 678 single-family homes and 280 condos/townhomes.
Colleton County
36 homes sold at a median price of $296,088 in Colleton County in July, 34 single-family homes and 2 condos/townhomes.
Year-to-date, 212 single-family homes have sold at a median price of $288,750 Today’s report shows a 13% increase in sales and a 49% increase in median sale price. 29 condos/townhomes have sold at a median price of $237,500 so far this year—a 3% decline in sales and 6% decline in pricing.
There are currently 64 residential properties for sale in Colleton County; 63 single-family homes and 1 condo/townhome.
Dorchester County
407 homes sold at a median price of $269,975 in Dorchester County in July, 344 single-family homes and 63 condos/townhomes.
Year-to-date, 2,206 single-family homes have sold at a median price of $305,000. Today’s report shows a 14% increase in sales and 15% increase in median sale price. 369 condos/townhomes have sold at a median price of $220,000 so far this year—a 31% increase in sales and 19% increase in pricing.
There are currently 263 residential properties for sale in Dorchester County; 223 single-family homes and 40 condos/townhomes.
