Here is the Statistical Summary for 2011 MLS Tri-County Residential data. The Tri-County report shows that the number of Closed Homes (8,953) increased 5.3% in 2011 compared to 2010, and increased by 11.7% compared to 2009. At the same time, New Listings Taken has decreased by 16.3% over 2010.
The Median Sales Price dropped from $189,215 in 2010, to the 2011 level of $183,000, or a 3.3% decrease. The Median Sales Price, just 10 years ago in 2002, was $156,000 or a 17% increase in that time period.
I am also attaching the Housing Appreciation Supply & Demand for the past 10 years, which shows the number of New Listings Taken for each year as compared to the number of Homes Closed each year. The graph shows, visually, when area real estate was a Buyer's market and when it was a Seller's market, and also indicates the current path the market is trending.
Mike Ciucci specializes in the Charleston SC real estate market. He has been a Charleston realtor for over 15 years, focusing on quality and attention to detail his clients have come to expect.