Charleston Real Estate Market Update

Posted by Mike Ciucci on Tuesday, October 18th, 2011 at 3:41am.

Random Thoughts and Statistics for this Charleston Real Estate Market

Here are some statistics for you regarding the different areas surrounding Charleston.  Remember- every market is different, and every market in each area surrounding Charleston is also different.

Random stats from last week:

  • 165 residential properties under contract past wk. Great buying activity for time of year. But prices continue to fall (like the rest of the real estate markets around the country).
  • 136 single family homes under contract past wk. Median LIST price $180k(low), $94/sqft. 25 under $100k. 7 over $1M.
  • 37(27%) of 136 single family homes under contract past wk were either BANK OWNED FORECLOSURES or SHORT SALES
  • 17 island single family homes under contract past wk: James-6,Folly-1,Johns-3,Seabrk-2,IOP-2,WildDunes-2,Daniel-1
  • 8(44%) of 18 island single family homes under contract past wk were either BANK OWNED FORECLOSURES or SHORT SALES
  • 6 James Island single family homes under contract past wk. LIST prices $150k, $158k, $165k, $200k, $230k, $490k.
  • 15 West Ashley single family homes under contract past wk. Median LIST price $190k, $100/sqft. 11 under $230k. 4 $270k-$670k
  • 13 North Charleston single family homes under contract past wk LISTED from $19k-$230k. Median $100k, $55/sqft. 2 over $134k.
  • 4(31%) of 13 North Charleston single family homes under contract past wk were either BANK OWNED FORECLOSURES or SHORT SALES.
  • 18 Mt Pleasant single family homes under contract past wk LISTED from $220k-$1.8M. Median $388k, $160/sqft. 3 under $131/sqft.
  • 8 Charleston Peninsula single family homes under contract past wk LISTED from $65k-$725k. 4 over $475k. 1 over $220/sqft
  • 37 Summerville/Ladson single family homes under contract past wk LISTED from $23k-$549k. Median $165k, $88/sqft. 7 over $238k.
  • 26 Hanahan/Goose Creek/Monks Corner single family homes under contract past wk LISTED from $45k-$250k. Median $116k, $81/sqft. 1 $200k+
  • 9(35%) of 26 Hanahan/Goose Creek/Monks Corner single family homes under contract past wk were BANK OWNED FORECLOSURES or SHORT SALES.
  • 26 condo/townhomes under contract past wk. 5 LISTED under $100k. 7 from $115k-$130k. 8 from $187k-$240k. 5 from $290k-$365k.
  • 14(54%) of 26 condo/townhomes under contract past wk were either BANK OWNED FORECLOSURES or SHORT SALES.

Lots of opportunity out there right now.  Certain price ranges in Charleston (mainly under 225K on James Island, between 300K and 450K on Mount Pleasant, or under 600K on or very near the ocean) have been very hot.  I'm seeing a seller's market in those price ranges.

For two months in a row, there have been more homes selling than there were last year at this time.

 

  Mike Ciucci Realtor

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.

Mike Ciucci
Carolina One Real Estate

Phone: 843.608.8378
Email: mike@buyingcharlestonrealestate.com

www.BuyingCharlestonRealEstate.com

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