Are We in A Sellers Market in Charleston?
Let's take a look at the recent statistics that have come out regarding the Charleston real estate market. A few notes to consider and look at:
The "Sellers Market" areas are highlighted in yellow and have increased in the below $250,000 ranges, indicating an average of 4month absorption rate and the $250,000-$500,000 ranges indicate an average of 5month absorption rate, based on the recent past sales history. See below:
The following is the latest Quarterly Report for Charleston shows the latest residential statistics for the Tri-County area of Charleston:
The Supply and Demand - shows below the $450,000 price range there is more demand (buyers) than supply (listings), with generally a 4-5 month absorption rate. This information is also available for you via email if you wish (just ask). Mt. Pleasant (41-42) for example, has more demand for homes below $600,000 than there is supply, with a 2 month absorption rate for those:
All in all, right now we are seeing a healthy real estate market here in Charleston, with the sub-300K price ranges certainly showing a "Sellers Market". Are you interested in what your home value is? Click here to find out what your home value is!
Mike Ciucci specializes in the Charleston SC real estate market. He has been a Charleston resident for over 35 years, focusing on quality and attention to detail his clients have come to expect.