The Bottom of the Charleston Real Estate Market Just Passed You By...

If you're waiting to pull the trigger on purchasing real estate as a buyer here in Charleston SC, should you consider buying now instead of later? I've found some interesting numbers this morning from the Charleston MLS. The numbers speak for themselves. We have a surplus in sold properties in almost every price range for this year, compared to last year.

But now? In this economy?  Yes.

But lets not forget, the tax credit certainly helped boost along what would otherwise be a dreary first quarter (and last year's November and December were strong, which are not represented in this report). But this is certainly interesting, and we'll have to see how the rest of the year plays out. I'll do another report at the end of the year for a look at…

2204 Views, 0 Comments

February Home Sales up 22% for the Charleston Region

According to new data from the Charleston Trident Association of Realtors, homes sales were up 22% in February over last year for the Charleston, SC region.  A total of 509 homes sold in the Charleston area, and this was up from last year’s number at 417 in February of ’09.  The Tax Credit seems to be pushing these numbers.

The median home sales priced did not change much, it was at $179,900 for this February and last year’s was $179,450.  Since the beginning of the year, 851 homes have sold in the Charleston area, while 789 sold last year in the same timeframe.  That’s an increase of 10%.  The median sales price since January is up 5% over what it was last year.

Among the Tri-County area, Charleston County led in price increases and volume for…

2169 Views, 0 Comments

Video Blog on the Latest Charleston Market Info

Updates on the Charleston Real Estate Market

Here is some updated information on the extended Home Buyers Tax Credit, as well as some statistics on how the Charleston real estate market performed as a whole for the end of 2009.  Don't forget, the First Time Home Buyers Tax Credit has been extended until April 30th, 2010.

Play the video to take a look at what the Tax Credit did for home sales in October.  Pretty staggering, really.  Signed purchase agreements were up 67.8% in October from a year ago.

Video provided by the Charleston Trident Association of Realtors.

2325 Views, 1 Comments

Market Update for Charleston, SC Real Estate

The expiration of the federal tax credit for first-time homebuyers still seems to be spurring activity in the Charleston market.  Pending sales were up 23.8% in August, which marked the largest increase in pending sales since 2005.

There are fewer new listings on the market, with 1,583 new listings in August, which is a 6.8% decrease from last August 2008.  This is great news, which means less housing inventory to absorb.

Prices are still in decline, showing a 5.2% drop from last August 2008.  However; this is a smaller decline than seen in prior months, indicating that prices may be a little stronger...slightly.

Here are some visual market stats for you, taken from the Charleston MLS:

3048 Views, 2 Comments