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:
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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:
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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!
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