Charleston Residential Real Estate Sales Exceed 1,000 Transactions in June
CHARLESTON, SC—(July 12, 2010) More than 1,000 homes sold in June, marking the highest number of residential real estate transactions in nearly three years. According to the Charleston Trident Association of REALTORS® (CTAR), 1,022 homes changed hands at a median sale price of $185,612 in June. The last time more than one thousand transactions closed was August of 2007.
While the median sales price of $185,612 is approximately 4% lower than last June’s peak price of $192,626, it is consistent with median prices thus far in 2010.
“The most encouraging data are the year-to-date statistics” said Jeremy Willits, CTAR President, “They exemplify the ongoing stability and minimal yet healthy growth of our recovering market—sales volume has been steadily increasing since the beginning of this year and median prices remain firmly in the mid $180-range.”
Year-to-date, 31% more homes have sold than in the first half of 2009, and median prices have remained stable, increasing by a slight 1% margin.
As of June 30, 2010 there were 9,869 homes listed as actively for sale with the Charleston Trident Multiple Listing Service.
Source: Charleston Trident Association of REALTORS
RESIDENTIAL REAL ESTATE SALES REACH HIGHEST LEVEL SINCE SEPTEMBER 2007
CHARLESTON, SC—(June 10, 2010) Preliminary data released by the Charleston Trident Association of REALTORS® (CTAR) shows 878 closings took place last month. This not only marks a 29% increase from the 678 sales in May 2009 but the highest level of closed sales in this region since September of 2007. “We are pleased to see such high sales volume, but it’s equally important that home prices are continuing this pattern of stabilization. So far this year, price fluctuations have been minimal, which is ideal as we see inventory gradually returning to a healthy level” said Jeremy Willits, President of CTAR.
The median sale price for May 2010 settled at $186,497. In May 2009, preliminary reports showed a median sale price of $187,000. Last month, figures showed this year’s lowest median price of $180,175. Year-to-date, 3,277 homes have sold in the Charleston region. This represents a 28% increase in sales activity when compared to the same period last year—at this point in May 2009, 2,553 homes had changed hands.
Mortgage rates remain at historically low levels, currently 4.81% for a 30-year fixed loan. “Low rates and an affordable selection of property should continue to support healthy market activity. This month’s sales show high seasonal activity and the lingering effect of the tax credit, which we anticipate will continue into June and possibly July. We’re optimistic that this is setting the stage for a healthy market in the fall and later months” said Rob Woodul, President-Elect of CTAR.
There were 9,867 properties listed as actively for sale with the Charleston Trident Multiple Listing Service as of May 31, 2010.
Source: Charleston Trident Association of REALTORS
CHARLESTON RESIDENTIAL REAL ESTATE SALES UP 50%, PRICES REMAIN STABLE
CHARLESTON, SC—(May 10, 2010) According to preliminary data from the Charleston Trident Association of REALTORS® (CTAR), 784 homes sold in the region during the month of April at a median sale price of $180,174. That reflects a 51% increase in sales and a stable median price when compared to preliminary figures from a year ago-- 518 homes had sold at a median price of $181,303 in April 2009.
Last-minute contracts had Charleston REALTORS® working late into the night to help buyers meet the tax credit deadline. 351 contracts were placed in the last week of April, with 207 of those signed in the final three days. In the whole of April, 1,160 homes went under contract with an average contract price of $255,817. Although the homebuyer tax credit has come and gone, affordable properties, low interest rates and other buyer incentives have not.
The Palmetto Heroes program provides teachers, firefighters, police officers and EMS provisions including up to $7,000 in down payment assistance to aid in their purchase of a home, and military personnel who served at least 90 days of qualifying duty outside the United States between December 31, 2008 and May 1, 2010 have an additional year to purchase a home and qualify for the tax credit.
Source: Meghan Weinreich - Charleston Trident Association of REALTORS
LOCAL SALES OF EXISTING HOMES OUTPACE NATIONAL SALES
Sales of existing homes in the Charleston market substantially outpaced national trends for the month of February. The National Association of Realtors reported that existing-home sales nationwide rose 7% during February. The local market saw a 40% increase in existing-home sales compared to February 2009. The Charleston Trident Association of Realtors reported that overall home sales during February increased 22% over the same month last year. That figure, which includes existing homes and new construction, was updated to 19% as of Tuesday. Sales of new homes fell 20% locally compared to February 2009, according to data from the local Realtors group.The National Association of Realtors reported that sales of existing homes dropped 0.6% from January to February of this year. Locally, sales of existing homes rose 23% during that time frame.
Source: Ashley Fletcher Frampton - SCBiznews.com
Expect More!
As an agent for one of the most recognized companies in real estate, I am proud to be representing buyers and sellers in residential real estate in the greater Charleston, SC tri-county area. From Charleston to Summerville, Moncks Corner to James Island, the market is changing, and Coldwell Banker United is staying ahead, to better serve our clients. The opportunity to buy with this high inventory of homes and low interest rates is unbelievable! The advantage is certainly with the buyers in the Charleston area.
My services also extend beyond the Charleston, SC area! As a member of the CARTUS Relocation Network, let me find you a qualified agent any where in the country to help make your move an efficient one!
If you are thinking of selling or buying a home, contact me to see if the Coldwell Banker United is the right choice for you! In the mean time, feel free to use this website to search our Multiple Listing Service (MLS) for your next home.
Dan Garrison, REALTOR®
Coldwell Banker United
Mobile: (843) 200-1302
Coldwell Banker United. - 808 Wappoo Road - Charleston, South Carolina 29407 -
Office: (843) 225-6001 - Mobile: (843) 200-1302 - Fax: (843) 266-6088
E-mail me anytime at Dan.Garrison@CBUnited.com