We all knew it was strong, but wow – the final figures are in from the Charlestson Trident Association of Realtors and an article from Warren Wise of The Post and Courier: total sales for 2015 were 16,202 and a median price of $229,000, up 13.7% and 6.5%, respectively. In December alone, sales were up 9%. Expert’s biggest concern – less than 5k homes are available for sale, down from 9,100 in 2010, and pricing beyond what a lot of people can afford.
CharlestonCREblog comment: This is all good news for apartment owners as the jobs growth continues, and this all means more renters.
The local CHS residential real estate market continues to remain red hot. Sales volume is up 19.4% for the first five months of 2015 as compared to the same period last year, and prices are up 8.0%, with the median price now at $235,000. The CHS Metro Chamber of Commerce estimates 43 people move to the CHS region every day. The strongest areas of demand: in Charleston County, Mount Pleasant; in Berkeley County, around Summerville; and in Dorchester County, in Ridgeville, where the new Volvo plant was announced. Warren Wise has the story here for The Post and Courier.
For the first time since 2006, February home sales hit four digits, up 19% from February 2014, and with a median price of $212k. Warren Wise of The Post and Courier has the February update from the Charleston Trident Association of Realtors.
Almost 900 homes sold in January 2015, making it the biggest January for Realtors since January 2007. The even better news is inventory is down 37% from then, and thus balance, or dare say, a shortage. Ashley Heffernan of The CHS Regional Business Journal has the story and the statistics.
Warren Wise of The Post and Courier reports the CHS Trident Association of Realtors says the median home price in CHS rose 4.9% and the average home price increased 8.3% from last January.
The Charleston Trident Association of Realtors is out with their YTD 2014 market report and statistics and the news continues to be encouraging – for sellers and owners, that is, not so much for buyers. Overall, closed sales are up 9.6%, the median sale price is up 3.9%, and inventory is down 5.4%. Some of the stats:
– New Listings YTD (Jan-Sept 2014, as compared to Jan-Sept 2013) – up 2.9% (to 1,479 in Sept 2014)
– Pending Sales YTD – up 35.6% (to 1,284)
– Closed Sales YTD – up 9.6% (to 1,238)
– Days on Market – down 6.2% (to 71 days)
– Median Sales Price – up 3.9% (to $215,000)
– Average Sales Price – down 5.4% (to $279,089)
– 12-month Rolling Average Sales Price – up 4.1% (to $292,065)
– Percent of Original List Price Received – up .5% (to 95.3%)
– Housing Affordability Index – down 2.9% (to 132)
– Inventory of Homes For Sale – down 5.4% (to 5,997)
– Months of Supply of Homes for Sale – down 14.1% (to 5.2)
The Post and Courier’s Jim Parker offers an article on the rebounding (er, rebounded) high-end housing market. Some interesting stats: 1) there are some 634 home listings in Charleston Trident Association of Realtors’ online property search from $1M to $3.5M; 2) 49 are between $3.5M and $10M; 3) two are above $10M; 4) 61 homes sales above $1M thus far in 2014 (40% more than mid-2013′ stats) and that is just those south of the Crosstown, and 17 of those are more than $2.5M; and, 5) currently there are 147 homes for sale above $1M and south of the Crosstown. One realtor attributed the high-end boom and recovery to: “nationally recognized restaurants, thriving creative arts and tech scenes, and carefully preserved historic district, downtown Charleston offers a rare combination of beauty and charm, walkability, living history and sophistication.”
With just over 6,600 homes sold thus far in 2014, the CHS residential market continues to improve, with 8% more homes sold in June 2014 vs June 2013 and the median price up 4%, to now at $227,500. Experts say the growth is more sustainable than the “crazy” spike we saw of 22% in mid-2013 compared to mid-2012. The Post and Courier’s Tyrone Richardson has the brief article.
Although February was slow amid some signfiicant local weather challenges, home sales thus far in 2014 in the CHS region continue to forge ahead, with homes sales up 14% from the Jan-Feb time period of 2013. Home prices are also up, 10% over the same period. Tyrone Richardson of The Post and Courier has the story.