According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,358 homes sold at a median price of $215,000 in August. Last August, 1,318 homes sold at the same median price. Year-to-date, 9,431 homes have sold at a median price of $215,500 – a reflection of steady growth when compared to last year, when 8,706 homes had sold at a median price of $205,417.
“The summer months were, as expected, a period of steady, sustainable growth” said 2014 CTAR President, Corwyn Melette. “About 40% of sales for the year close during the summer, and this summer, sales activity and price growth has our market well-positioned for a strong finish to 2014” Melette said. From May through August 2014, home sales increased 5% and median price increased at a sustainable, healthy 2% growth rate. 5,548 homes sold at a median price of $216,231 in the region this summer.
At the end of August, there were 5,961 homes classified as active for sale in the CTMLS. At this time last year, there were 5,702.
July Adjustment
Preliminary data reported for July 2014 indicated that 1,380 homes sold at a median price of $216,150. Adjusted figures now show 1,430 homes sold at a median price of $213,750.
Berkeley County299 homes sold at a median price of $181,950 in Berkeley County in August. The most active area in the county was the North area bordered by Jedburg Road, Highway 17A and College Park, with 72 sales at a median price of $184,388.
Charleston County
During August in Charleston County, 727 homes sold at a median price of $278,180. As the largest geographic area, the Mount Pleasant market closed the most sales, with 235 homes sold at a median price of $388,750. However, after nearly half a year of West Ashley leading Charleston County sales (outside of Mount Pleasant), James Island took the top spot with 101 homes sold at a median price of $270,00 in August.
Dorchester County
257 homes sold at a median price of $182,000 in August in Dorchester County. The most active area was Summerville/Ridgeville, where 114 homes sold at a median price of $207,500.
Bottom line, the Charleston Real Estate Market is still strong and stable. Fall is here but that does not mean the buying season slows down in the Lowcountry.
Thinking of selling your home? Give me a call as it is a great time to sell!
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