Third Quarter 2011 Residential Market Update
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Uploaded by ChasREALTORS on Nov 3, 2011
An overview of third quarter residential real estate market activity in Charleston, South Carolina.
Pending Sales increased 20.0 percent from the 3rd Quarter of 2010 to arrive at 2,625 for the quarter. Purchase demand is being driven by low rates, bargain deals, and favorable year-over-year comparisons to 2010.
Inventory levels were down 18.9 percent to 7,792 units, while prices are also down from last year, which could simply reflect strong sales activity in the lower price brackets. The Charleston-area's months' supply of inventory has decreased 21% to fall just below ten months worth.
The Median Sales Price decreased 4.8 percent from the 3rd Quarter of 2010 to $183,750.
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