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RESIDENTIAL REAL ESTATE MEDIAN PRICE RISES AGAIN AS SALES VOLUME DIPS

(April 11, 2019) - Year-to-date, sales volume is about 5% behind where it was in 2018, while median price is up 4%. So far this year, 3,760 homes have sold at a median price of $270,000. Last year, 3,971 homes had sold at a median price of $259,050.

Inventory data shows 3.3% fewer homes for sale over the last 12-month period, with 5,654 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of March.

“Sales volume softened a bit in March, ahead of what is likely to be a busy spring season for the Charleston regional real estate market” said 2019 CTAR President Edward Oswald. “Inventory is still historically low, and prices continue to climb, which deepens the affordability divide in our region” said Oswald. “While this level of price growth is healthy and sustainable, this market has been on the rise for many years and ongoing price growth does shrink the market for some in terms of what’s attainable” he concluded.

Click Here for Local Neighborhood Stats

2,429

New Listings

↑ 1.7%

$364,200

Avg. Sale Price

↑ 5.0 %

1,591

Sold Listings

↓ 2.8%

52

Days on Market

↓ 3.7%

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