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The entire Charleston Market... today. 

2019 rolled in and with it comes new inventory! February saw 15% more new listings hit the market versus a year ago and yet the number of Sold listings is down 15% from this time a year ago. So we have more new inventory and less sales.  

 Is this a sign of the market losing steam or just  your typical seasonal trends?  It's hard to say. I'm seeing a lot of these 'new' listings were on the market last year too. They're just coming back on for another attempt to sell. It's hard to say what percentage are truly 'new inventory'. January typically isn't a bust month for sales plus we had a government shutdown so it's possible the decline in closings could be a result.

What will the Spring bring? That's the $64,000 question. I think this Spring will be very telling in terms of which way the market goes throughout 2019. If we see good demand and absorption of the new inventory then prices should remain steady and perhaps continue to rise. If not, that could be welcome news for Buyers who've been on the fence waiting for better pricing and more options.

Click Here for Local Neighborhood Stats

2,094

New Listings

↑ 15%

$359,792

Avg. Sale Price

↑ 5.1 %

950

Sold Listings

↓ 15%

52

Days on Market

↓ 5.5%

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