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Josephine Traina Gleason
Office: 843-793-4023
Email: josephine@danielravenelsir.com
Charleston Buyer's Broker Blog
Charleston Real Estate Market

 Charleston Real Estate Market week of March 16, 2010

 

  • 219 properties went under contract last wk. 3rd time this year over 200. Only 7th time since 1/1/09 over 200
  • 5 residential listings over $1M list price went under contract last week. 983 $1M+ residential listings available
  • 184 Single family homes went under contract last wk at median LIST price of $179k(ouch) at $103/sqft. Med yr built 1998
  • 148 active listings in small South of Broad area downtwn charleston. That's almost 2 years of inventory. 6 months inv is healthy.
  • 1371 active listings in Mt. Pleasant. Supply is far too much. 11 months of inventory. Healthy would be 6 months
  • Active median list price in Mt. Pleasant(MLS area 42) $197/sqft. Buyers are purchasing there at LIST price of $147/sqft. Great disparity
  • 232 homes went under contract last wk in Charleston. Most since late 2007. Only 6th time in over 2.5 yrs over 200 in 1 wk

  • Detached homes still 80% of market going under contract while only 67% of active market. Shows condo market is very weak

    Many buyers are out looking at real estate.  With the first-time home buyer credit getting ready to expire April 30th, there should be a last minute rush to get the contracts written by that date, closing no later than June 30, 2010.

    		•
    Posted By - Josephine Traina Gleason - 03/25/2010
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