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CHARLESTON, SC—(June 12, 2017) According to preliminary data released by the Charleston Trident Association of Realtors® (CTAR) 1,801 homes sold in May in the region. while 1,715 homes sold last May.
Year-to-date, 7,291 homes have sold in the region at a median price of $248,000. Sales volume in the region is up about 8% compared to 2016, with median price about 5% higher than this point last year—growth rates that have remained consistent so far this year.
Inventory has declined about 16% over the last 12-month period, with 5,287 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of the month. While inventory has declined over the year, the number of available homes is slightly higher than last month.
“We’ve kicked off a busy start of the summer buying season” said 2017 CTAR President Dave Sansom. “We had a fairly significant increase in sales from month to month, but the year to date figures are steady and consistent. The interest in our market has only continued to grow in the last 12 months—for reasons on both ends of the spectrum—most people are either moving here for a job or to retire” he said. “That’s keeping a variety of price ranges active and the market incredibly competitive right now.” (Credit: Charleston Trident Association of Realtors – CTAR)