Charleston County Home Sales Double Over 2008 Levels, Leads Regional Recovery
The Charleston-area residential real estate market continues to show signs of a strong recovery. Led by incredibly strong sales in Charleston County, preliminary data from the Charleston Trident Association of REALTORS® showed 783 closed transactions in November, with a median sale price of $173,000.
As of December 10, 2008, 435 properties were sold at a median price of $185,503. This month’s numbers reflect an unprecedented 80% increase in sales and the third consecutive month of increases.
This type of activity is uncharacteristic for November, and likely attributable to the passing of the original homebuyer tax credit deadline, which was November 30. The tax credit deadline has been extended to April 30, 2010 and expanded to include provisions for existing homeowners inventory sits at this year’s lowest level, with 9,429 properties listed as “active” with the Charleston Trident Multiple Listing Service, as of November 30, 2009.
To learn more about the tax credit check out this article in my blog: http://www.carolinajoe.com/blog/index.cfm/2009/11/12/HOMEBUYER-TAX-CREDIT-SUMMARY
BERKELEY COUNTY
Home sales in Berkeley County were up 65% in November, with 196 sales at a median price of $154,700, compared to November 2008’s 119 sales at $170,000.
CHARLESTON COUNTY
Charleston County showed the greatest gains in the region during the month. Sales doubled over last year, and median prices are within 1%of 2008 levels. 361 properties changed hands in November at a median price of $225,000, in stark contrast to 2008’s 170 sales at a median price of $227,738.
DORCHESTER COUNTY
Sales continued to be strong in Dorchester County, up 42% year-over-year. 199 properties sold at a median price of $150,000 this month, compared to 140 properties at a median price of $169,995 in 2008.
As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.
To look for homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/
View my entire inventory of VisualTours at http://www.visualtour.com/inventory.asp?U=182210
Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
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