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Charleston Area Home Sales Soar 80 Percent
posted 12/10/09
3:33 pm
The organization says this recovery is 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 had been sold at a median price of $185,503 with this month’s numbers reflect an unprecedented 80 percent increase in home sales and the third consecutive month of increases, the realtors organization reports.
In addition the organization says that 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. More information on the new tax credit is available here <http://www.charlestonrealtors.com/internal.asp?catID=19139> .
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.
The following information is provided by the Charleston Trident Association of Realtors:
BERKELEY COUNTY
Home sales in Berkeley County were up 65 percent 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 percent 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 percent 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.
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