Broad St. flower boxes by rjones0856 via Wikimedia Commons.
As we close in on the end of July, we thought it would be good to post summaries of other Charleston-area real estate markets for the first half of 2012. If you’re looking to buy or sell a home in the area, check out these numbers, and if you have any questions, don’t hesitate to give Bob Brennaman a call at 843-345-6047 or contact him on the web.
As a whole, Charleston County real estate is performing well. New single-family listings are down by just over 1%, but closed sales are up almost 10% for the year so far. Median price for all of Charleston County is $250,000, and the average price of single-family real estate is $348,021. Both figures are up by around 3% from last year. Sellers are receiving 91% of the asking price for their homes, 2% more than last year. Real estate is moving faster, spending an average of 108 days on the market this year — about a week less than last year. The total number of single-family homes on the market in Charleston County in June 2012 sat at 2,691, down almost 25% from last year’s June inventory of 3,581.
Behind Mount Pleasant, West Ashley was the most active real estate market in Charleston County. Here’s the year-to-date breakdown from the Charleston Trident Association of Realtors for single-family homes:
|
2011 |
2012 |
+ / – |
|
|
New Listings |
643 |
716 |
+11.4% |
|
Closed Sales |
348 |
376 |
+8.0% |
|
Median Sales Price |
$198,384 |
$214,158 |
+8.0% |
|
Average Sales Price |
$208,555 |
$225,462 |
+8.1% |
|
Percent of Original List Price Received |
90.1% |
92.1% |
+2.1% |
|
Days on Market Until Sale |
98 |
95 |
-3.7% |
|
June Inventory of Homes for Sale |
497 |
360 |
-27.6% |
The Greater North Charleston area is another active real estate market within Charleston County, and it is one of the most affordable places in the area to buy a home. Here is the January–June data for single-family properties in the North Charleston area:
|
2011 |
2012 |
+ / – |
|
|
New Listings |
629 |
543 |
-13.7% |
|
Closed Sales |
315 |
335 |
+6.3% |
|
Median Sales Price |
$119,900 |
$120,000 |
+0.1% |
|
Average Sales Price |
$109,785 |
$109,307 |
-0.4% |
|
Percent of Original List Price Received |
90.0% |
90.3% |
+0.3% |
|
Days on Market Until Sale |
89 |
91 |
+2.1% |
|
June Inventory of Homes for Sale |
544 |
345 |
-36.6% |
James Island is a desirable residential area adjacent to both Folly Beach and downtown Charleston. Like the other area’s its real estate market is showing promising signs of recovery. Here are the year-to-date statistics for single-family homes:
|
2011 |
2012 |
+ / – |
|
|
New Listings |
371 |
333 |
-10.2% |
|
Closed Sales |
196 |
195 |
-0.5% |
|
Median Sales Price |
$215,000 |
$225,950 |
+5.1% |
|
Average Sales Price |
$249,435 |
$258,104 |
+3.5% |
|
Percent of Original List Price Received |
87.8% |
91.6% |
4.3% |
|
Days on Market Until Sale |
111 |
108 |
-2.8% |
|
June Inventory of Homes for Sale |
315 |
216 |
-31.4% |
Summerville is Dorchester County’s most active real estate market, and a desirable place to live because of its small-town atmosphere, excellent schools, affordability and close proximity to Charleston. Here’s a look at Summerville year-to-date real estate numbers for single-family homes:
|
2011 |
2012 |
+ / – |
|
|
New Listings |
1,028 |
977 |
-5.0% |
|
Closed Sales |
537 |
543 |
+1.1% |
|
Median Sales Price |
$160,000 |
$169,335 |
+5.8% |
|
Average Sales Price |
$172,591 |
$182,667 |
+5.8% |
|
Percent of Original List Price Received |
91.2% |
93.5% |
+2.5% |
|
Days on Market Until Sale |
105 |
103 |
-2.2% |
|
June Inventory of Homes for Sale |
879 |
605 |
-31.2% |
That about does it for our look at the six-month mark of Charleston-area real estate statistics. Believe it or not, we only skimmed the information available. If you’d like more information on stats for other markets we didn’t mention, such as Hanahan, Goose Creek, Moncks Corner, Johns Island, Seabrook Island or Kiawah, fee free to contact Bob!
