Charleston Area Real Estate – Recent Stats -3rd Quarter- 2014

Recent Sales Data from Charleston Trident Association of REALTORS®  

Strong Activity in Berkeley and Dorchester Counties Help Push Year-to-Date Home Sales Past 10k Benchmark in September

CHARLESTON, SC—(October 10, 2014) According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,293 homes sold at a median price of $214,500 in September. Last September, 1,157 homes sold at a median price of $205,000.

Significant sales gains in Berkeley and Dorchester Counties bolstered the increased activity this month. The availability of new construction in both these Counties seems to be, at least in part, supporting this surge of activity. In Dorchester County, robust sales in the Summerville/Ridgeville area accounted for nearly half of the County’s transactions, buoyed by new construction sales in Drakesborough and The Ponds.

Year-to-date, sales are about 6% ahead of this point last year—a healthy and sustainable level of growth. “The steady growth in sales so far this year is a good indicator of the health of our market” said 2014 CTAR President, Corwyn Melette. “Median Sale Price has risen as well, just under 6%, and should be sustainable as we continue to see more companies moving to or establishing themselves in our area, bringing more jobs and investing in the Charleston region” Melette said. Year-to-date, 10,416 homes have sold in the region at a median price of $217,267.

At the end of September, there were 6,040 homes classified as active for sale in the CTMLS. At this time last year, there were 5,676.

August Adjustment
Preliminary data reported for August 2014 indicated that 1,358 homes sold at a median price of $215,000. Adjusted figures now show 1,381 homes sold at a median price of $214,500.

Berkeley County
303 homes sold at a median price of $177,775 in Berkeley County in September. The most active area in the county was the North area bordered by Jedburg Road, Highway 17A and College Park, with 80 sales at a median price of $191,470.

Charleston County

During September in Charleston County, 660 homes sold at a median price of $277,663. Outside of Mount Pleasant, West Ashley (outside I-526) was the most active area, with 96 sales at a median price of $235,059.

Dorchester County

249 homes sold at a median price of $189,900 in September in Dorchester County. The most active area was Summerville/Ridgeville, where 140 homes sold at a median price of $209,157.