Berkeley County Activity Leads to Increased Home Sales in March
CHARLESTON, SC— According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,110 homes sold at a median price of $219,316 in March. Last March, 1,075 homes sold at a median price of $200,789 in the region.
Inventory increased significantly in March–there are currently 5,873 homes listed as ‘active’ for sale in the Charleston Trident Multiple Listing Service (CTMLS). Last March there were 5,745 homes available and last month, 5,565. A growing inventory will supply interested buyers with more choices and keep prices from inflating on an unrealistic basis.
“As the spring buying season begins, the expected trend has continued—a small but sustainable increase in sales” said 2014 CTAR President Corwyn Melette. “The additional inventory will result in more interested buyers and help keep our market stable over the next few months. The substantial sales gains this month in Berkeley County were supported by a concentration of activity in the new Cane Bay Plantation and Daniel Island as well” said Melette.
February Adjustment
Preliminary data reported for February 2014 indicated that 791 homes sold at a median price of $210,000. Adjusted figures now show 813 homes sold a median price of $207,000.
Berkeley County
248 homes sold at a median price of $176,601 in Berkeley County in March. Last March, 201 homes sold at a median price of $168,000. The most active area in the county was in the North area bordered by Jedburg Road, Highway 17A and College Park, with 59 sales at a median price of $171,500.
Charleston County
In Charleston County in March, 626 homes sold at a median price of $280,000. Last March, 649 homes sold at a median price of $245,000. 210 homes sold in Mt. Pleasant at a median price $390,633. Other top areas were West Ashley (outside I526) with 77 sales at a median price of $219,000 and North Charleston (outside I-526) with 64 sales at a median price of $131,295.
Dorchester County
191 homes sold at a median price of $159,000 in March in Dorchester County. Last March, 189 homes sold at a median price of $162,500. The most active area was Summerville/Ridgeville, where 85 homes sold at a median price of $173,000.
-Market Reports from Charleston Trident Association of Realtors
The lure: A coastal city with thousands of miles of waterways, historic Charleston has a lovely year-round climate that allows for outdoor recreation of all types. But beyond the beauty, Charleston has emerged as a surprising economic success story that is luring East Coast-based buyers. Over 250 small-scale tech and digital companies have set up home in the Charleston area, making it one of the 10 fastest growing cities for software and Internet technologies in the nation. “Charleston is a big city that ‘lives’ like a small town,” says Ruthie Ravenel, an agent with Sotheby’s affiliate Daniel Ravenel Real Estate.
Key developments: Along with the Upper King Street corridor, Ravenel points New Yorkers toward Halsey Park, a new community being sold in Harleston Village. “The plan features row houses with private rooftop decks and harbor views.” This is one of the last developments in the heart of downtown Charleston, she notes. Row houses are all priced in the $1.4 million range. In the historic core, prices can easily top $10 million.
Read The Full article;
http://nypost.com/2014/04/08/the-20-hottest-real-estate-spots-in-the-world/
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