Charleston market conditions
Just about everyone is talking about housing, is there a bubble, has real estate hit bottom, how was last year, what will happen in 2007, how about the local market in Charleston. Here is the take from a number of real estate professionals in interviews with the Charleston Regional Business Journal. An excellent read.
“Steady,” “tepid” and “flat” are some of the words real estate experts and economists are using to describe the housing market going into 2007, and some say such a market isn’t all that bad.
Total residential units sold
2006: 16,465
2005: 18,050
Average Selling Price
2006: $291,000
2005: $278,000
Average number of days on the market
2006: 55 days
2005: 47 days
Differential between listing and selling price
2006: 97.2%
2005: 98.1%
Please read the complete story by Kathleen Dayton of the Charleston Regional Business Journal.