Understanding the market
In the interest of providing everyone valuable information about the market trends affecting Charleston real estate, I have posted the monthly sales figures with comparisons to previous periods. As anyone who hasn't been sleeping under a rock knows, sales have slowed and inventory is up significantly.
If you've been sleeping under a rock, you need to buy, NOW! 
I came across an outstanding post from a fellow Realtor® just down the coast in Savannah GA and the point I took away was that while the media is predicting the imminent demise of home ownership as we know it or even worse, the end of the world, based on historical data, sales in the Coastal Southeast are still reasonably strong, just no where near the astounding numbers from the past few years.
As I pointed out in a previous post, "Existing-home sales eased but prices stabilized as inventories tightened in December, according to the NATIONAL ASSOCIATION OF REALTORS®. Nevertheless, 2006 marked the third highest sales year on record. NAR began tracking home sales in 1968."
So despite the doom and gloom and references to how slow real estate is, some historical perspective is necessary. Thanks, Mike!
Please read this excellent article by Mike Farmer.