Charleston real estate market report, February 2008, inventory
Inventory in the Charleston real estate market continues to be high but has declined slightly from the peak reached last summer for all properties under $600,000. There is so much inventory in the Charleston luxury real estate market that the absorption rate can be better measured in years rather than months.
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.
Monthly inventory and absorption rate, single family homes
| Month | Inv 06 | Mo 06 | Inv 07 | Mo 07 | Inv 08 | Mo 08 | 07 to 06 | 08 to 07 |
| under 600k | | | | | | | | |
| Jan | 2934 | 4.21 | 4643 | 7.24 | 4743 | 10.85 | 58.25% | 2.15% |
| Feb | 3158 | 4.01 | 4789 | 6.59 | 4891 | 10.47 | 51.65% | 2.13% |
| Mar | 3374 | 3.20 | 5026 | 5.47 | | | 48.96% | |
| Apr | 3648 | 4.23 | 5248 | 7.35 | | | 43.86% | |
| May | 3751 | 3.55 | 5419 | 6.24 | | | 44.47% | |
| June | 4001 | 3.34 | 5547 | 6.02 | | | 38.64% | |
| July | 4308 | 4.64 | 5516 | 7.17 | | | 28.04% | |
| Aug | 4524 | 4.85 | 5598 | 6.91 | | | 23.74% | |
| Sep | 4670 | 4.61 | 5516 | 8.28 | | | 18.12% | |
| Oct | 4808 | 6.45 | 5376 | 9.08 | | | 11.81% | |
| Nov | 4762 | 5.79 | 5236 | 8.38 | | | 9.95% | |
| Dec | 4605 | 5.74 | 4985 | 9.13 | | | 8.25% | |
| over 600k | | | | | | | | |
| Jan | 806 | 9.16 | 1410 | 21.69 | 1781 | 37.89 | 74.94% | 26.31% |
| Feb | 889 | 12.70 | 1537 | 30.74 | 1882 | 47.05 | 72.89% | 22.45% |
| Mar | 983 | 8.06 | 1653 | 17.22 | | | 68.16% | |
| Apr | 1070 | 10.49 | 1750 | 22.73 | | | 63.55% | |
| May | 1186 | 8.98 | 1849 | 20.32 | | | 55.90% | |
| June | 1275 | 10.28 | 1861 | 17.72 | | | 45.96% | |
| July | 1368 | 13.68 | 1862 | 24.50 | | | 36.11% | |
| Aug | 1419 | 12.78 | 1832 | 18.14 | | | 29.11% | |
| Sep | 1416 | 16.09 | 1825 | 35.10 | | | 28.88% | |
| Oct | 1437 | 15.45 | 1865 | 41.44 | | | 29.78% | |
| Nov | 1446 | 21.58 | 1819 | 37.90 | | | 25.80% | |
| Dec | 1410 | 22.03 | 1788 | 37.25 | | | 26.81% | |
Monthly inventory and absorption rate, condos and townhomes
| Month | Inv 06 | Mo 06 | Inv 07 | Mo 07 | Inv 08 | Mo 08 | 07 to 06 | 08 to 07 |
| under 600k | | | | | | | | |
| Jan | 1074 | 3.53 | 2334 | 15.99 | 2310 | 26.55 | 117.32% | -1.03% |
| Feb | 1537 | 6.08 | 2439 | 15.34 | 2384 | 18.48 | 58.69% | -2.26% |
| Mar | 1619 | 4.60 | 2533 | 10.92 | | | 56.45% | |
| Apr | 1561 | 3.78 | 2661 | 11.13 | | | 70.47% | |
| May | 1836 | 4.88 | 2725 | 8.85 | | | 48.42% | |
| June | 1933 | 6.30 | 2677 | 9.17 | | | 38.49% | |
| July | 2130 | 6.38 | 2617 | 10.34 | | | 22.86% | |
| Aug | 2154 | 7.25 | 2605 | 12.52 | | | 20.94% | |
| Sep | 2237 | 8.13 | 2629 | 14.13 | | | 17.52% | |
| Oct | 2441 | 9.88 | 2563 | 12.44 | | | 5.00% | |
| Nov | 2419 | 12.03 | 2495 | 14.26 | | | 3.14% | |
| Dec | 2343 | 10.06 | 2391 | 18.98 | | | 2.05% | |
| over 600k | | | | | | | | |
| Jan | 148 | 5.48 | 339 | 30.82 | 462 | 33.00 | 129.05% | 36.28% |
| Feb | 163 | 7.09 | 369 | 46.13 | 473 | 31.53 | 126.38% | 28.18% |
| Mar | 190 | 8.26 | 414 | 23.00 | | | 117.89% | |
| Apr | 222 | 10.09 | 417 | 37.91 | | | 87.84% | |
| May | 235 | 8.39 | 431 | 39.18 | | | 83.40% | |
| June | 281 | 12.77 | 446 | 29.73 | | | 58.72% | |
| July | 304 | 27.64 | 464 | 22.10 | | | 52.63% | |
| Aug | 322 | 20.13 | 477 | 34.07 | | | 48.14% | |
| Sep | 346 | 38.44 | 482 | 16.62 | | | 39.31% | |
| Oct | 365 | 17.38 | 476 | 22.67 | | | 30.41% | |
| Nov | 364 | 45.50 | 501 | 45.55 | | | 37.64% | |
| Dec | 361 | 30.08 | 474 | 43.09 | | | 31.30% | |
The "Current Inventory" (inv) column reflects the number of active listings on the market on the 16th day of each Month. The "Months of Inventory" (mo) column is equal to the current Inventory divided by the monthly sales. This reflects how many months it would take to sell out of inventory at the current month’s rate of sale. It can also be referred to as the absorption rate.