List (asking) price vs sales price April 2008
This is quickly becoming one of my favorite measuring tools for the Charleston real estate market. It's interesting to note that the list or asking price is significantly higher than prices buyers have paid for homes in each classification (the lone exception being the median price for luxury condos).
Please note however, median price is just the middle price of all the available price points and a measure of affordability so you really can't price your home at the median price. The more important concept is to understand what prices home buyers are paying and that is best expressed by the average sales price.
Sellers who are serious about selling and not just listing should be pricing their homes to the current market.
| | Average | Median |
| Single Family Homes | | |
| under 600k | | |
| sold prices last 12 months | $230,954 | $205,000 |
| list prices currently for sale | $273,063 | $239,900 |
| difference | 18.23% | 17.02% |
| over 600k | | |
| sold prices last 12 months | $1,156,888 | $850,000 |
| list prices currently for sale | $1,408,116 | $999,999 |
| difference | 21.72% | 17.65% |
| Condos and Townhomes | | |
| under 600k | | |
| sold prices last 12 months | $211,198 | $180,000 |
| list prices currently for sale | $244,556 | $199,900 |
| difference | 15.79% | 11.06% |
| over 600k | | |
| sold prices last 12 months | $967,683 | $872,500 |
| list prices currently for sale | $1,067,022 | $832,900 |
| difference | 10.27% | -4.54% |