Welcome to the Charleston real estate blog, your place for Charleston real estate news and living in Charleston, Charleston real estate market conditions and housing market trends and analysis, Charleston community and neighborhood information, events and happenings and tips for buyers and sellers.
Despite declining unit sales and higher levels of inventory, Charleston real estate prices have remained persistently stable on both an average sale and median sale basis.
Looks stable...but there are some sharks in them waters...
JS, liars figure and figures lie.
All I can say is that Charleston real estate market conditions are much better than many other places in the country. It does *not* mean that there aren't problems here, simply that the extent of the problems are not as dire as elsewhere.
Having said that, when you have over 1000 properties listed for sale at $1 Mil plus, a *mere* 4 year supply at current sales rates, something has to give and what will give is either price or listings being withdrawn from the market.
I think price will win out. There will be value and bargains for those with credit and cash.
Buy low, sell high, not the reverse.
If the market stays above the 2005 median(and I think it will) that will speak volumes for the Charleston area. Thanks for this great blog.
Charlie, median really doesn't matter because you can't buy a median house. It simply is the middle number of all the recorded sales. However, that is the number that everyone seems to focus on and it is supposedly a measure of affordability.
But thanks very much for the compliment and I certainly hope you are right. As to me, I would rather be selling real estate in the Charleston real estate market than many other markets around the country.
And more importantly, I had a choice to live anywhere in the country but I chose to live in Charleston. To me, that speaks volumes.
