Charleston real estate market report, April 2008 home prices
While anecdotal evidence continues to show downward pressure on home prices in the Charleston real estate market, the statistics haven't confirmed any sharp home price declines as yet. As always, I use a running 12 month average for the past 12 months compared to the previous 12 months for both average and median prices. In fact, believe it or not, we are seeing price increases in some classifications on a year over year basis. But for those who want to see price declines, the median home price declined from $210,000 in April 2007 to $199,990 in April 2008. I do predict further declines in the median price as a reflection of more sales in lower priced homes than sales of higher priced properties.
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.
