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Charleston home sales and inventory

Inventory remains high throughout the Charleston real estate market and unit sales are still lower on a year over year basis. But the most surprising thing is that the median sales price did not decline and actually went up on a year over year basis.

  • May 07 $205,473
  • May 08 $210,120 up 2.26%

Look for more information on Charleston real estate market conditions in the next few days.

On the following chart, Charleston home sales correspond with the left axis and inventory corresponds with the right axis.

Charleston home sales and inventory

 

Published Tuesday, June 24, 2008 1:00 PM by Howard Arnoff

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# re: Charleston home sales and inventory

Thanks for the detailed statistics.

Aloha,

Keahi

Tuesday, June 24, 2008 2:08 PM by Keahi Pelayo

# re: Charleston home sales and inventory

Keahi, thanks for stopping by from paradise.

Tuesday, June 24, 2008 2:24 PM by Howard Arnoff

# re: Charleston home sales and inventory

Great blog..... and I really enjoyed reading it. I appreciate your effort and the quality of the information you provide.

http://www.johnbeckseminar.com

Wednesday, June 25, 2008 1:34 AM by tax Forclosures

# re: Charleston home sales and inventory

thanks much.

Wednesday, June 25, 2008 4:33 AM by Howard Arnoff

# re: Charleston home sales and inventory

This market is really holding up well.  The number of foreclosures here is significant but still way below other markets that have seen similar gains.  There will be a little thinning out of real property businesses and jobs, probably back to turn of the century numbers.  Those surviving will be those that embrace the changes and not fight for the way it was.  

Wednesday, June 25, 2008 3:19 PM by Charlie

# re: Charleston home sales and inventory

Charlie, wait to you see some of the additional statistics I'm going to be posting in the next few days. It is amazing how the laws of supply and demand don't seem to apply when sales prices of Charleston real estate are calculated.

As to your comment about a lot of foreclosures, I don't really see that many, a few here and there. A lot of sellers are attempting short sales but that isn't the same thing. And if they can't prove a true hardship to the loan mitigation officer, well, it's no sale and foreclosure later.

Wednesday, June 25, 2008 3:47 PM by Howard Arnoff

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