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Charleston home prices

Amazing is about the only word I can use to describe Charleston home prices. After calculating the statistics, I had to double check my figures because I couldn't believe it when I noticed price increases since anecdotal evidence seemed to point toward lower prices and there is still high levels of inventory and fewer sales on a year over year basis.

Mark Twain once said, "figures don't lie but liars figure".

No lie Wink and I'm not figuring Wink

On a year over year basis, the median sales price increased by 2.26% and the average sales price increased 2.72% for all properties sold in Charleston. Below is a chart with the 12 month Charleston home price trend (median is red and average is blue).

Charleston South Carolina real estate home prices

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

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# re: Charleston home prices

Sir,

Your numbers are wrong.  You need to double check them.

Friday, July 11, 2008 8:45 AM by JC

# re: Charleston home prices

and what are the right numbers?

Friday, July 11, 2008 9:43 AM by Howard Arnoff

# re: Charleston home prices

Look in todays paper.

Friday, July 11, 2008 8:07 PM by JC

# re: Charleston home prices

You have the wrong month. The newspaper is reporting June and this post was for May sales.

But as long as you bring the subject up, median price on a year over year basis is not exactly the best measure to analyze pricing. The mix of homes one year and the mix of homes the next year causes the median price to swing. Long time readers of this blog will know this.

And I'll be happy to post the June median numbers at the end of the month as always.

Saturday, July 12, 2008 5:11 AM by Howard Arnoff

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