October 2008 Charleston housing report
I'm introducing a new feature every month on or around the 10th of the month, an early look at the past month's housing activity throughout the Charleston real estate market.
You'll be able to view the number of sales, average sale price, median sold price and the absorption rate for the month compared to that same month in the previous year as well as for the past 12 months compared to the previous 12 months. As always, there will be additional sales reported for the month during the next few weeks as Charleston real estate agents continue to enter sales data into the Charleston MLS.
With the turmoil in the financial markets accelerating after Labor Day, it would have been easy to forecast that October would be a difficult month with expected declines in sales and prices. And with fewer sales and continued high levels of inventory available for sale, the absorption rate now stands at 20+ months.
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.
