Charleston real estate market report, home prices, January 4, 2009
Prices have been under pressure in the Charleston real estate market for several months due to high inventory levels and declining demand. The median price has been more affected primarily due to more home sales at lower price points and the few short sales that actually close and increasing foreclosures starting to take their toll. Lately, everyone who has been in touch with me regarding buying wants to know how motivated the seller is and how much below list price that they can buy a home for.
I hope you like and find the information to be more helpful by classifying the Charleston real estate market by price range. In addition to all Charleston home sales, classifications include under $300k which is approximately 74.5% of the market, $300 to $600k which is approximately 17% of the market and over $600k which is approximately 8.5% of the market. BTW, how do you like the new gold color for the charts and graphs?
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.
In the graphs below, the blue line represents 2007 and the red line represents 2008 home prices.
