Charleston real estate market report, sales and inventory, July 31, 2009
Right on time to report the best numbers of the year for housing in the Charleston real estate market (and yes, seasonal factors do influence higher sales and as you'll see tomorrow, higher prices). Nonetheless, trends are improving across the board.
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.
Charleston homes sales
2007 blue | 2008 red | 2009 yellow
Inventory and absorption rate
Inventory is represented by the red line and corresponds to the left axis, the absorption rate is represented by the blue line and corresponds to the right axis.
The current inventory (inv) column reflects the number of active listings on the market on the 16th day of each month. The months of inventory (mo) column is equal to the current inventory divided by the monthly sales. This reflects how many months it would take to sell out of inventory at the current month’s rate of sale. It can also be referred to as the absorption rate.