Charleston real estate market report, home prices, August 26, 2009
It was a good report on sales and inventory yesterday so how are home prices doing in the Charleston real estate market this month. Surprisingly, they slipped a little bit. But as we've cautioned, when the mix of homes sold includes more distressed properties and entry level homes for first time home buyers than mid priced and luxury homes, the prices will tend to reflect a larger decline. Please note that in the Charleston real estate market, homes selling for under $300k now represent over 78% of all real estate activity.
Zillow attempts to gauge what home values are and since they just released their quarterly report, I'll include their data along with a 10 year chart of home values for the Charleston metro region.
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.
Median Prices
Average Prices
Year over year comparison
Zillow home value index (through June 30,2009)
Zillow data shows the Charleston metro area home values have declined by 7.2% in the last 12 months. Home values declined by 10.1% in the City of Charleston, by 13.2% in Mount Pleasant, by 6.4% in Summerville and by 9.0% in Goose Creek. Click here for more.
