Charleston home sales are up sharply this year
... and most importantly, in all price ranges.
While gathering the statistics for the Charleston real estate market report, I couldn't help but notice the improvement in sales on a year over year basis in both mid priced homes and luxury Charleston real estate. Sales are up a little for entry level priced homes selling for less than $300,000 most likely as a result of the home buyer tax credit due to expire soon. But the improvement in home sales at higher price points indicates that the Charleston market should continue to do well without the tax credit, a concern that many fear is the only thing propping up the housing market.
Here's a quick look at Charleston area home sales in March 2010 compared to March 2009:
Home sales are up 15.71% for all Charleston homes, up 9.13% for homes selling for less than $300,000, up 35.16% for homes selling between $300,000 and $600,000 and are up a whopping 60.00% for homes selling for more than $600,000. We're not out of the woods on the problems in housing yet but the Charleston real estate market has been doing much better than many other places around the country.
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.