Charleston real estate market update, continued good news
More good news is being reported by the Charleston MLS for Charleston home sales in May. Preliminary figures released show 878 sales in May 2010, a 29 percent increase over May 2009.
And even better, monthly sales were the highest since September 2007. And even better still, prices continue a pattern of consistency.
While Charleston home prices never went up as fast or as high as the most overheated real estate markets, they did not collapse like those same markets. Prices did make a round trip higher and back down over the past few years but have steadied lately with the median price practically unchanged from last year, $186,497 in May 2010 compared to $187,000 in May 2009.
Berkeley County was the housing hot spot in the Charleston area with sales up 46 percent and the median price up 10 percent during May. Both entry level homes in the Goose Creek / Moncks Corner area and higher priced homes on Daniel Island continue to be strong this year. Mount Pleasant was the most active area in Charleston County while the Summerville / Ridgeville area led home sales in Dorchester County.