Charleston Real Estate Blog

In what shouldn't be much of a surprise, Bloomberg reports that, "Residential real estate prices fell more than forecast in November, showing distressed properties are hampering improvement in the US housing market. The S&P Case-Shiller index of property values in 20 cities declined 3.7 percent from November 2010 after decreasing 3.4 ...

As a follow up to the Charleston real estate market report posted the other day, here is a chart of Charleston monthly home sales by price range. For homes selling for $300,000 and under, sales were 6.5 percent higher in 2011 than 2010. For homes selling between $300,000 and $600,000, sales were 7.75 percent higher year over year and for homes ...

One word to describe the Charleston real estate market for 2011 is GOOD. Home sales were higher year over year, inventory of homes available for sale has been trending down and is at its lowest level in almost 5 years and prices, while down were only slightly lower. And December was an absolutely outstanding month with sales sharply ...

I noticed a good news headline yesterday. Writing for USA Today. Julie Schmit reports that the housing outlook is more upbeat.“Home sales and home building are forecast to rise this year after sliding steeply the past five years in housing's worst downturn since the Great Depression. Recovery is expected to be slow, and home prices are ...

Based on the median sales price, the Charleston real estate market is showing the famous "double dip" in home prices. The median price is affected by the mix of homes sold and when more less expensive homes sell, the median price will decline and due to a high number of distressed sales in the Charleston area including ...

The National Association of Realtors (NAR) today revised downward existing home sales by 14.3 percent from 2007 through 2010. Two unfortunate results will probably be the loss of a little credibility for NAR along with screaming headlines in the media that the housing downturn was even worse than previously reported. The ...

One of the most important trends this year in the Charleston real estate market has been lower inventory levels of homes for sale in Charleston. From very low levels during 2003 through 2005, inventory soared during 2006 and 2007 peaking in 2008 at the height of the financial crisis and has slowly declined starting in 2009 and continuing through ...

Bad news is good news for mortgage rates. Courtesy of Bankrate, here is a one year chart of the 30 year fixed rate conventional mortgage and as you can clearly see, the trend has been your friend in the last year whether you are buying or refinancing a home in Charleston.  With the sovereign debt crisis in Europe driving investors into ...

As we've seen all year, November turned out to be another good month for the Charleston housing market. Home sales in November were 5 percent higher than November of 2011 and we are all but virtually assured that sales in 2011 will be higher than last year. Both the median and average price in November were very comparable with last ...

A tale of distressed property in Charleston that illustrates the point that home values sometimes decline far more than the average because this home appears to be back to where it sold around 2002. Now, you don't really know what the condition of the property is that caused the price to be what I think would normally be pretty much below ...