Charleston Real Estate Blog

A reader yesterday pointed out that my statistics were wrong. Apparently, he/she read in the Charleston Post and Courier that the median price of homes declined in June by 7.2% on a year over year basis from $215,000 in June of 2007 to $207,250 in June of 2008. The post my reader was questioning however was for the month of May when the median ...

I recently wrote a post stating that Case-Shiller is wrong. The point was that housing price declines were being overstated in the Case-Shiller index using only the 20 largest markets including many of the previously most overheated markets. Take a look at this map from PMI Mortgage Insurance and the accompanying chart showing the 12 ...

On vacation but I thought I would post a "best of". From the very early days of the housing crisis, a look at how statistics are presented by the media which almost creates a self fulfilling prophecy. Please read Median Price vs Average Price.

Sometimes you just can't make stuff up. All the talk in the media is how home prices are dropping faster than a rock. And we're talking about a big rock, more like a boulder running downhill. Yet the Charleston real estate market continues to defy gravity with prices actually increasing despite fewer sales and continued high ...

Inventory remains at high levels and is increasing once again across all housing classifications. Until inventory is reduced, there will be significant pressure on prices and buyers will continue to have a wide choice of properties to choose from. Please note that there were a lot of late data entries of sales of luxury condos which you'll ...

Amazing is about the only word I can use to describe Charleston home prices. After calculating the statistics, I had to double check my figures because I couldn't believe it when I noticed price increases since anecdotal evidence seemed to point toward lower prices and there is still high levels of inventory and fewer sales on a year ...

... about the prices of homes. Take a look at this headline and read the story at MarketWatch.   I would suggest that using the data from the 20 largest housing markets including the formerly most overheated markets in California, Florida, Phoenix and Las Vegas is not representative of the country as a whole. A 17.8% decline in the ...

Inventory remains high throughout the Charleston real estate market and unit sales are still lower on a year over year basis. But the most surprising thing is that the median sales price did not decline and actually went up on a year over year basis. May 07 $205,473May 08 $210,120 up 2.26%Look for more information on Charleston real estate market ...

97.53% of all home are not in the foreclosure process. That wouldn't make a very exciting headline would it? On a more serious note, here are the latest foreclosures facts for the 1st Quarter of 2008 according to the Mortgage Bankers Association (MBA).1st Q 2008 2.47%4th Q 2007 2.04%1st Q 2007 1.28%Foreclosure activity increased 21% from the ...

While anecdotal evidence continues to show downward pressure on home prices in the Charleston real estate market, the statistics haven't confirmed any sharp home price declines as yet. As always, I use a running 12 month average for the past 12 months compared to the previous 12 months for both average and median prices. In fact, believe it or ...