As Affordability Increases, Potential Buyers Show Interest

BUYER INTEREST ON THE RISE, DESPITE WEAK SALES IN JANUARY

CHARLESTON, SC—(February 10, 2009) Sales and median home values slipped in the month of
January, though potential buyer activity increased significantly. According to data from Centralized Showing Service (CSS), residential showings were up 74% over last month, with 18,112 showings for the month.

A total of 372 homes sold in the tri-county area during the month of January, with a median price of $176,750. The most active price range was the $120-180,000 bracket, with 127 sales at that level. Charleston County posted the highest sales, with 193 closed transactions and a median sale price of $235,000.

Berkeley County closed the month with 96 sales and a median sale price of $172,000. Dorchester
County shows a median price of $151,500 based on 69 closed transactions.
Downtown Charleston residential properties continued to show the promise of a rebound, posting the second consecutive month of gain, with a median price of $465,000. James Island and West Ashley also saw median price increases from December, up 19% and 8%, respectively.

There are 9,903 homes currently listed for sale with the Charleston Trident Multiple Listing Service.

With approximately 3,800 members, CTAR’s mission is to promote the highest standards of professionalism, ethics, education and technology, and to ensure that its members are the primary source for real estate services in the South Carolina Low Country. Only those who are members of the Association of REALTORS ® and its parent organizations are called REALTORS®.

If you have questions regarding real estate in the Lowcountry, please feel free to call or e-mail.