RESIDENTIAL REAL ESTATE SALES POST GAINS IN DECEMBER

According to preliminary data released by the Charleston Trident Association of REALTORS®, 657 homes sold at a median price of $182,000 in the tri-county in December. Those figures represent a 6% increase in sales volume and a 7% decline in prices when compared to December 2009 when 618 homes sold at a median price of $195,534.

“It is encouraging that sales have shown consistent and steady growth—the number of closed transactions increased about 5% over last year. We may see some price softening in the coming year as we continue to work through the surplus of foreclosures that make up a significant part of our local inventory” said 2011 CTAR President Rob Woodul.

There were 8,233 homes actively listed for sale with the Charleston Trident Multiple Listing Service as of December 31, 2010.

A complete recap of 2010 market activity, with specific reports for Charleston, Berkeley and Dorchester counties and reviews of individual MLS areas will be released January 21.

Berkeley County
155 homes sold at a median price of $160,000 in December 2010. Last year, 141 homes sold at a median price of $170,112.

Charleston County
In Charleston County, 353 residential properties changed hands at a median price of $225,000. Last December, 313 properties sold at a median price of $250,000.

Dorchester County
128 homes sold at a median price of $163,250 in December. In December 2009, 146 homes sold at a median price of $167,830.

November 2010 Adjustment
Preliminary numbers reported for November 2010 indicated 588 homes sold at a median price of $189,700. Adjusted numbers now show 611 sales at a median price of $192,000.