Sales Up in the Tri-County Area

Residential Real Estate Sales Up as Spring Buying Season Takes Off

Sales volume up 19% from one year ago

According to preliminary data released by the Charleston Trident Association of REALTORS® (CTAR) 824 homes sold at a median price of $176,825 in March. Sales volume is 19% higher this March and median price is within 4% of where it was a year ago. Preliminary figures for March 2010 showed 691 homes sold at a median price of $185,000. In the last month, sales volume has increased almost 50% and prices climbed 8%.

"Showing such strong sales volume this early in the season is an excellent indicator that potential buyers are recognizing the opportunity and taking advantage of our region’s selection of well-priced homes. We anticipate a busy buying season, and as buyer demand increases, prices should follow suit—particularly as we continue to work through the inventory of distressed properties" said 2011 CTAR President Rob Woodul.

There were 8,663 homes listed as actively for sale with the Charleston Trident Multiple Listing Service as of March 31, 2011.

BERKELEY COUNTY
187 homes sold at a median price of $164,910 in March. These figures represent 29% sales growth and a slight (1%) uptick in prices over March of last year.

CHARLESTON COUNTY
435 homes sold at a median price of $222,000 in Charleston County in March. While sales volume increased about 15%, prices are down about 10% when compared to March of last year.

DORCHESTER COUNTY
165 homes sold at a median price of $154,500 in Dorchester County. This reflects a 16% increase in sales volume and 4% growth in prices as compared to last March.