Charleston Real Estate Market Continues Positive Progress

 

 

Charleston Real Estate Market Continues Positive Progress

Year-to-date figures show 12% sales growth, 4% increase in prices

CHARLESTON, SC—(November 13, 2012) According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 898 homes sold at a median price of $185,112 in October. These figures, representative of all homes sold through the Charleston Trident Multiple Listing Service (CTMLS), show a 34% increase in sales volume and a slight 2% decline in prices when compared to preliminary figures from October 2011.

Year-to-date figures demonstrate continued positive progress for the local real estate market: 8,794 homes have sold at a median price of $187,597 thus far in 2012. At this point last year, 7,827 homes had sold at a median price of $179,925. This year’s figures show 12% growth in sales volume and a healthy, sustainable 4% growth in median price.

At the National Association of REALTORS® (NAR) annual conference in Orlando this week, chief economist Lawrence Yun forecasted that nationwide, both home sales and prices will continue to trend upward over the next two years, predicting that the national median home price will have risen by 15% by 2015.

However, Yun warned of looming inflation, which could double in the coming years. Recent inflation has increased by about 2% per year. 2012 CTAR President Herb Koger agrees with Yun's concerns, saying “Mortgage rates have remained at historic lows for so long, they will have to go back up at some point. The combination of rising home prices, the inevitable increase in mortgage rates and a declining inventory will make it tougher in the coming years for those who are currently renting but hope to buy" Koger said. Strict lending qualifications continue to be an issue for many prospective homeowners, as well. Many credit markets are too tight to accommodate those who want to take advantage of today's prime buying environment.

While the region's overall inventory remains in a healthy decline, there are subsets of the market with more than enough property to go around. "Areas like James Island, West Ashley and parts of Mount Pleasant have overall, very low inventory that at a glance, puts them clearly in seller's market territory. However, when you look at more expensive homes, in the $400,000 and up range, for example, there is significantly more, even double, the rate of inventory" said Koger. As of October 31, 2012 there were 6,030 homes listed as actively for sale with the CTMLS.

“Overall, the Charleston region has performed incredibly well in 2012, and we expect this progress will continue. We live in a highly desirable area which is becoming increasingly attractive to businesses and corporations as well as homeowners” said Koger.

SEPTEMBER ADJUSTMENTPreliminary data reported for September 2012 indicated that 876 homes sold at a median price of $190,000. Adjusted numbers now show 885 homes sold at the same median price.

BERKELEY COUNTY

206 homes sold at a median price of $157,495 in October. Last October, 166 homes sold at a median price of $168,217. The most active area of the County is bordered by Jedburg Road, Highway 17A and College Park, where 68 transactions closed at a median price of $150,620. Year-to-date, the County’s sales volume has increased a healthy 3% and prices 4%. Thus far in 2012, 1,898 homes have sold at a median price of $163,443 in Berkeley County.

CHARLESTON COUNTY

489 homes sold in Charleston County in October, at a median price of $225,000. This represents an increase of more than 100 sales when compared to last October, when 346 homes sold at a price of $227,000. Outside of the County’s largest geographic area of Mount Pleasant, the most active areas were West Ashley (outside of I-526) and James Island. 61 homes sold at a median price of $205,475 in the outermost part of West Ashley, while 54 sales on James Island resulted in a median price of $223,250. Year-to-date, the County is leading the local market recovery, with a 19% increase in sales volume and a 2% increase in median price. Nearly 5,000 homes have sold in Charleston County in 2012, at a median price of $225,000.

DORCHESTER COUNTY

173 homes sold in Dorchester County at a median price of $167,500 in October. Last October, 140 homes sold at a median price of $155,950. The most active area of Dorchester County in October was the Summerville/Ridgeville area, where 71 sales resulted in a median price of $201,575. Year-to-date, Dorchester County is showing stability, with 5% and 6% increases in sales and median price, respectively. 1,596 homes have sold at a median price of $167,361 in 2012.

 

With approximately 3,600 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 Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com.

Charleston-Area Residential Real Estate Market Continues to Strengthen through September

 

Charleston-Area Residential Real Estate Market Continues to Strengthen through September

Strong sales, consistent price growth and declining inventory strengthen the recovering market

CHARLESTON, SC—(October 10, 2012) According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR) 876 homes sold in September, surpassing last September’s mark by more than 100 sales. Pricing in the Charleston area has made positive gains throughout the year, with September’s closings resulting in a median sale price of $190,000.

The year-to-date and inventory figures show the Charleston market’s continued progression back to a healthy, balanced and sustainable market. Year-to-date, MLS data shows a 10.5% increase in sales and a 5.6% increase in median price for the region. In 2012, 7,879 homes have sold at a median price of $190,000. At this point last year, 7,125 homes had sold at a median price of $179,850.

While it is common for inventory to decline heading into the fall and winter months, it is significant that tri-county inventory has dropped below the 6,000 benchmark, with 5,878 homes listed as actively for sale with the Charleston Trident Multiple Listing Service (MLS). MLS data shows 6.7 months of residential inventory—most experts consider 5-6 months a mark of a healthy and balanced market.

“The available inventory is pushing our market not only towards balance, but slowly back towards the seller’s favor. We’ve been squarely in ‘buyer’s market’ territory for several years now. The market has made its corrections and we’re well-positioned for sustainable positive progress going forward,” said Herb Koger, 2012 President of the Charleston Trident Association of REALTORS®.

Average days on market has declined significantly as well, with all three counties reporting 100 days or less to sale, and Charleston County averaging a speedy 87 days in September. The faster pace of buying activity is being encouraged by a significant number of investor buyers in the Charleston market, who deal largely in cash, negating the wait time for lender approval.

August AdjustmentPreliminary data reported for August 2012 indicated 1,014 homes sold at a median price of $198,757. Adjusted numbers now show 1,025 sales at a median price of $199,900.

Berkeley County

Preliminary data shows 197 homes sold at a median price of $175,000 in Berkeley County in September; with an average of 92 days on market. Year-to-date, sales volume has increased about 1% and prices have grown by 6% compared to last year, with 1,689 sales in the county at a median price of $164,300.

Charleston County

Preliminary data shows 502 residential transactions in Charleston County in September, at a median price of $216,768. Days on market dropped to a year-low of 87 days. Year-to-date, sales have increased 17% and pricing has made a healthy 2% gain over 2011 data. Thus far in 2012, 4,494 homes have sold at a median price of $225,000 in Charleston County.

Dorchester County

Preliminary data shows that 153 homes sold at a median price of $175,000 in September in Dorchester County, in an average of 100 days on market. Year-to-date, sales volume has grown by 3% and prices have increased by nearly 4%, county-wide, compared to last year. In 2012, 1,428 homes have sold at a median price of $167,222.

 

With approximately 3,400 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 Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com.

Charleston-area Home Sales Continue to Rise

Charleston-area Home Sales Continue to Rise

Monthly Closings Pass 1,000 for the Third Time this Year

CHARLESTON, SC— According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR) 1,014 homes sold at a median price of $198,757. This is the third time that closings have passed the 1k benchmark in 2012 and the first time sales volume has consistently shown this level of strength since 2007. Last year, sales peaked in August, with 904 homes sold at a median price of $185,000.

“The August sales figures are ongoing evidence of consistency and stability in our market. Charleston is such a desirable area, smart buyers recognize the long-term value of investing in the Charleston market” said 2012 CTAR President Herb Koger.

Inventory continues to trend towards a more balanced market, dropping to its lowest point this year, with 6,185 homes listed as actively for sale with the Charleston Trident Multiple Listing Service (MLS). Days on market remained below 100 for the second month in a row, at an average of 93 days. Stronger demand on the buying side of the market, an increase in cash-based transactions and the simplification of the distressed property transaction process are likely reasons for the decline.

Year-to-date figures continue to hold steady, with sales volume a strong 10% higher than it was a year ago, and the region’s median price gaining ground during the busy summer months to show a 6.5% uptick in pricing as compared to this point last year. 6,978 homes have sold at a median price of $190,555 thus far in 2012. At this time last year, 6,351 homes had sold at a median price of $178,844.

“As we heard from NAR’s Chief Economist Dr. Yun last month at the market update, our local market is being re-established on a firm foundation of sustainable sales and price growth—Charleston is outperforming many markets across the country, in terms of a consistent recovery” Koger said. “The pent-up demand caused by the trend of college students and young professionals returning to live at home rather than establishing their own residences should also provide an eager pool of buyers heading into the future” he added.

July AdjustmentPreliminary data reported for July 2012 indicated 972 homes sold at a median price of $205,000. Adjusted numbers now show 984 sales at a median price of $204,797.

Berkeley County

240 homes sold in Berkeley County last month at a median price of $173,945. Last August, 226 homes sold at a median price of $158,950. Again, the area bordered by Jedburg Road/Highway 17-A and College Park was the most active, with 57 sales at a median price of $154,000.

Charleston County

570 homes sold in Charleston County in August, at a median price of $234,950. Last August, 483 homes sold at a median price of $219,000. Mount Pleasant (the county’s largest geographic area) saw an increase in closings, with 200 homes sold at a median price of $299,625. West Ashley (outside of I-526) ranked the second most active area with 79 sales at a median price of $184,700.

Dorchester County

In August, 175 homes sold at a median price of $164,000. Last August the same number of homes sold, at a median price of $165,000—showing marked consistency in both sales and pricing this year in Dorchester County. Summerville/Ridgeville showed the most activity—75 homes sold at a median price of $182,850.

With 3,400 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 Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com.

DECEMBER RESIDENTIAL REAL ESTATE FIGURES CLOSE OUT A STRONG 2011

DECEMBER RESIDENTIAL REAL ESTATE FIGURES CLOSE OUT A STRONG 2011

Year to date numbers show sales growth, relative stability in median price

CHARLESTON, SC—(January 10, 2012) Posting the strongest December sales figures since 2006, the Charleston-area residential real estate market closes out a year of steady sales growth and celebrates the arrival of several positive indicators.
According to preliminary figures released by the Charleston Trident Association of REALTORS® (CTAR), 785 homes sold at a median price of $186,050 in December. This represents an increase of more than 100 sales and median price growth of just over 2% when compared to last December.

However, the best news lies in the year-to-date figures. The Charleston area will close out 2011 with at least a 6% increase in closed sales and a difference of just 3% in median price from 2010. “We anticipated the slight decline in median price, with the amount of distressed inventory in our market” said 2012 CTAR President Herb Koger. “However, seeing sales growth at a sustainable and healthy level—that was not encouraged by tax incentives—clearly demonstrates that there are buyers who understand the value of owning a home in the Charleston area” said Koger.

In 2011, 9,276 homes sold in the Charleston area, at a median price of $181,573. In 2010, 8,767 homes sold at a median price of $186,423.

“When we look at the positive indicators that developed throughout the year—growth in sales, relative stability in median price and a declining inventory—we see an extended period of positive movement and growth in our market, which leads me to believe we’ll see another year of slow, but healthy progression in 2012” said Koger. “While we’re on the right track, we may continue see some price softening as we keep working through our distressed inventory” he added.

Inventory continues to decline, with 6,904 homes listed as actively for sale in the MLS.

A final year in review report will be available next week on the Association’s website and Facebook page.

November Adjustment
Preliminary numbers reported for November 2011 indicated 648 homes sold at a median price of $191,500. Adjusted numbers now show 663 sales at an increased median price of $195,000.

BERKELEY COUNTY

With 194 sales at a median price of $169,702 in December, the residential real estate market in Berkeley County added to its impressive year-to-date totals.

2,219 homes sold in the County at a median price of $162,450 during the year—a 5% increase in sales and slight 2% decline in median price compared to 2010’s 2,112 sales at a median price of $165,457.In 2011, the most active area of the county was bordered by Jedburg Road-Highway 17A and College Park, with 523 sales at a median price of $156,290. The most affordable area of the county is Cross/St. Stephens/Bonneau, where 71 annual sales resulted in a median price of $69,000. The most expensive area continues to be Daniel Island, where 250 homes sold at a median price of $407,500.

CHARLESTON COUNTY
December figures completed a year of healthy sales growth and the ongoing correction of prices with 429 sales at a median price of $222,500.

Increasing affordability in Charleston County led to a market-leading 9% growth in sales during the year. 4,961 homes sold at a median price of $220,000 in 2011, as compared to 4,566 sales at a median price of $233,750 in 2010.

As the largest geographic area in the county, Mount Pleasant saw the largest number of closings in 2011, with 1,457 homes sold at a median price of $311,173. West Ashley (outside I-526 to Rantowles) was next, with 688 sales at a median price of $179,532. Sullivan’s Island is home to the most expensive property in the County, with 37 sales resulting in a median price of $1,335,000. The most affordable area of the County is North Charleston (inside I-526) where 199 homes sold at a median price of $57,000.

DORCHESTER COUNTY
128 homes sold at a median price of $151,750 in December, closing out a year of stability in Dorchester County.

Year-to-date figures show a less than 1% variance in sales and median price. In 2011, 1,778 homes sold at a median price of $160,000. In 2010, 1,794 homes sold at a median price of $159,125.

The Summerville/Ridgeville area was the most active, as well as the most expensive area of the County in 2011, as 820 sales resulted in a median price of $168,395. St. George/Harleyville was the most affordable region—46 sales at a median price of $84,200.

Charleston Real Estate Market Shows Strength and Stability in 2011

Charleston Real Estate Market Shows Strength and Stability in 2011Sales Volume Up, Stability in Median Price, Inventory moves to new 5-year Low

CHARLESTON, SC—(December 12, 2011) According to preliminary figures released by The Charleston Trident Association of REALTORS® (CTAR) 648 homes sold at a median price of $191,500 in November, while inventory declined again to reach a new low of 7,258 homes listed as actively for sale. Last November, 588 homes sold at a median price of $189,700 as inventory stood nearly 20% higher than the current level. “The continued decline of inventory is an important factor in maintaining the stability and health of our local market, as we anticipate the addition of bank-owned inventory in the early stages of 2012” said Rob Woodul, 2011 President of CTAR.

Compared to last November, sales volume is up by 10% and the median home price is a slight 1% higher.

“2011 has been a pivotal year for the Charleston real estate market. Without the support of a tax credit or other incentives, our market had to stand on its own and it did so considerably well. We’ve had 11 months of relatively stable activity and are beginning to close the gap on prices—which will likely be affected by additional foreclosed inventory next year. However, continued job growth and economic development in our region should help soften the potential negative effects of that bank-owned inventory” said Woodul. “This year, local REALTORS® have helped nearly 8,500 individuals or families make an investment in the Charleston area. Whether the market is up or down, helping people and families find a place to call home only adds to our region’s stability and strengthens our sense of community” said Woodul.

Year-to-date, 8,453 homes have sold at a median price of $180,796, which indicates nearly 5% sales growth and a 3% decline in prices compared to this point in 2010, when just over 8,000 homes had sold at a median price of $187,00.

October Adjustment

Preliminary numbers reported for October 2011 indicated 670 homes sold at a median price of $190,000. Adjusted numbers now show 677 sales at the same median price.

BERKELEY COUNTY
168 homes sold at a median price of $175,312 in Berkeley County in November—a considerable improvement from last November, when 138 sales resulted in a median price of $169,187.

The most active area of the county was Goose Creek/Monck’s Corner from Highway 52 to the Cooper River, where 45 homes changed hands at a median price of $164,590. The most expensive homes in the County can be found on Daniel Island, where the median home price last month was $387,000. The most affordable homes in Berkeley County are in the area of St. Stephen/Bonneau, where the median home price was $57,900.

CHARLESTON COUNTY
335 homes sold at a median price of $225,848 in November in Charleston County; compared to 318 sales at a median price of $236,175 last November.

Outside of the county’s largest geographic area of Mount Pleasant, where 94 homes sold at a median price of $318,125, the most active area of the county was again, in West Ashley (outside I-526) where 51 homes sold at a significantly increased median price of $198,250. The most expensive homes in the County sold in the resort community of Wild Dunes, where 9 sales resulted in a median price of $827,900. The most affordable homes sold in North Charleston (inside I-526) where 16 homes changed hands at a median price of $55,000.

DORCHESTER COUNTY

125 homes sold at a median price of $176,000 during November in Dorchester County, which shows a healthy increase in sales volume and notable increase in price, compared to last November’s 112 sales at a median price of $152,136. The most active area was Summerville/Ridgeville, where 68 homes sold at a median price of $186,400; also making it the most expensive area in November. The most affordable homes sold in the St. George/Harleyville area, where 4 homes sold at a median price of $112,500.

Residential Real Estate Sales Volume Down; Median Price Increases 6%

Charleston Trident Association of REALTORS® Local Market Update - June 2011According to preliminary figures released today by the Charleston Trident Association of REALTORS® (CTAR), 902 homes sold at a median price of $195,955 in June—the highest recorded sales volume and peak for pricing so far this year. Last June, as the homebuyer tax credit drew to a close, more than 1,000 homes changed hands at a median price of $185,612. This June’s sales volume is 12% lower, while median price increased 6%.

Both sales and prices made significant month-over-month gains. Sales volume is up 12% and median price increased 9% from May.

The jump in median price is likely attributable to increased activity among repeat or move-up buyers. “It is challenging to draw meaningful comparisons between these drastically different markets, however, the majority of activity last year was first-time buyers” said Rob Woodul, 2011 CTAR President. “Repeat, move-up and second home buyers generally purchase in a higher price range, which could explain the increase in median price” he said.

The exclusive resort—and largely second-home—community of Wild Dunes showed significant year over year increases, as sales volume more than doubled and June’s median price shot into the $800,000 range.
“We continue to see healthy levels of buyer interest and showings, which are important indicators of where our market could be headed, but we still have a significant amount of distressed inventory. In the next few months, prices will likely settle back into the $170-180,000 range, which is a more typical price range for this year” said Woodul.

There were 8,795 homes listed as actively for sale with the Charleston Trident Multiple Listing Service as of June 30, 2011.

Charleston Area Real Estate Market Makes Month Over

CHARLESTON AREA REAL ESTATE MARKET MAKES MONTH-OVER-MONTH IMPROVEMENTS

Year-over-year data continues to show the difference of a non-incentivized market

CHARLESTON, SC—(June 10, 2011) According to preliminary data released by the Charleston Trident Association of REALTORS® (CTAR) 804 homes sold at a median price of $179,945 in May, which reflects 8% less buying activity and a 4% reduction in median price when compared to May 2010, when 878 homes sold at a median price of $186,497, as buyers were responding to the appeal of the homebuyer tax credit.

Sales volume grew by 4% and median price increased by 3% from April to May.

"We anticipate declines in year-over-year sales volume through the third quarter of this year. The data we’re analyzing thus far in 2011 reflects activity in a non-incentivized market, so it’s difficult to draw meaningful comparisons over last year’s figures” said 2011 CTAR President Rob Woodul.

The tax credit required a ratified contract to be in place by April 30, with an initial closing deadline of June 30. Legislation enacted in July 2010 extended the deadline to September 30.

“Most of the transactions encouraged by the appeal of the tax credit closed in May, June and July of last year—we saw huge gains in sales volume during those months” said Woodul. “It’s unlikely that we’ll reach those levels this year and we won’t really be able to determine how well our market is adjusting until later this year” he added.

There were 8,895 homes listed as actively for sale with the Charleston Trident Multiple Listing Service as of May 31, 2011.

April Adjustment
Preliminary numbers reported for April 2011 indicated 776 homes sold at a median price of $175,000. Adjusted numbers now show 801 sales at a median price of $177,000.

BERKELEY COUNTY
192 homes sold at a median price of $147,815 in May. This data reflects a decrease in both sales and prices when compared to May 2010’s 202 sales at a median price of $165,517.

The area with the highest sales volume is bordered by Goose Creek-Monck’s Corner and Highway 52, where 42 homes changed hands. Daniel Island logged the County’s highest median sale price at $310,000, while the County’s most affordable area is Cross and Bonneau, where the median price was recorded at $55,000.

CHARLESTON COUNTY
421 homes sold at a median price of $226,000 in Charleston County in May. This reflects a decrease in sales and stability in pricing when compared to May 2010’s 475 sales at a median price of $228,000.

The most active area of Charleston County was Mount Pleasant, where 118 homes sold. The highest median price of $1,335,000 was on Sullivan’s Island while the most affordable area of the County is again in North Charleston (inside of I-526).

DORCHESTER COUNTY
165 homes sold at a median price of $164,900 in Dorchester County. This reflects stability in both sales and prices when compared to May 2010’s 170 sales at a median price of $165,000.

The highest sales volume in occurred in the Summerville/Ridgeville area of Dorchester County, where 21 homes changed hands. The area of North Charleston bordered by Summerville and Ladson recorded the County’s highest median price at $171,257. The most affordable area of Dorchester County in May was Saint George and Harleyville, with a median price of $58,000.

With approximately 3,500 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 Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com.

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.

Sales Remain Stable, Foreclosur​es Continue to Impact Prices

RESIDENTIAL REAL ESTATE SALES STABLE, FORECLOSURES CONTINUE TO IMPACT PRICES

CHARLESTON, SC—(March 10, 2011) According to preliminary data released by the Charleston Trident Association of REALTORS® (CTAR) 557 homes sold at a median price of $163,500 in February. Preliminary figures for February 2010 showed 509 homes sold at a median price of $179,900—revised data for February 2010 reflects 561 sales at a median price of $180,000.

The most active price range in February was $160,000-$179,999. Last February, the most active range was $200,000-249,999, when many homeowners were taking advantage of move-up opportunities provided by the homebuyer tax credit.

"As we forecasted, prices have softened in the early months of this year as a result of the foreclosure inventory. Over the next 12 months or so, we’ll continue to work our way through this inventory and see prices begin to move forward" said 2011 CTAR President Rob Woodul.

According to figures released by RealtyTrac, more than 250,000 properties received at least one foreclosure-related notice in February, down 14% from January and down 27% from the same month last year. While the number of homes across the country receiving a foreclosure-related notice has fallen to a 36-month low, it’s likely an artificial dip as many lenders have significantly slowed their foreclosure processes due to increased scrutiny over how lenders are handling the repossessions.

RealtyTrac data currently shows an estimated 23,406 foreclosed homes in South Carolina and an average sale price of $111,503 for foreclosed homes statewide.

Woodul cites job growth and overall economic stability as the necessary catalysts for people to jump back into the real estate market. "It's not a question of demand for housing; it's a question of confidence and capability. As they should, people need to feel secure in their job and financial situation before making what will likely be the largest purchase of their lives" said Woodul.

Nationally, unemployment has declined to a nearly 2-year low of 8.9% but South Carolina's jobless rate still remains ahead of that curve, at 10.5%. The Charleston region saw a considerable improvement in its jobless rate, falling to 8.4 % from 9%.
"We will not see a true recovery of the housing market until we have steady and solid job growth" said Woodul.

There were 8,470 homes listed as actively for sale with the Charleston Trident Multiple Listing Service as of February 28, 2011.

BERKELEY COUNTY
Preliminary figures show that 141 homes sold in Berkeley County at a median price of $137,000 in February.

Click here for a full report on Berkeley County.

CHARLESTON COUNTY
Preliminary figures show that 277 properties changed hands in Charleston County in February, at a median price of $195,900.

Click here for a full report on Charleston County.

DORCHESTER COUNTY
Preliminary figures show that 122 homes sold at a median price of $145,000 in Dorchester County in February.

Click here for a full report on Dorchester County.

With approximately 3,500 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 Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com.

RESIDENTIAL REAL ESTATES SALES VOLUME INCREASES, MEDIAN PRICE DECLINES IN JANUARY

CHARLESTON, SC—(February 10, 2011) According to preliminary data released by the Charleston Trident Association of REALTORS® 484 homes sold at a median price of $174,495 in January. Revised data for January 2010 shows that 450 homes sold at a median price of $193,000.

Homes are selling an average of 11 days faster than they were a year ago, with average days on market settling at 117 for January 2011.

“We anticipated the decline in prices and expect to see prices trend downward somewhat in the first part of this year—our foreclosure-heavy inventory isn’t going to support upward movement of prices, but it is encouraging to see another uptick in sales volume” said 2011 CTAR President Rob Woodul.

There were 8,428 homes listed as actively for sale with the Charleston Trident Multiple Listing Service as of January 31, 2011.

BERKELEY COUNTY
Preliminary figures show that 104 homes sold in Berkeley County at a median price of $151,775 in January.

89 Single-Family Detached homes sold at a median price of $160,000, while 14 Townhomes/Condos sold at a median price of $90,505.

The most active part of Berkeley County was the area bordered by Jedburg Road/Highway 17A/College Park.

Click here for a full report on Berkeley County.

CHARLESTON COUNTY
Preliminary figures show that 278 properties changed hands in Charleston County in January, at a median price of $219,949.

204 Single-Family Detached homes sold at a median price of $259,750 and 74 Townhomes/Condos changed hands at a median price of $135,000.

The area north of the Isle of Palms connector in Mount Pleasant had the most activity in the County, closely followed by the area of West Ashley outside I-526 and Mount Pleasant south of the Isle of Palms connector.

Click here for a full report on Charleston County.

DORCHESTER COUNTY
Preliminary figures show that 87 homes sold at a median price of $137,500 in Dorchester County in January.

76 Single-Family Detached homes sold at a median price of $144,000, while 11 Townhouses/Condos sold at a median price of $104,335.

The Summerville/Ridgeville area of Dorchester County was the most active in January.

Click here for a full report on Dorchester County.

With 3,000 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 Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com.

Lowcountry Residential Real Estate Market Shows Growth in 2010

Lowcountry Residential Real Estate Market Shows Growth in 2010

CHARLESTON, SC (January 19, 2011)—In the first half of 2010, the homebuyer tax credit was touted as life support for the national real estate market. Despite predictions for a post-tax credit fallout, the Charleston market maintained its footing and the region posted year-over-year increases with sales volume increasing 5% and prices up 3%.

2010 | 8,735 transactions at a median price of $187,500; 112 average days on market
2009 | 8,328 transactions at a median price of $181,505; 114 average days on market

“Charleston-area market indicators were largely positive over the last 12 months. We anticipate continued growth in sales volume, but expect foreclosures to have an effect on prices in the coming year” said 2011 CTAR President Rob Woodul. Nationally, experts are calling for potential price declines through the second quarter of 2011, following a report from RealtyTrac stating that lenders seized more than 1 million homes in 2010 and that an estimated 5 million homeowners are at least 60 days behind on their mortgage payments, but not yet in foreclosure.

“Some of those homeowners will utilize foreclosure prevention resources, or negotiate modified loans with their lenders. Locally, we can’t predict exactly how or where foreclosures will make their impact on our market, but we do know that there are an excess of lender-held properties that will add to our inventory in the coming year” said Woodul.

Inventory is slightly lower than it was a year ago, with 8,224 homes listed for sale in the Charleston Trident Multiple Listing Service (MLS) as of December 31, 2010.

Charleston County
Charleston County had a 13% increase in sales and 4% increase in median price. 4,568 properties changed hands at a median price of $235,450. In 2009, 4,039 homes sold at a median price of $226,305.

Folly Beach led the county, closing 105 sales in 2010—almost doubling from 54 sales in 2009. The jump in sales came with a 13% decline in prices, as increased affordability allowed more buyers to capitalize on deals on the island. The area of downtown Charleston above the crosstown and James Island both made gains in the last 12 months. Sales in upper downtown increased 52% with 132 sales at a median price of $221,125—4% growth for the year. 504 sales closed on James Island at a median price of $220,000—14% more sales and a 7% increase in median price.

Berkeley County
Berkeley County sales were up almost 6%, while median price made a steady 2% gain. 2,104 homes sold at a median price of $165,945 in 2010. In 2009, 1,992 homes sold at a median price of 163,000.

Daniel Island showed major improvement year-over-year, as 210 sales closed at a median price of $477,500; a 52% increase in sales volume and 17% increase in price. Rural areas of the county also showed improvement, as sales in Jedburg increased 11.5% over 2009 and prices increased by about 6%. 404 homes sold at a median price of $155,000 in 2010.

Dorchester County
Dorchester County struggled with 11% fewer sales but stability in price, fluctuating just 1%--1,767 homes changed hands at a median price of $159,500, as compared to 1,976 sales at a median price of $161,230 in 2009.

The area of Summerville bordered by North Charleston and Ladson showed a 20% drop in sales volume, with 627 closed sales as median prices settled at $156,000—a 6% decline from 2009. In the area of Summerville closer to Ridgeville, 796 homes sold at a median price of $167,863, which translates to 4% more sales than last year and no change in median price.

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.

RESIDENTIAL REAL ESTATE SALES VOLUME DECREASES, MEDIAN PRICE REMAINS STABLE IN NOVEMBER

RESIDENTIAL REAL ESTATE SALES VOLUME DECREASES, MEDIAN PRICE REMAINS STABLE IN NOVEMBER

CHARLESTON, SC—(December 10, 2010) According to preliminary data from the Charleston Trident Association of REALTORS® (CTAR) 588 homes sold at a median price of $189,700 during the month of November.

Sales volume is 25% lower than in November 2009, when the original tax credit deadline of November 30 spurred an unprecedented number of sales (783).

Median price remained stable at $189,700—a slight variation (3%) from October’s median price of $194,785 and a healthy 10% higher than November 2009’s median price of $173,000, when buyer activity was heavily concentrated in the typically lower first-time buyer price range.

“We expected to see sales volume down in this quarter compared to last year. Sales are no longer being supported by the appeal of the tax credit, so it’s not surprising that sales decreased. Looking at the big picture, year-to-date sales are higher this year than last, and prices have shown stability over the last several months, which is encouraging for the market’s continued recovery,” said Rob Woodul, 2011 President of the Charleston Trident Association of REALTORS®.

Year-to-date, sales are 6% ahead of this point last year and median prices have fluctuated very little over the last 11 months—from a peak of $199,055 in August to a low of $179,900 in February. The year-to-date median price is 4% higher than it was at the end of November 2009.

At the end of November, the number of homes listed as actively for sale with the Charleston Trident Multiple Listing Service (MLS) was 8,802.

BERKELEY COUNTY
138 homes sold at a median price of $169,187 in November in Berkeley County. The median home price for 196 sales in November 2009 was $154,700.

CHARLESTON COUNTY
In Charleston County, median price jumped to $236,175 for the 318 homes that sold in November. Last year, 361 homes changed hands at a median price of $225,000 in November.

DORCHESTER COUNTY
Dorchester County data showed a median price of $152,136 from 112 sales. Last November, 199 properties sold at a median price of $150,000.

OCTOBER 2010 ADJUSTMENT
Preliminary numbers reported for October 2010 indicated 630 homes sold at a median price of $194,887. Adjusted numbers now show 657 sales at a median price of $194,785.

With nearly 4,000 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 Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com. ###

HOME SALES AND PRICES SURVIVE TAX CREDIT FALLOUT, INVENTORY DROPS NEAR ANNUAL LOW

HOME SALES AND PRICES SURVIVE TAX CREDIT FALLOUT, INVENTORY DROPS NEAR ANNUAL LOW

Sales Outpace 2009 Levels and Prices Continue Steady Growth

CHARLESTON, SC—(October 11, 2010) According to preliminary data released by the Charleston Trident Association of REALTORS®, 659 homes sold at a median price of $188,840 in September. This reflects a 5% decline in sales but a 9% increase in median prices when compared to preliminary figures from September 2009.

Year-to-date figures show sales 15% ahead of this point last year, with the median price increasing a slight 2%, holding ground in the high $180’s. Thus far in 2010, 6,698 homes have sold at a median price of $188,000. Compared to the same period last year, 5,829 homes sold at a median price of $185,000.

“At this time last year, the tax credit was in full swing, so it’s encouraging to see steady improvement in our sales and prices compared against last year’s numbers” said 2010 CTAR President, Jeremy Willits.

“Despite the fact that some regions across the country are still experiencing significant declines in buyer activity, that is simply not the case for Charleston. We experienced a month of slow sales following the expiration of the tax credit, but heading toward the close of this year, we’ve established stability—sales have kept pace, median prices continue to rise and inventory is declining” said Willits.

The number of homes listed as actively for sale with the Charleston Trident Multiple Listing Service (MLS) was 9,312 at the end of September, down 4% from September 2009 and the lowest level of inventory seen since the beginning of this year. Inventory has remained close to the 10,000 mark for much of the year, so declining inventory could signal more balanced supply and demand.

BERKELEY COUNTY

Sales in Berkeley County hit a three-month high, with 172 sales at a median price of $168,948—a marked improvement from last September’s 135 sales at a median price of $150,000. September’s figures reflect a 27% increase in sales volume and a 13% increase in prices.

These increases are supported by significant levels of activity on Daniel Island—where sales are consistently doubling from 2009 levels. Sales of single family homes on the island have increased 109% year-to-date, without sacrificing prices—which remain steady in the $500,000 range.

CHARLESTON COUNTY

Sales in Charleston County were comparable with 2009 levels, while prices inched up another 5%. 351 homes changed hands at a median price of $224,500. In September 2009, 359 homes sold at a median price of $214,000.

Continued activity in the island markets support the steadying market—both Folly Beach and Isle of Palms, which was recently included on the Forbes List of America’s Most Expensive Zip Codes, doubled their sales over September 2009.

DORCHESTER COUNTY

Dorchester County showed improvement in median sale price last month—recording a 14% increase as prices climbed to$176,000. Last September, the median sale price was $154,000. Sales are still sluggish in the foreclosure-plagued county, with 120 sales in September 2010, down 27% when compared to September 2009’s 164 closings.

Most of the County’s activity is taking place in the Summerville/Ridgeville area, where 49 of the area’s 120 sales closed and prices increased 9% compared to last September. Notably, the North Charleston/Summerville/Ladson area recorded a 32% increase in median price during the month, jumping from last year’s $162,750 to $214,900.

AUGUST 2010 ADJUSTMENT

Preliminary numbers reported for August 2010 indicated 681 homes sold at a median price of $199,055. Adjusted numbers now show 697 sales at the same median price.

With approximately 3,700 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 Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®.

RESIDENTIAL REAL ESTATE MARKET BEGINS TO SHOW SIGNS OF NORMAL ACTIVITY

RESIDENTIAL REAL ESTATE MARKET BEGINS TO SHOW SIGNS OF NORMAL ACTIVITY

CHARLESTON, SC—(September 10, 2010) According to preliminary data released by the Charleston Trident Association of REALTORS® (CTAR), 681 homes sold in the region at a median price of $199,055 in August. This reflects a 3% increase in sales and a 6% jump in prices when compared to August 2009, when 658 homes sold at a median price of $187,840.

Year to date, 5,624 homes have sold, compared to the 4,685 that were reported at this point in 2009. The year-to-date median sale price is a healthy 2% ahead of this point last year—$183,982 as of August 2009, and $188,207 thus far in 2010.

“Sales volume is up 20% year-to-date. While the gain is no doubt due in part to the recently expired Home Buyer Tax Credit, the August figures suggest that stability is returning to the market after the post Tax Credit drop-off. We’re slowly moving back toward more normalized market conditions, as consumer confidence is being restored” said Jeremy Willits, 2010 CTAR President.

As of August 31, 2010 there were 9,552 properties listed as actively for sale in the Charleston Trident Multiple Listing Service (MLS). At the end of last August, inventory was comparable, with 9,806 properties actively for sale.

BERKELEY COUNTY
149 sales in Berkeley County at a median price of $177,990 reflect a 19% increase in sales and a reasonable 3% increase in prices compared to August 2009.

CHARLESTON COUNTY
Sales in Charleston County increased 15% compared to the same month last year and prices increased 5%. There were 370 sales at a median price of $253,145.

DORCHESTER COUNTY
In August, 133 residential properties changed hands at a median price of $165,000—a 20% decrease in sales and a 3% decrease in price from August 2009.

JULY 2010 ADJUSTMENT
Preliminary numbers reported for July 2010 indicated 643 homes sold at a median price of $196,573. Adjusted numbers now show 671 sales at $196,540.

With nearly 4,000 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 Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com.

‘BORROWED’ CLOSINGS LEAD TO FEWER SALES IN JULY

CHARLESTON, SC—(August 10, 2010) Preliminary figures released by the Charleston Trident Association of REALTORS® (CTAR) show that 643 sales closed in July at a median price of $196,573. Comparatively, July 2009 saw 796 closings with a median price of $181,889. This July’s figures represent a year-over-year difference of 19% fewer sales and an 8% increase in prices.

As of July 30, 2010, there were 9,737 homes listed as actively for sale with the Charleston Trident Multiple Listing Service.

BORROWED CLOSINGS
“July’s closings were down more than usual, but that’s likely because the tax credit deadline was June 30, and the extension to close wasn’t granted until the final days of June. Buyers who would have likely closed in July rushed to close in June in order to take advantage of the tax credit” said Jeremy Willits, 2010 President of CTAR.

“The tax credit allowed us to borrow closings from future months,” said Willits. “We normally see the market slow down around August or September, but this year, it happened a little earlier than usual.” The homebuyer tax credit encouraged buyers who may have waited until the typical buying season of June, July and August to place contracts by the April 30 tax credit deadline, resulting in those closings and the arrival of the busy season coming several months early.

WHAT’S MOVING
The jump in median price could be attributed to increased movement in the $300-399,000 price range, which was unusually active during July. In previous months, most sales activity has been concentrated in the $140,000 and $200,000 ranges.

“The increase in activity within the $300,000 and above range explains the sharp jump in prices. Unless the activity in this range keeps up, I would expect that we’ll see prices return to the mid-$180 range that’s been typical for 2010.” said Willits.

Another factor driving the price increase could be increased activity in Charleston’s resort communities. Kiawah and Seabrook Islands have seen increases in both sales volume and prices, while median prices in Wild Dunes tracked close to $1 million in July, when they’ve been closer to the $600,000 range for most of 2010.

BERKELEY COUNTY
Berkeley County saw 147 homes sell at a median price of $165,000 in July. This represents a 23% decline in sales and a 12% increase in prices, when compared to July 2009. Most of the County’s activity was in the Goose Creek/Moncks Corner area, as well as the area between Jedburg Road and Highway 17-A.

CHARLESTON COUNTY
Sales in Charleston County fared better than either of the other counties, with 341 sales at a median price of $250,000. Compared to July 2009, the County saw a 16% decrease in sales volume but a 9% increase in median price. The most active areas of Charleston County were Mount Pleasant South of Highway 41 and James Island.

DORCHESTER COUNTY
131 sales in Dorchester County show a 23% decline from July 2009, when 170 homes changed hands. Prices remained stable, but reflected the smallest increase among the three counties, which could be attributed to the high number of foreclosures in the County. The median price for homes sold in July was $169,829, up 2% from July 2009’s $166,837.
The most active area of the county was in the Summerville/Ridgeville area.

JUNE 2010 ADJUSTMENT
Preliminary numbers reported in June 2010 indicated 1,022 homes sold at a median price of $185,612. Adjusted numbers now show 1,072 sales at the same median price.

With nearly 4,000 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 Lowcountry. Only those who are members of the Association of REALTORS® and its parent organizations are called REALTORS®. To learn more, visit www.CharlestonRealtors.com.

21 Things You Should Never Buy New

I saw this post this morning and found #13 very interesting. The writer says to NEVER buy a new home for some very weak reasons. In reality a new home today can offer significant cost savings in the long run over older homes. But good deals are to be had regardless of whether the home is old or new. And lets face it housing doen't really fit in this list.

And well I thought the rest of the list was kinda funny as well ...

21 Things You Should Never Buy New

If you're looking to get the most value for your dollar, it would do your wallet good to check out secondhand options. Many used goods still have plenty of life left in them even years after the original purchase, and they're usually resold at a fraction of the retail price, to boot. Here's a list of 21 things that make for a better deal when you buy them used.

1. DVDs and CDs: Used DVDs and CDs will play like new if they were well taken care of. Even if you wind up with a scratched disc and you don't want to bother with a return, there are ways to remove the scratches and make the DVD or CD playable again.

2. Books: You can buy used books at significant discounts from online sellers and brick-and-mortar used book stores. The condition of the books may vary, but they usually range from good to like-new. And of course, check out your local library for free reading material.

3. Video Games: Kids get tired of video games rather quickly. You can easily find used video games from online sellers at sites like Amazon and eBay a few months after the release date. Most video game store outlets will feature a used game shelf, as well. And if you're not the patient type, you can rent or borrow from a friend first to see if it's worth the purchase.

4. Special Occasion and Holiday Clothing: Sometimes you'll need to buy formal clothing for special occasions, such as weddings or prom. Most people will take good care of formal clothing but will only wear it once or twice. Their closet castouts are your savings: Thrift stores, yard sales, online sellers and even some dress shops offer fantastic buys on used formalwear.

5. Jewelry: Depreciation hits hard when you try to sell used jewelry, but as a buyer you can take advantage of the markdown to save a bundle. This is especially true for diamonds, which has ridiculously low resale value. Check out estate sales and reputable pawn shops to find great deals on unique pieces. Even if you decide to resell the jewelry later, the depreciation won't hurt as much.

6. Ikea Furniture: Why bother assembling your own when you can pick it up for free (or nearly free) on Craigslist and Freecycle? Summer is the best time to hunt for Ikea furniture--that's when college students are changing apartments and tossing out their goodies.

7. Games and Toys: How long do games and toys remain your child's favorite before they're left forgotten under the bed or in the closet? You can find used children's toys in great condition at moving sales or on Craigslist, or you can ask your neighbors, friends, and family to trade used toys. Just make sure to give them a good wash before letting junior play.

8. Maternity and Baby Clothes: Compared to everyday outfits that you can wear any time, maternity clothes don't get much wear outside the few months of pregnancy when they fit. The same goes for baby clothes that are quickly outgrown. You'll save a small fortune by purchasing gently used maternity clothes and baby clothes at yard sales and thrift stores. Like children's games and toys, friends and family may have baby or maternity clothing that they'll be happy to let you take off their hands.

9. Musical Instruments: Purchasing new musical instruments for a beginner musician is rarely a good idea. (Are you ready to pay $60 an hour for piano lessons?) For your little dear who wants to learn to play an instrument, you should see how long his or her interest lasts by acquiring a rented or used instrument to practice with first. Unless you're a professional musician or your junior prodigy is seriously committed to music, a brand new instrument may not be the best investment.

10. Pets: If you buy a puppy (or kitty) from a professional breeder or a pet store outlet, it can set you back anywhere from a few hundred dollars to several thousand dollars. On top of this, you'll need to anticipate additional fees and vet bills, too. Instead, adopt a pre-owned pet from your local animal shelter and get a new family member, fees, and vaccines at a substantially lower cost.

11. Home Accent: Pieces Home decorating pieces and artwork are rarely handled on a day-to-day basis, so they're generally still in good condition even after being resold multiple times. If you like the worn-out look of some decor pieces, you can be sure you didn't pay extra for something that comes naturally with time. And don't forget, for most of us, discovering a true gem at a garage sale is 90% of the fun!

12. Craft Supplies: If you're into crafting, you probably have a variety of different supplies left over from prior projects. If you require some additional supplies for your upcoming project, then you can join a craft swap where you'll find other crafty people to trade supplies with. If you have leftovers, be sure to donate them to your local schools.

13. Houses: You're typically able to get better and more features for your dollar when you purchase an older home rather than building new. Older houses were often constructed on bigger corner lots, and you also get architectural variety in your neighborhood if the houses were built or remodeled in different eras.

14. Office Furniture: Good office furniture is built to withstand heavy use and handling. Really solid pieces will last a lifetime, long after they're resold the first or second time. A great used desk or file cabinet will work as well as (or better than) a new one, but for a fraction of the cost. With the recession shutting down so many businesses, you can easily find lots of great office furniture deals.

15. Cars: You've probably heard this before: Cars depreciate the second you drive them off of the dealership's lot. In buying a used car, you save money on both the initial cost and the insurance. It also helps to know a trusty mechanic who can check it over first. This way, you'll be aware of any potential problems before you make the purchase.

16. Hand Tools: Simple tools with few moving parts, like hammers, hoes and wrenches, will keep for decades so long as they are well-made to begin with and are well-maintained. These are fairly easy to find at neighborhood yard or garage sales. If you don't need to use hand tools very often, an even better deal is to rent a set of tools or borrow them from a friend.

17. Sports Equipment: Most people buy sports equipment planning to use it until it drops, but this rarely happens. So when sports equipment ends up on the resale market, they tend to still be in excellent condition. Look into buying used sporting gear through Craigslist and at yard sales or sports equipment stores.

18. Consumer Electronics: I know most folks like shiny new toys, but refurbished electronic goods are a much sweeter deal. Consumer electronics are returned to the manufacturer for different reasons, but generally, they'll be inspected for damaged parts, fixed, tested, then resold at a lower price. Just make sure you get a good warranty along with your purchase.

19. Gardening Supplies: This is an easy way for you to save money, and all you need to do is be observant. Take a look outdoors and you'll likely find such gardening supplies as mulch, wood, and even stones for free or vastly reduced prices. Used garden equipment and tools are also common goods at yard sales.

20. Timeshares: Buying timeshares isn't for everyone, but if you decide that it suits your lifestyle, purchasing the property as a resale would be a better deal than buying it brand new: on average, you'll save 67 percent on the price for a comparable new timeshare. If you're new to timeshare ownership, give it a test run first by renting short term.

21. Recreational Items: It's fairly easy to find high ticket recreational items like campers, boats, and jet skis being resold. Oftentimes, they're barely used at all. As long as they're in safe, working condition, they'll make for a better value when purchased used than new.

Lynn Truong is the co-founder and Deals Editor of Wise Bread, a blog dedicated to helping readers live large on a small budget. Wise Bread's book, 10,001 Ways to Live Large on a Small Budget, debuted as the #1 Money Management book on Amazon.com.

Residential Real Estate Sales Reach Highest Level Since September 2007

Residential Real Estate Sales Reach Highest Level Since September 2007

Sales Up 29%, Prices Continue Pattern of Consistency

CHARLESTON, SC—(June 10, 2010) Preliminary data released by the Charleston Trident Association of REALTORS® (CTAR) shows 878 closings took place last month. This not only marks a 29% increase from the 678 sales in May 2009 but the highest level of closed sales in this region since September of 2007.

“We are pleased to see such high sales volume, but it’s equally important that home prices are continuing to stabilize. So far this year, price fluctuations have been minimal, which is ideal as we see inventory gradually returning to a healthy level” said Jeremy Willits, President of CTAR.

The median sale price for May 2010 settled at $186,497. In May 2009, preliminary reports showed a median sale price of $187,000. Last month, figures showed this year’s lowest median price of $180,175.

Year-to-date, 3,277 homes have sold in the Charleston region. This represents a 28% increase in sales activity when compared to the same period last year—at this point in May 2009, 2,553 homes had changed hands.

Mortgage rates remain at historically low levels, currently 4.81% for a 30-year fixed loan. “Low rates and an affordable selection of property should continue to support healthy market activity. This month’s sales show high seasonal activity and the lingering effect of the tax credit, which we anticipate will continue into June and possibly July. We’re optimistic that this is setting the stage for a stable market in the fall and later months” said Rob Woodul, President-Elect of CTAR.

There were 9,867 properties listed as actively for sale with the Charleston Trident Multiple Listing Service as of May 31, 2010.

BERKELEY COUNTY
Berkeley County led the way in both sales and price increases in May. Bolstered by a flurry of recent activity on Daniel Island, sales in the county increased 46% and median price increased 10% over 2009 levels. 202 homes sold at a median price of $165,517 last month. In May 2009, 138 homes sold at a median price of $150,964.

The majority of Berkeley County activity occurred in Goose Creek and Moncks Corner from Highway 52 to the Cooper River. Daniel Island had a strong showing this month with 22 homes sold at a median price of $540,450, the strongest month so far this year.

CHARLESTON COUNTY
Charleston County also posted impressive increases in May—475 sales resulted in a 31% increase over May 2009’s 363 sales and prices increased 6% from $215,000 to $228,000.

The majority of activity took place in Mount Pleasant, south of Highway 41. 99 homes sold at a median price of $341,236 in that area. An unprecedented 32 homes sold for a median price of $245,988 on Johns Island—the most sales on the island since March 2007.

DORCHESTER COUNTY
170 homes sold in Dorchester County last month, representing a 10% increase from May 2009, when 155 homes sold at a median price of $168,000. Prices showed a quiet decline of less than 2%, settling at $165,050.

The increase in sales was led by consistently strong activity in the Summerville/Ridgeville area, where 86 homes sold at a median price of $169,272.

APRIL 2010 ADJUSTMENT
Preliminary numbers reported for April 2010 indicated 784 homes had sold at a median price of $180,175. Adjusted numbers now show that 844 homes sold at a median price of $181,000.

MEET THE CANDIDATES

Join us on Thursday, April 29 from 6-9 p.m. at the renovated Founders Hall at Charlestowne Landing for a special evening of networking, music and fun!

This event is now offered at no cost, as a benefit of membership for CTAR members.
Non-member tickets are available for $30.

Come rub elbows with candidates running for office in 2010 and enjoy beer, wine, hors d'ouevres and live music with Calvin Taylor.

There is no cost to attend, but space is limited, so registration is required.
Walk ups will not be admitted and no-shows will be charged the non-member ticket price.

The following candidates have confirmed their attendance:


Governor
Morgan Reeves

Lieutenant Governor Candidates
Ashley Cooper, Ken Ard and Larry Richter
Treasurer
Converse Chellis and Curtis Loftis

Congressional Candidates
Robert Burton, Mark Lutz, Tim Scott, Paul Thurmond, Mac McCullough and Carroll Campbell

State House of Representatives Candidates
Mike Sottile, Anne Peterson Hutto, Jenny Horne, Joe Bustos, Peter McCoy, Leon Stravrinakis and Lee Edwards

Presented By:









NO COST for CTAR Members $30 Non-Members

For Ticket Information please call (843) 760-9400