Charleston Home Market Update
Still waiting to buy your new home? Don’t wait too long because you might find that today could be the best time to buy. With interest rates still low and prices remaining reasonable now would be a good time to start looking. Why not get a free list of homes in your desired neighborhood today by filling out my free list of homes by email form. Judging from the market details below, it looks like each county is experiencing an increase in median home price, which tells me that inventory is going down and competition for the more desirable homes is up.
Preliminary data shows 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.
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.
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.
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