Park Circle Home Sales Fall Slightly, but Prices Continue to Climb
29 homes sold in the month of April in Park Circle at a median price of $421,500.
Inventory data shows 46.3% fewer homes, with 22 homes listed as “active” for sale in the CHS Regional MLS database at the end of the month for Park Circle —representing just 0.80 of a month’s available inventory.
“It’s important to remember that 2021 was an outlier in terms of sales volume, so it’s not so much that the market is declining, but returning to what was normal. In 2021 there was a lot of pent-up demand from a year of Covid restrictions the previous year. When you look at data from 2018-20, the sales volume is quite comparable to what we’re seeing now—even a little ahead” said 2022 CTAR President Jon Stroud.
“While we have seen the most significant adjustment to interest rates since 2011, along with local affordability challenges creating an even more challenging market for buyers, we continue to have strong buyer interest from outside markets and I don’t anticipate that will decline any time soon,” said Stroud. “Charleston is an incredibly attractive place for young professionals and retirees alike, so our pool of potential homebuyers remains strong,” said Stroud.