A recent analysis of the Charleston real estate market shows while the market is currently in a higher risk status, that does not mean certain segments are not performing well.

Appreciation and inventory of single-family homes in Goose Creek and Mount Pleasant, for example, show very different trends. The Goose Creek market has appreciated 12.3% since last year and has only 2.9 months worth of inventory, while Mount Pleasant has 10 months’ worth of inventory and an appreciation rate of 3% since last year.

Brad Rundbaken, a principal with Advantage Commercial Capital, a boutique financial services firm specializing in real estate and securities, said the tri-county has micro-markets that are both favorable and unfavorable at this time.

“You start looking at North Charleston and Goose Creek and some of other areas, and some places aren’t so bad,” Rundbaken said.

Rundbaken’s most recent Charleston Market Report offers a snapshot of the Charleston real estate market based on Multiple Listing Service data through April.

Rundbaken said the case of high inventory and slow appreciation in Mount Pleasant illustrates market rotation and a change in trend.

The most recent MLS data reveals that tri-county area homes less than $600,000 spent an average of 82 days on the market in April, compared with 53 days on the market in April 2006.

Homes priced greater than $600,000 spent an average of 155 days on the market in April, compared with 113 days on the market April 2006.

Condos and town homes priced less than $600,000 spent an average of 89 days on the market in April compared with 52 days on the market in April 2006.

SUBSCRIBE | REPRINTS | CONTACT US

Phone: 843-849-3100    Fax: 843-849-3122