By Lauren Ratcliffe
Published April 11, 2012
Home sales in the Charleston area were at the highest levels since 2007, according to figures released by the Charleston Trident Association of Realtors.
County-by-county March figures
Berkeley County saw 211 homes sell at a median price of $162,465. Sales figures are up from 187 homes sold last March, but prices are down from $164,910.
Charleston County saw 498 homes sell at a median price of $218,450. Last year, 435 homes sold at a median price of $222,000.
Dorchester County saw 155 homes sell at a median price of $170,000. Last year, 165 homes sold at a median price of $154,500.
CTAR estimates year-to-date sales volume is up 7% over last year and prices are up 4%.
“Sales activity has been consistently increasing at a healthy and sustainable level for over a year now, and this is the busiest March we’ve seen since 2007, which makes for a very encouraging start to the spring buying season,” said Herb Koger, CTAR president. “The warm weather has probably helped get buyers going a little earlier this year, along with the urgency being created by our declining inventory.”
Market activity in March also saw the most expensive transaction ever completed through Charleston’s Multiple Listing Service — the sale of the Medway Plantation in Berkeley County for $11 million.
Charleston County saw marked activity increases in West Ashley (outside of Interstate 526) and the historic areas of downtown, as well as huge spikes in sales on Folly Beach and in Wild Dunes, where month-over-month sales increased 220% and 500%, respectively.
“Whether a client is buying a second home or a property to put on the vacation rental market, they’re closing those deals now so they can have their properties up and running before the summer officially kicks off,” said Dick Casey, broker-in-charge at Wild Dunes Real Estate.