By Lauren Ratcliffe
Published Oct. 11, 2012
September home sales surpassed last year’s figures by more than 100 sales and showed signs of continued recovery in the Charleston area.
The Charleston Trident Association of Realtors reported 876 homes sold in the tri-county region and that pricing also grew to a median price of $190,000 in September.
Fewer than 6,000 homes are actively for sale in the tri-county region, putting inventory levels at 6.7 months. Most experts have considered five to six months of residential inventory to be the healthy range, the report said.
“The available inventory is pushing our market not only towards balance, but slowly back towards the seller’s favor,” said Herb Koger, president of CTAR. “We’ve been squarely in the ‘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.”
Average days on the market also declined to 100 days or less in all three counties.
Berkeley County reported sales of 197 homes at a median price of $175,000 and an average of 92 days on the market.
Charleston County reported 502 home sales at a median price of $216,768. Days on the market dropped to a 2012 low at 87 days.
Dorchester County reported 153 home sales at a median price of $175,000 and an average of 100 days on the market.