By Lauren Ratcliffe
Published Feb. 12, 2013
The Charleston Trident Association of Realtors said increased consumer confidence fueled strong sales increases and sustainable price growth for the residential market in January.
For the region, 634 homes sold at a median price of $181,750 — the most homes sold in January since 2008 when 648 homes sold.
While January is typically a slow month for home sales, CTAR’s data showed buyer interest and activity were higher and many real estate agents reported more inquiries from potential buyers.
“As was the case in 2012, we expect our region to see nominal, but sustainable growth in prices this year,” said Owen Tyler, 2013 CTAR president. “2012 closed with a 4.4% increase in median price, which is an excellent rate of growth in a recovering market. It’s all about sustainability.”
Year-over-year sales volume increased 16% and median prices grew 3% over January 2012.
In Berkeley County, 125 homes sold at a median price of $157,000.
In Charleston County, 363 homes sold at a median price of $228,726. More than 100 homes sold in Mount Pleasant making it the most active area in the county.
In Dorchester County, 123 homes sold at a median price of $146,000. The Summerville/Ridgeville area was the most active with 55 homes selling there.