Lowcountry home sales, prices up from last year

By Ashley Barker
abarker@scbiznews.com
Published August 13, 2014

The number of homes sold in the Lowcountry and their median price tag during the month of July increased from 2013, according to preliminary data released by the Charleston Trident Association of Realtors.

The association said 1,380 homes sold last month at a median price of $216,250. In July 2013, 1,272 homes sold at a median price of $209,250.

Year-to-date residential sales are also on the rise in the region, the association said. About 8,000 homes have sold so far in 2014 at a median price of roughly $216,000. Through July 2013, about 7,400 homes sold at a median price of $200,000.

Lowcountry home sales, price up from last yearThe data show a small decrease in both price and number of homes sold since May. The association’s adjusted figures show that 1,444 homes sold in May at a median price of $227,245.

At the end of July, the association said 5,961 homes were listed as active for sale in the Charleston MLS. That’s a slight increase from the 5,770 homes that were listed last July.

“Our housing market continues to be where the economy experts thought it would be — steady, sustainable growth in both closed transactions and median price,” said CTAR President Corwyn Melette in a statement. “With five straight months of inventory growth — albeit small, single-digit percentage growth — some prospective buyers, who may not have found what they were looking for in the spring, should take another look and see if they find something that fits their needs now.”

In Berkeley County, slightly more than 300 homes sold at a median price of $189,909 in July. The northern area — bordered by Jedburg Road, U.S. Highway 17A and College Park Road — was the most active spot in the county with 83 sales at a median price of $188,500, the association said.

Nearly 740 homes sold at a median price of $272,500 in Charleston County last month, according to the association. Mount Pleasant was the most active area in the county with 230 homes sold at a median price of $367,500. West Ashley, outside of Interstate 526, followed with 110 sales at a median price of $212,000, and North Charleston, outside of Interstate 526, rounded out the top three spots in the county with 84 sales at a median price of $150,000.

In Dorchester County, 278 homes sold at a median price of $181,437 in July. The most active areas were Summerville and Ridgeville, where 131 homes sold at a median price of $209,000, the association said.

The Charleston Trident Association of Realtors recently moved into a new facility at Centre Pointe in North Charleston. The association’s headquarters is now located at 5006 Wetland Crossing Drive.

The Boeing Co. acquired the association’s former site at 5300 International Blvd. for future expansion.

Reach staff writer Ashley Barker at 843-849-3144 or @AshleyNBarker on Twitter.

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