When a picture says a 1000 words... There has been so much talk about the real estate market crashing and sellers missing the market. These graphs look just at the month of August compared to August of 2021 and 2020. Average price per square foot and average sales price for August sales were still considerably higher than 2020. Average days on market is also lower.
Average Price Per Square Foot
Entire MLS $264 | +15.3% 77 - Daniel Island $488 | -0.6% 42 - Mt Pleasant S of IOP Connector $414 | +25.1% 51 - Peninsula Charleston Inside of Crosstown $631 | +18.2%
Average Days on Market
Entire MLS 19 | +18.8% 77 - Daniel Island 14 | 0.0% 42 - Mt Pleasant S of IOP Connector 18 | -5.3% 51 - Peninsula Charleston Inside of Crosstown 71 | -4.1%
Average Sales Price
Entire MLS
$553,516 | +15.0% 77 - Daniel Island $1,618,060 | +35.2% 42 - Mt Pleasant S of IOP Connector $805,312 | +10.4%
51 - Peninsula Charleston Inside of Crosstown $1,717,865 | +89.2%
Homes For Sale
Entire MLS 2,985 | +21.8% 77 - Daniel Island 40 | +2.6% 42 - Mt Pleasant S of IOP Connector 113 | +9.7% 51 - Peninsula Charleston Inside of Crosstown 118 | -43.0%
The dollar volume of closed sales is lower in most areas, a great indicator that rising interest rates, buyers concerns of a changing market, and inflation has decreased the number of transactions although Charleston pricing is still holding.
Dollar Volume Sold
Entire MLS $906,669,933| -12.6%
77 - Daniel Island $4,575,000| -66.4%
Mount Pleasant $147,437,527| -20.2%
51 - Peninsula Charleston Inside of Crosstown $56,689,550|+20.1 %
If you are thinking of buying or selling, it is a great time for both! What you see on the news, is not always the reality! Call us to discuss!