Here are some details about how the month end looked. More of the same, prices are on the rise - things might be taking a little longer to sell in some situations but prices are not dropping and although we saw an increase in inventory, it is still not enough to keep up with buyer demands.
According to the Charleston Trident Association of Realtors, at the end of the first quarter of the year, 3,674 homes have sold in the Charleston region at a median price of $394,250. At the end of Q1 last year, 5,046 homes had sold at a median price of $376,000 which reflects a 27% difference in sales year-over-year and a 5% increase in median price. Current inventory represents just over 1.5 months of supply, which is still considerably lower than the 5-6 months that we’d like to see as a representation of a healthy level of inventory but moving in the right direction.
Average Sales Price
Entire MLS $584,464| +6.5%
77 - Daniel Island $1,736,955|+39.7%
Mount Pleasant $921,878| +8.3%
51 - Peninsula Charleston Inside of Crosstown $1,538,394|+16.4%
Average Price Per Square Foot
Entire MLS $267|+3.1%
77 - Daniel Island $484| +13.9%
Mount Pleasant $363| +2.8%
51 - Peninsula Charleston Inside of Crosstown $688| +14.9%
Dollar Volume Sold
Entire MLS $935,142,983| -19.9%
77 - Daniel Island $33,002,152| -31.9%
Mount Pleasant $151,187,981| -21.4%
51 - Peninsula Charleston Inside of Crosstown $55,022,200|-44.1%
Average Days on Market
Entire MLS 43| +115.0%
77 - Daniel Island 39| +77.3%
Mount Pleasant 39| +290.0%
51 - Peninsula Charleston Inside of Crosstown 40|-42.9%
Entire MLS 1,601| -24.7%
77 - Daniel Island 19| -51.3%
Mount Pleasant 164| -27.4%
51 - Peninsula Charleston Inside of Crosstown 36| -52.0%
As the market heats up, it's more important than ever to work with an experienced real estate agent who can help you navigate the complexities of buying or selling in Charleston.
Call us to discuss your next move!
Tricia, Holly, Erin, Jill, Morgan & Lucia