Charleston Home Sales
According to a report from the Charleston Trident Association of Realtors last Wednesday, Charleston home sales rose almost 9% in 2014. Median sales prices also jumped nearly 5% with some specific areas increasing 10-15% or more. Although sales haven’t grown as aggressively as 2013,the growth rate and price points remain steady and sustainable going into 2015.
Another measure that may indicate an even stronger market in 2015 is increased employment across the board. The employment growth rate is back to around 2% which matches pre-recession levels. Joey Von Nessen, an economist at the University of South Carolina, predicts that the jobless rate in South Carolina will fall to around 6.3% this year while housing sales will increase by 6%.
As people get back on their feet there will naturally be a demand for housing in the Charleston area and with a healthy inventory Charleston home sales should be on the rise. Michael Scarafile, who is president of Carolina One Real Estate, predicts more of the same. “Our market is poised for an extended period of success based on good, old-fashioned principles of supply and demand. Not only was 2014 a good year, home sales were accelerating and speeding up toward the end of the year (in the Charleston area). The combination of those three things sets 2015 up to be a great year,” he said.
Source: Post and Courier-“Charleston area home sales climbed 8.8% in 2014”
Read more about the Charleston Real Estate Market in 2015
Download the full report here: Charleston Trident Association of Realtors Residential Real Estate 2014 Review
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