It’s no secret that the Charleston real estate market is hot. It’s been hot for sometime now, but now we’re starting to hit uncharted territory. To get a good measure of how busy the market is, we look at how many homes are under contract per week. Last week there were 458 homes under contract which set the all time record for the Charleston area!
With inventory remaining low and demand still extremely high we may possibly see more records broken later this year. Buying activity has been very strong in most areas including Johns Island, Mt. Pleasant, and Goose Creek. From April 27th through May 3rd, 25 homes sold for more than a million dollars which tells us all areas of the market are thriving right now.
Check out these Charleston real estate stats by area for the week of April 27 – May 3rd:
- 335 single family homes under contract past wk. Median LIST price $298k,$145/sqft. 6 under $100k. 25 over $1M, 6 of those over $2M. Median 19 CDOM. Median Yr Blt 2001
- 7(2%) of 335 single family homes under contract past wk BANK OWNED FORECLOSURES or SHORT SALES. Another 10% new construction. 2 of 2 short sales in areas 31/32, 61-76
- 56 island single family homes under contract past wk. James-16,Folly-1($460k)Johns-17,Edisto-5($365k,$454k,$489k,$629k,$699k),Seabrook-4($349k,$379k,$559k,$649k),Sullivan-2($950k,$1.6M),IOP-2($1.4M,$1.7M),WildDunes-4($925k,$1.1M,$1.7M,$2.1M),Dan-5($540k,$590k,$865k,$1.1M,$1.7M)
- 16 James Island single family homes under contract past wk LISTED from $250k-$1.3M. 2 under $300k. 3 over $600k. Median $395k,$207/sqft. 2 under $160/sqft. 1 new construction. 4 Seaside Plantation.
- 17 Johns Island single family homes under contract past wk LISTED from $120k-$699k. 1 under $220k. 4 over $400k. Median $275k,$166/sqft. 1 new construction. 3 Summertrees.
- 39 West Ashley single family homes under contract past wk LISTED from $99k-$533k. 4 under $175k. 7 over $400k. Median $335k,$153/sqft. 5(13%) new construction. 6 Carolina Bay.
- 30 North Chas single family homes under contract past wk LISTED from $70k-$425k. 3 under $100. 4 Park Circle. Median $164k,$127/sqft. 2 new construction.
- 42 Mt Pleasant single family homes under contract past wk LISTED from $339k-$2.2M. 4 Dunes West, 4 Park West. 11 over $1M. Median $617k,$240/sqft. 2 under $160/sqft. 6(14%) new construction.
- 12 Peninsula Charleston single family homes under contract past wk LISTED from $349k-$4.1M. 4 over $2M. Median $836k,$517/sqft. 7 south of crosstown.
- 74 Summerville/Ladson single family homes under contract past wk LISTED from $50k-$600k. 1 under $125k. 6 over $400k. 4 Wescott. Median $225k,$121/sqft. 2 BANK OWNED FORECLOSURES or SHORT SALES. 5 new constr
- 77 Hanahan/Gs Creek/Moncks Cnr single family homes under contract past week LISTED from $60k-$750k. 16 Cane Bay. Median $223k,$126/sqft. 1 under $125k. 3 over $400k. 3 BANK OWNED FORECLOSURES or SHORT SALES. 9(12%) new construc
- 91 condo/townhomes under contract past wk. 2 LISTED under $100k. 45 from $100k-$199k. 23 from $200k-$299k. 15 from $300k-$499k. 4 from $500k-$625k. 2 at $995k,$1.1M. 0 BANK OWNED FORECLOSURES or SHORT SALES. 10(11%) new construction
Have questions about the Charleston real estate market?
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Matt Anderson
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(843) 437-8386
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