Charleston Real Estate Summary
Charleston real estate activity has been very robust this Spring. Overall, we are up 7.1% in transactions ytd over the same period in 2015. And up 5.3% in median sales price to $237k. There are a number of areas however that are down from 2015. This has to do with the fact that 2015 was awesome and it hard to keep up that pace and also current inventory is very low. Very few areas are down in price. James Island is a notable exception. But also notice that James Island heads the list on the MOI chart. We now have 19 MLS areas with less than 5 MOI. Also, on the weekly number of contingents chart, notice that we have had 7 weeks with over 400 properties going contingent on the hot sheet.
The busiest week in Charleston real estate history occurred last spring when there were 439 properties under contract. Although we haven’t broken that record yet this year we have been very close for several weeks.
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