CHARLESTON, SC—(February 10, 2015) According to data released today by the Charleston Trident Association of Realtors® (CTAR), January home sales in the Charleston region are the highest they’ve been in eight years. Not since January 2007 have monthly sales surpassed the 800 closing mark. In January 2015, 890 homes sold at a median price of $209,603.
The region saw eerily similar figures in January 2007, when 890 homes sold at a median price of $209,945. The striking difference between the 2007 market and current market however, is the inventory. Eight years ago, there were almost 9,000 homes for sale; today, there are just over 5,500—37% less homes for buyers to choose from.
“With significantly less inventory, buyers are still finding what they want,” said 2015 CTAR President, Matt DeAntonio. “It gives us all a boost of confidence to see our market back where it was eight years ago in terms of sales volume and pricing. It looks like 2015 is off to a great start!” said DeAntonio. “This year, we expect to see continued growth of sales and with pricing, but likely at a more moderate pace than 2014” he continued.
The Association and Charleston Trident Multiple Listing Service (CTMLS) expects to see inventory increase throughout the year and currently shows 5,503 homes listed as “active” for sale in the MLS.