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Is your Home worth $311,000 or More..?

Posted By: Gary Buchanan In: Charleston Home Sales
Date: Sun, Sep 24th 2017 10:58 am

The Numbers are In for August 2017.  I just read the numbers from our monthly Reports from CTAR (Charleston Trident Association of Realtors®).  Overall, they suggest the market “Shows Healthy Growth Through the Summer Session”. 

In Charleston County there were 828 properties sold (in August) and the Median Sale Price was $311,000.  They state that there was a 1% growth in Sales of Single-Family Homes, Year-to-date.  The report also stated these people paid 6.5% more for those homes (compared to a year ago).  Ouch..!!  Check out my post a month or so ago, showing the numbers for homes For Sale in the Avondale Area.

The monthly report (Charleston County) says there are around 2,836 homes for sale (end of August), which consists of 2,200 Single-Family Homes (difference being Condos/Townhomes -636).

Here are the West Ashley Stats (inside Charleston County):

  1. Median Sales Price for August Home Sales - $292,500 (up 1.7% from this time last year - $287,500)
  2. 134 Homes were sold in August (West Ashley) – This is Down 14.6% from this time Last Year (157)
  3. 983 Homes were sold Year To Date – This is down from 2016 by 3.3% (1017)
  4. 164 New Listings in August – Compared to only 153 this time last year (+7.2%)

In my opinion I would say that the Inventory in West Ashley is not as good as it was this time last year.  Why would there be More Homes for Sale in August than the same time last year, but Less Homes Sold as compared to last year (down 14.6%).?  Another reason may be that the homes are getting too expensive.  My guess as I review New Listings each day/week, is my initial thought.  There just isn’t a good selection of Homes anymore.  If that is indeed the case, then it will continue to be a Seller’s Market, especially if it is a nice house. 

Gary Buchanan/Realtor® w/AgentOwned Realty - gary@garybuchananrealty.com              843-647-7743

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