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Market Update - Summer 2007
HOUSE SALES ARE FALLING!
Not so here in Charleston!
Well, maybe in parts of the Tri-county
area there might be too much inventory, but downtown rules.
Look at total sales south of the
crosstown on the peninsular from January 2 2006 to June 28,
2006 and from January 2, 2007 to June 28, 2007.
Average sold price has gone up by
$180,000 2007 over 2006.
Taking longer to sell this year – 120
days on market vs 96 last year. Still pretty fast.
Median Price so far in 2007 $599,000 vs
$534,000 same time last year.
Average list price has also gone up this
year by $194,000 to $1,005,723
Downtown’s most expensive home sale
closed recently for $7,100,000.
I think it was only 15 yrs ago that the
first sale of a million plus was made downtown.
We should have bought then, darn it.
Statisticians tell us that Charleston is
the 65th in list of 100 fastest growing areas in
the country. Our 650,000 tri-county area is growing all
right. No wonder, we have some of the best beaches anywhere.
Almost 4000 of our buildings in the historic district are
registered as historically significant. A huge and wonderful
inventory, matched by very few other places. Terrific
climate, many rivers and interesting and varied wildlife.
Mortgage rates are still good. Check the
links to lenders on this site for specifics.
Come and see us.
Helene Settle
Broker Associate
843 906 5916
PS – So, I didn’t prove my point did I.
House sales are falling, even in venerable historic
Charleston, but not by thaaat much and surely price increase
offsets that!
Archives:
Summer 2007 update
June Market
update
Fall 2006 update
Charleston
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