YEAR END MARKET STATS - 2016
Published February 16, 2017
MARKET ACTIVITY REPORTS
January Home Sales Exceed 1k For The First Time in A Decade
CHARLESTON, SC—(February 10, 2017) According to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR) 1,029 homes sold in January in the region at a median price of $238,900. Last January, 972 homes sold at a median price of $218,020. This marks the twelfth consecutive month that sales in the region have surpassed 1,000 homes and the first time in a decade that January sales have exceeded that benchmark.
Comparing the first month of 2017 to last year, sales volume has increased 6% and buyers are paying 9.5% more for homes in the region than they did last year.
Inventory has declined about 20% over the last 12-month period, with 4,746 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) as of January 31. We expect that inventory will begin increasing slightly in the coming months.
“We are pleased to see the residential market starting on such solid ground in 2017” said 2017 CTAR President Dave Sansom. “Last year was a strong year of growth in our market and starting the year with such substantial increases bodes well for both buyers and sellers. We’re poised to see another year of consistent growth in our market, supported by the flourishing local economy” he concluded.
Meghan Byrnes Weinreich | 843.793.5208
Marketing and Communications Director
Charleston Trident Association of REALTORS
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