Berkeley County Activity Leads to Increased Home Sales in March
CHARLESTON, SC—(April 10, 2014) According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,110 homes sold at a median price of $219,316 in March. Last March, 1,075 homes sold at a median price of $200,789 in the region.
Inventory increased significantly in March–there are currently 5,873 homes listed as ‘active’ for sale in the Charleston Trident Multiple Listing Service (CTMLS). Last March there were 5,745 homes available and last month, 5,565. A growing inventory will supply interested buyers with more choices and keep prices from inflating on an unrealistic basis.
“As the spring buying season begins, the expected trend has continued—a small but sustainable increase in sales” said 2014 CTAR President Corwyn Melette. “The additional inventory will result in more interested buyers and help keep our market stable over the next few months. The substantial sales gains this month in Berkeley County were supported by a concentration of activity in the new Cane Bay Plantation and Daniel Island as well” said Melette.
Preliminary data reported for February 2014 indicated that 791 homes sold at a median price of $210,000. Adjusted figures now show 813 homes sold a median price of $207,000.
248 homes sold at a median price of $176,601 in Berkeley County in March. Last March, 201 homes sold at a median price of $168,000. The most active area in the county was in the North area bordered by Jedburg Road, Highway 17A and College Park, with 59 sales at a median price of $171,500.
In Charleston County in March, 626 homes sold at a median price of $280,000. Last March, 649 homes sold at a median price of $245,000. 210 homes sold in Mt. Pleasant at a median price $390,633. Other top areas were West Ashley (outside I526) with 77 sales at a median price of $219,000 and North Charleston (outside I-526) with 64 sales at a median price of $131,295.
191 homes sold at a median price of $159,000 in March in Dorchester County. Last March, 189 homes sold at a median price of $162,500. The most active area was Summerville/Ridgeville, where 85 homes sold at a median price of $173,000.