Introducing a new feature, “This week in Charleston real estate” where every Monday morning I’ll post a weekly activity recap of new listings that came on the market, homes that went under contract and home sales that closed in the past 7 days.
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.
There were 317 new listings in the past week with an average list price of $322,068. 165 homes went under contract at an average price of $273,069 and 246 home sales closed at an average price of $229,272.
A quick point regarding the number of closings this week. The last week of the month is traditionally the strongest week for closings with many buyers preferring to close toward the end of the month due to interim interest (how much additional funds have to be brought to closing.
The best news in this report is the number of homes that went under contract. 165 weekly is 23.5 daily and that would project to 707 closings over a 30 day month if every home sold (which unfortunately all will not) but that is still a very strong number considering that we are going into the 4th quarter of the year when sales usually slow due to the holiday season.