There is no better measure of home values than the average price per square foot and this chart perfectly illustrates the housing recovery in the Charleston real estate market especially during 2012.
Home prices hit a double high at an average of $175 per square foot in both April 2006 and March 2008. Most of us will recall the financial crisis during August and September of 2008 and all I can tell you is that home prices really took a hit dropping all the way to $124 by that November.
From that point, they muddled around before hitting a low of $109 per square foot in February 2011 and only improved to $113 per square foot by January 2012. But what a year 2012 was for the Charleston real estate market as the average price per square foot improved to $131 by December.
Data source, Charleston MLS, information deemed reliable but not guaranteed.