this week in Charleston real estate

This week in Charleston real estate

this week in Charleston real estateThe Charleston housing market has been just about as consistent as Rory McIlroy hitting 300 + yard drives down the center of the fairway. Every week the statistics seem to be exactly what the previous week’s statistics were. And as Martha would say, that’s a good thing.

The number of homes that are available for sale in Charleston edged up slightly and as of this morning there are 5485 Charleston homes for sale. Inventory remains tight in the most popular areas and neighborhoods of Charleston. But buyers are finding homes to make an offer on and as of this morning, homes under contract remain well over 3500 with 2838 contingent and 802 pending.

This week in Charleston real estate:

  • 536 new listings came on the market.
  • 447 homes had a price adjustment.
  • 386 homes went under contract.
  • 311 homes were reported as sold this week in the Charleston MLS.

Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.

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15 April Charleston market report

Charleston Real Estate Market Report, April 2015

15 April Charleston market reportThe Charleston housing market continues to be red hot in April with home sales significantly higher than last year.

Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.

Highlights:

  • Year to date, home sales are up 19.28 percent over last year.
  • While sales are up sharply, the operative word for this market is sustainability because prices are not getting out of control and are only modestly higher.
  • Inventory remains tight especially in the most popular areas and neighborhoods of Charleston.
  • The absorption rate continues to indicate that it is a sellers market rather than a buyers market.

Monthly Home Sales

15 april monthly home sales

Monthly Home Inventory

15 april monthly home inventory

Monthly Absorption Rate

15 april monthly absorption rate

Yearly Comparison

15 april 12 month comparison

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this week in Charleston real estate

This week in Charleston real estate

this week in Charleston real estateI’ll show my age a little bit by saying that the Charleston real estate market has been kind of like a broken record. Back in the day when music was listened to on a record player rather than digitally, if your vinyl album was scratched, the same thing kept playing over and over again and that’s exactly what we’re seeing in the Charleston housing market, lots of new listings, homes going under contract and home sales every week.

With over 500 new listings coming on the market consistently, the number of homes for sale in Charleston finally edged up a little to 5425 as of this morning in the Charleston MLS. Homes under contract remain over 3500 with 2820 contingent and 771 pending.

This week in Charleston real estate:

  • 529 new listings came on the market.
  • 459 homes had a price adjustment.
  • 372 homes went under contract.
  • 318 homes were reported as sold this week in the Charleston MLS.

Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.

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this week in Charleston real estate

This week in Charleston real estate

this week in Charleston real estateApparently not everybody in Charleston was celebrating Cinco de Mayo this weekend because a lot of sellers put their homes on the market and lots of buyers were putting offers on available Charleston homes for sale.

And there were lots of closings last week too so maybe once some things got unpacked some new homeowners celebrated their purchase with a margarita.

The 1338 home sales in April that have been reported so far topped last year by better than 14 percent and as always, additional closings will get entered today and this week. It was another great month in the Charleston real estate market.

As of this morning in the Charleston MLS, the number of homes for sale remains steady at 5386. Homes under contract remain over 3500 with 2788 contingent and 747 pending.

This week in Charleston real estate:

  • 531 new listings came on the market.
  • 479 homes had a price adjustment.
  • 426 homes went under contract.
  • 435 homes were reported as sold this week in the Charleston MLS.

Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.

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this week in Charleston real estate

This week in Charleston real estate

this week in Charleston real estateIt was one more big week for the Charleston real estate market with well above average activity in terms of new listings, homes going under contract and closings.

With 4 business days left this month and 961 closings already reported, once again it’s a no brainer to predict that April home sales will easily top April 2014 when 1172 Charleston homes sold and the only question is what the percentage higher will be.

And as always, here’s a snapshot of market conditions as of this morning in the Charleston MLS. Active listings of Charleston homes for sale are steady at 5390 and homes under contract topped 3500 for the first time with 2817 contingent and 756 pending.

This week in Charleston real estate:

  • 519 new listings came on the market.
  • 434 homes had a price adjustment.
  • 409 homes went under contract.
  • 332 homes were reported as sold this week in the Charleston MLS.

Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.

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this week in Charleston real estate

This week in Charleston real estate

this week in Charleston real estateActivity remains brisk in the Charleston real estate market as you can see by the big numbers for this week.

Buyer demand remains amazingly strong and inventory remains tight in some areas and has not increased significantly since the first of the year which is atypical as we normally see during the spring selling season.

The number of active listings in the Charleston MLS as of this morning is 5404, up just slightly from last week and well below the 6000 + we saw at this time last year. Homes under contract are now very close to 3500 with 2760 contingent and 721 pending.

This week in Charleston real estate:

  • 538 new listings came on the market.
  • 430 homes had a price adjustment.
  • 433 homes went under contract.
  • 301 homes were reported as sold this week in the Charleston MLS.

Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.

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15 March Charleston Market Report

Charleston Real Estate Market Report, March 2015

15 March Charleston Market ReportOnce again, monthly home sales were sharply higher year over year with Charleston home sales almost 25 percent higher than March of last year.

Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.

Highlights:

  • The Charleston real estate market is red hot.
  • But it is sustainable unlike during the boom because we’re simply not seeing prices get out of control.
  • Interest rates remain low.
  • Demand is incredible and inventory is tight.
  • You might notice that prices at the high end of the market are down year to year but I would suggest that most likely reflects the price mix of homes being sold rather than bad conditions. There are probably a significant number of sales in the $600’s that brings down the median and average price. And home sales continue to be up sharply month after month in the luxury segment.
  • Short sales and foreclosures have become a very small and insignificant part of the market here.  New construction of course is booming and is a major competitor for sellers in selected areas that are seeing lots of new development.

Monthly Home Sales

15 march monthly home sales

Monthly Home Inventory

15 march monthly home inventory

Monthly Absorption Rate

15 march monthly absorption rate

Yearly Comparison

15 march 12 month comparison

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this week in Charleston real estate

This week in Charleston real estate

this week in Charleston real estateWe are really seeing a large number of homes go under contract and this week was especially nice since my personal home was one of those that had 2 offers (and a third with strong interest) in 3 days and is now contingent on a home inspection.

Inventory of available homes remains tight across most of the Charleston real estate market with just 5376 active listings of Charleston homes for sale as of this morning in the Charleston MLS.

And since we’re selling, it’s going to be more of a challenge to find our next home than selling our current home.

For those of you who like to keep track, homes under contract continue to climb higher into the 3000’s with 2676 contingent and 689 pending.

This week in Charleston real estate:

  • 497 new listings came on the market.
  • 477 homes had a price adjustment.
  • 420 homes went under contract.
  • 239 homes were reported as sold this week in the Charleston MLS.

Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.

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this week in Charleston real estate

This week in Charleston real estate

this week in Charleston real estateI hope everyone had a Happy Easter or are still enjoying a Happy Passover during the holiday week.

And despite spring break or possibly because of it, the Charleston real estate market was incredibly active. First, the 462 closings reported last week pushed March home sales over 1400, 24 percent higher than last March and the highest number of home sales in Charleston since last June which is always the busiest month of the year so the spring selling season kicked off really strongly and you can look for more of the same kind of activity in the coming months.

A quick look at the numbers shows inventory continues to remain subdued despite the large number of new listings we’re seeing every week. As of this morning, there are 5386 active homes for sale in Charleston. Homes under contract are still over 3000 with 2527 contingent and 677 pending.

This week in Charleston real estate:

  • 487 new listings came on the market.
  • 407 homes had a price adjustment.
  • 426 homes went under contract.
  • 462 homes were reported as sold this week in the Charleston MLS.

Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.

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this week in Charleston real estate

This week in Charleston real estate

this week in Charleston real estateBrr! The temps are unusually cold for the end of March but the Charleston real estate market is hot!

With 2 days to go in March, home sales are currently sitting at 1071 reported sales for the month and the usual flurry of end of the month closings will certainly bring the monthly total higher than last year’s 1136 sales.

New listings continue to come to market and the number of active listings as of this morning in the Charleston MLS is at 5448. The future looks bright as well with over 3200 homes under contract with 2540 contingent and 701 pending.

This week in Charleston real estate:

  • 530 new listings came on the market.
  • 435 homes had a price adjustment.
  • 383 homes went under contract.
  • 322 homes were reported as sold this week in the Charleston MLS.

Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.

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