Category Archives: Market Reports

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.

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

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.

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.

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.

this week in Charleston real estate

This week in Charleston real estate

this week in Charleston real estateMarch madness is in full swing and so is the Charleston real estate market which is just crazy good. The numbers this week in the Charleston housing market are incredible just like Kentucky’s season so far (and I hope I didn’t just jinx the Cats).

Once again, new listings topped 500 but homes going under contract topped 400 for the first time this year. Closings came early and often and with plenty of time left in the month, 750 have been reported so far and just 386 more home sales are needed to match last year. The only question is what percentage growth in home sales we’ll see year over year this March.

For those of you keeping track every week, there are 5392 active listings as of this morning in the Charleston MLS which is still pretty low considering all the homes that keep coming on the market. Homes under contract are now well over 3000 with 2484 contingent and 696 pending.

This week in Charleston real estate:

  • 522 new listings came on the market.
  • 448 homes had a price adjustment.
  • 408 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.

This week in Charleston real estate, Happy St. Patrick's Day

This week in Charleston real estate

This week in Charleston real estate, Happy St. Patrick's DayHappy St. Patrick’s Day!

And speaking of green, buyers are spending it and sellers are receiving it at an incredibly active pace right now in the Charleston housing market.

Once again another 500 new listings came on the market but the total number of homes available for sale didn’t budge with 5362 active listings in the MLS as of this morning, one less than last week.

The big news in homes under contract is that we have now topped 3000 homes for the first time this year with 2430 contingent and 666 pending.

This week in Charleston real estate:

  • 506 new listings came on the market.
  • 414 homes had a price adjustment.
  • 396 homes went under contract.
  • 233 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.

15 february charleston market report

Charleston Real Estate Market Report, February 2015

15 february charleston market reportFebruary marked one more month with monthly home sales sharply higher than last year with Charleston home sales over 20 percent higher than February of 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 over 16 percent higher than during the same period last year and the strong start to this year forecasts another solid year for the Charleston real estate market.
  • If you counted all sales in the Charleston MLS rather than just the sales in the Charleston metropolitan area of Charleston, Dorchester and Berkeley County, the total would be 1009, a 23 percent gain over the 821 that were reported in February of 2014 and the first time that February home sales topped 1000 since 2006.
  • Inventory remains subdued and while there are a large number of homes coming on the market every day, buyer activity is so strong that inventory is being absorbed nicely.
  • Prices are slightly higher and that is one important reason that continued growth is sustainable.

Monthly Home Sales

15 february monthly home sales

Monthly Home Inventory

15 february monthly home inventory

Monthly Absorption Rate

15 february monthly absorption rate

Yearly Comparison

15 february 12 month comparison

 

this week in Charleston real estate

This week in Charleston real estate

this week in Charleston real estateI’m pretty certain without looking back at previous weeks that this is the first time this year that over 500 new listings came on the market in Charleston but the most interesting thing is that the total number of listings for sale remains fairly steady and stable with 5363 active homes for sale in Charleston as of this morning in the Charleston MLS. That’s due to one very important thing and that is that buyer activity has been so strong absorbing available inventory.

It could also be the first time ever that February sales topped 1000 for the month although if you only count Charleston, Dorchester and Berkeley County, it will wind up being slightly less than that and you can look for the (almost) final numbers later this week in the monthly Charleston real estate report. The future continues to look bright as well with over 200 closings already reported for the first week of March and homes under contract continue to edge closer to 3000 with 2309 contingent and 641 pending.

This week in Charleston real estate:

  • 514 new listings came on the market.
  • 431 homes had a price adjustment.
  • 354 homes went under contract.
  • 310 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.

this week in Charleston real estate

This week in Charleston real estate

this week in Charleston real estateFebruary might be short but it can be a brutal month for weather as it was this year not only here in Charleston but apparently it was much worse around the country so thankfully, it’s finally March.

On a positive note, February home sales were once again excellent and as of this morning (with additional sales likely to be reported later today and this week), Charleston home sales in February were over 10 percent higher than last year.

Now you might think that active listings are climbing toward 6000 when you see the high number of new listings every week but as of this morning in the Charleston MLS we’re sitting at 5282 homes for sale. Homes under contract are climbing toward 3000 though with 2262 contingent and 650 pending.

This week in Charleston real estate:

  • 438 new listings came on the market.
  • 331 homes had a price adjustment.
  • 377 homes went under contract.
  • 328 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.