Charleston Residential Real Estate Market Update as of 5-16-14Charleston Residential Real Estate Activity as of 5-16-14
Over the past week, we again had a lot of buying activity with over 300 properties going under contract.
Mt Pleasant had an especially good week with a lot of buying activity and almost half of the homes with list prices over $500k.
James Island and West Ashley also did well.
The previous week was unbelievably good in Summerville, but this past week saw weaker prices there again.
Daniel Island is an area that is doing rather well b/c of it’s central location, it’s upscale amenities, and perhaps the school system there. It has the good attributes of a resort type area without the drawbacks that the resorts sometimes have. I’m impressed at their low months of inventory.
Inventory has ticked up slightly, but the increased demand more than makes up for that.
We are in a sellers market in many areas.
The biggest thing for me about this chart is how far down the percentages are for short sales and bank owned property. We’re almost at the point that there’s no reason to even discuss them anymore. They make up only a very small segment of our market now.
Call 843-364-6720 for a Commercial Real Estate Update or email email@example.com. Thanks, David Seay, CCIM