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Charleston National 1st Qtr. 2010 Home Sales Stats

cathy — Sun, 06 Jun 2010 02:35:58 +0000

Sales in Charleston National have improved dramatically. In the November 2008 to February 2009 period, only two homes sold in the neighborhood as compared to ten sold homes for the same time period a year later. The supply of available homes has remained relatively flat with about 25 homes on the market in any given month. As of February 2010, the inventory (supply) of homes for sale in Charleston National stood at seven months, very close to a balanced market.

Charleston National Sales & Price Stats 2005-2009

cathy — Wed, 03 Feb 2010 15:11:59 +0000

The number of homes sold in Charleston National in 2009 increased to 26 after a paltry 18 sales in 2008. The average days a home was on the market in Charleston National in 2009 was 125, basically just one week longer than the 117 days on market for 2008.

The average price per square foot of homes sold in Charleston National in 2009 was $135/sf down significantly from $149/sf in 2008 and $160/sf in 2007. The drop reflects a number of short sales, foreclosure and REO sales in the neighborhood in 2009.

The median and average prices of homes sold in Charleston National have trended downward since their peak in 2006; however the actual rate of decline has slowed.

The number of homes on the market in Charleston National at the beginning of 2010 was 22, a decrease from 30 homes on the market in early November.

Charleston National Market Statistics

cathy — Mon, 16 Nov 2009 15:55:21 +0000

Charleston National

Annual Real Estate Market Summary

(single family homes)

	2005	2006	2007	2008	2009 to Nov. 9	Active On Mkt
# Homes Sold	63	45	32	18	22	30
Average Days on Market	30	61	116	117	112	219
Price/Sq Foot	159	172	160	149	137	162

Average Price	366,000	385,000	351,000	326,000	312,000	408,000

Median Price	335,000	373,000	344,000	321,000	289,000	360,000

Lowest Price	230,000	280,000	260,000	241,000	225,000	169,000

Highest Price	1,050,000	640,000	495,000	419,000	450,000	1,400,000

Home sales in the Charleston National neighborhood have mirrored sales throughout the Charleston area. The number of sales decreased from 2005 through 2008. The number of sales in 2009 improved over 2008. The average number of days that homes were on the market increased from 2005 through 2007 but decreased slightly in 2009. The price per square foot of the homes that have sold increased from 2005 to 2006 and then decreased 2007 to 2009. As distressed properties (foreclosures and short sales) clear the market, home values are expected to stabilize.

In the Mount Pleasant and Charleston area, the total inventory of homes has decreased every month since May, a strong indicator that we are moving toward a more balanced real estate market. Competitively priced homes in good condition are moving off the market briskly, going under contract in under 30 days, especially in the Mount Pleasant area.

All figures from Charleston Trident Multiple Listing Service, believed to be correct but not guaranteed.