Weekly Market Update Reveals Typical Summer Lull

Posted By Cathy Hunnicutt @ Jul 25th 2015 9:15am In: Market Stats

Homes Under Contract - July 17th - 23rd

Another great week in Charleston real estate market activity! A slight lull in activity is completely normal for this time of year and will most likely continue until very early spring when the market will explode once again. An $8.85 million dollar home in Downtown Charleston went under ratified contract this week - one of only eight Peninsula Charleston homes to go under contract.

307 Charleston residential properties went under contract last week. 247 were single family homes with a median list price of $239, $121/sf. 17 were listed under $100k. 13 were listed over $1M. Median days on the market is 42. Median year built is 1996. 

Only 15(6%) of 247 single family homes under contract were either foreclosures or short sales (fc/ss). Only 5% were new construction.  

40 Mt. Pleasant single family homes under contract past week and were listed from $280k to $1.25M. The median list price was $450k, $195/sf. 5 were in Park West. 18 were over $500k. 2 were under $300k and 2 were under $150/sqft. Only 1 was fc/ss and 3 were new construction.

8 Peninsula Charleston single family homes under contract during the past week and were listed from $120k to $8.85M. The median list price was $870k, at $454/sf. 6 were south of the crosstown.

35 Island homes under contract over the past week. James island - 12 (see detail). Folly Beach - 1 ($929). Johns Island - 7 (see detail). Kiawah Island - 1 ($2.2M). Seabrook Island - 2 ($460k, $569k). Edisto Island - 2 ($179k, $269k). Sullivans Island - 1 ($2.6M). Isle of Palms - 5 ($397k, $650k, $848k, $1.9M, $2M). Wild Dunes - 1 ($919k). Daniel island - 3 ($540k, $645k, $798k). 

12 James Island single family homes went under contract over the past week and were listed from $149k - $549k. The median list price was $262k or $153/sf. 4 were under $200k. 3 were over $400k. Only 1 was fc/ss.

7 Johns Island single family homes went under contract over the past week and were listed from $249k - $3.9M. The median list price was $300k or $159/sf. 2 were over $400k.

30 West Ashley single family homes went under contract this past week and were listed from $102k - $675k. 5 were under $175 and 2 were over $400k. Median list price was $259k at $137/sf. 3 were fc/ss and 2 were new construction.

17 North Charleston single family homes under contract this past week and were listed from $32k - $365k. 7 were under $100k. 4 were over $200k. Median list price is $125k or $105/sqft. Only 1 was fc/ss and 1 was new construction.

58 Summerville/Ladson single family homes went under contract over the past week. List prices ranged from $88k - $499k. 4 were in Corey Woods. Median list price was $197k, $99/sf. 4 were under $100k and 9 were over $300k. 5 were fc/ss and 2 new construction.

57 Hanahan/Goose Creek/Moncks Corner single family homes went under contract last week with listing prices from $52k - $476k. 6 were in Crowfield Plantation, 6 were in Sangaree. The median list price was $175k, $101/sf. 6 were below $100k and 3 were above $275k. 4 were fc/ss and 4 were new construction.

52 Condo/Townhomes went under contract last week. 3 were listed under $100k. 27 from $100k - $200k. 6 from $210k - $300k. 8 from $400k - $500k. 6 from $529k -$620k. 15 were in Mt. Pleasant. 1 fc/ss and 15(29%) were new construction.

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