Charleston Real Estate Market

 Sometimes we hear a statement over and over and come to regard it as fact. I know I’m guilty of the same thing. But the fact of the matter is that even in this market, people buy and sell homes. They graduate, marry, divorce, have twins or get transferred…and sell their house.

I’d like to share some numbers with you that surprised me. I compared single family homes, since the first of this year, on James Island and the entire Multiple Listing Service area.

                                        James Island             Status                  MLS

 Under $200,000                       29                   Active                      2218

                                                         12                   Contracted               344

                                                           0                   Pending                     266

                                                         39                   Sold                            2382

200,000-300,000                     121                  Active                         1476

                                                        16                   Contracted                   176

                                                          1                    Pending                       162

                                                      133                    Sold                            1495

300,000-400,000                      77                   Active                            788

                                                        10                   Contracted                     68

                                                          4                   Pending                           43

                                                         59                   Sold                            565                                

$400,000-500,000                    48                   Active                            520

                                                           5                   Contracted                      43

                                                           0                   Pending                           14

                                                          19                  Sold                                286

$500,000-1 Million                   69                  Active                          1407

                                                            4                  Contracted                      48

                                                            0                  Pending                           23

                                                          22                  Sold                                443

$1 Million +                                 20                   Active                          1034

                                                            1                   Contracted                       26

                                                            0                   Pending                              7

                                                            3                   Sold                                 176    

Homes are selling. They need to look their absolute best and be priced to sell. Yes, loans are harder to get and investment loans are asking 20% down, but people are selling and people are buying, especially in a destination market like Charleston.

If you’re ready or know someone who may be interested, call me. Buying or selling in the Lowcountry or across the globe, I’m ready to go to work.

Talk to you soon, I hope.

Filed under: Around Town, Business News, Real Estate News on October 6th, 2008