Charleston Real Estate Market Update for February 2017
By Jeff Cook | March 10th, 2017
According to the data released today, the Charleston real estate market is holding steady in the beginning of 2017. Other than the change of another month and year, little else is changed in residential real estate both nationally and locally. Here at Jeff Cook Real Estate we plan to sell 1,080 homes in 2017 while still being able to earn 98% of asking price on average for our clients. Let's take a look at the real estate statistics for February 2017 to see how we are able to accomplish this.
In February we had 11.7% more sales pending than this time last year. That's a good growth. There has also been a 3.2% increase of listings on the market than this time last year. Median sales prices are up 11.7% from last year indicating that we are still in a seller's market..
Let's take a quick look at the February 2017 real estate statistics for Charleston.
February 2017 Charleston Real Estate Statistics
• New Listings: 2,030 (Up 3.2% from Last Year)
• Pending Sales: 1,689 (Up 11.7% from Last Year)
• Inventory for Sale: 4,837 (Down 19.4% from Last Year)
• Median Sales Price: $240,750 (Up 1.8% from Last Year)
• Months Supply of Inventory: 3.1 Months (Down 27.9% from Last Year)
• % of Asking Price Received: 95.6% (Up 0.1% from Last Year)
• Days on the Market: 69 (Down 4.2% from Last Year)
We Continue to Stay in a Seller's Market!
February was yet again another busy month for Charleston real estate sales. We had a tremendous increase in sales numbers and prices, but there is still a large decrease in available inventory as we move through the first quarter of 2017. Overall, these numbers indicate that now is the time to be a home seller in Charleston. Stay tuned next month to see the March stats.
These numbers cover all of Charleston, SC and the surrounding areas, including Daniel Island, Hanahan, Goose Creek/Moncks Corner, Wando/Cainhoy, Downtown, Historic Downtown, Edisto Area, James Island, Johns Island, West Ashley, North Charleston, Upper Mt Pleasant, Lower Mt Pleasant, Folly Beach, Isle of Palms, Sullivan's Island, Kiawah and Seabrook Islands, Summerville, Dorchester Road Corridor, Hollywood/Ravenel/Meggett, St George and Rural Dorchester County.
To view statistics by area, follow the links above. To view statistics by county, follow the links below.
Berkeley County | Charleston County | Dorchester County
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