Charleston Real Estate Market Update for December 2016
By Jeff Cook | January 18th, 2017
According to the data released today, the Charleston real estate market finished strong in 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 December 2016 to see how we are able to accomplish this.
In December we had 20.3% more sales pending than this time last year. That's a HUGE growth. There has also been a 8.6% increase of listings on the market than this time last year. Median sales prices are up 1.7% from last year indicating that we are still in a seller's market..
Let's take a quick look at the December 2016 real estate statistics for Charleston.
December 2016 Charleston Real Estate Statistics
• New Listings: 1,266 (Up 8.6% from Last Year)
• Pending Sales: 1,272 (Up 20.3% from Last Year)
• Inventory for Sale: 4,733 (Down 19.5% from Last Year)
• Median Sales Price: $244,000 (Up 1.7% from Last Year)
• Months Supply of Inventory: 3.1 Months (Down 26.2% from Last Year)
• % of Asking Price Received: 96.1% (Up 0.4% from Last Year)
• Days on the Market: 60 (Down 3.2% from Last Year)
We Continue to Stay in a Seller's Market!
December was yet again another busy month for Charleston real estate sales. We had increased sales numbers and prices, but there is still a large decrease in available inventory as we move into 2017. Overall, these numbers indicate that now is the time to be a home seller in Charleston. Stay tuned next month to see how 2017 started out!
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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