Charleston Real Estate Market Update for July 2017
By Jeff Cook | August 10th, 2017
According to the data released today, the Charleston real estate market is still going strong as we enter the third quarter 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 July 2017 to see how we are able to accomplish this.
In July, Charleston saw 14.2% more sales pending than this time last year. However, there has only been a 2.9% increase of listings on the market than this time last year. Because of the small increase in inventory, median and average sales prices have jumped up 7.8% and 11.6%, respectively, from last year. Houses still aren't staying on the market as long, indicating that we remain in a seller's market!
Let's take a quick look at the July 2017 real estate statistics for Charleston.
July 2017 Charleston Real Estate Statistics
• New Listings: 2,039 (Up 2.9% from Last Year)
• Pending Sales: 1,750 (Up 14.2% from Last Year)
• Inventory for Sale: 5,304 (Down 16.1% from Last Year)
• Median Sales Price: $258,705 (Up 7.8% from Last Year)
• Months Supply of Inventory: 3.4 Months (Down 22.7% from Last Year)
• % of Asking Price Received: 96.7% (Down 0.1% from Last Year)
• Days on the Market: 51 (Down 3.8% from Last Year)
We Continue to Stay in a Seller's Market!
July was yet again another good month for Charleston real estate sales. The slight increase in new listings while so many homes went under contract caused many multiple offer situations and increased sales prices. The demand is high and we need inventory! Now is the BEST time to be a home seller in Charleston. Stay tuned next month to see the August housing 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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