Monday, January 28, 2019
By Ashley  Buck
December Charleston Real Estate Market Report

December Charleston Real Estate Market Report

 

Based on the data released this month, home prices were consistently up in 2018 due to the high demand for homes and a low supply of homes for sale. This means we are still in a seller's market! The unemployment rate has remained very low in 2018 (under 4%), which is positive news for the real estate market. More people employed means more people who will be looking for homeownership. Next, we will dive into the numbers and explain what that means for you if you are looking to buy or sell a home.

 

December 2018 Charleston Real Estate Statistics

New Listings - 1,126 (down 9.6% from last year)

Pending Sales - 1,103 (down 3% from last year)

Closed Sales - 1,287 (down 17% from last year)

Days on Market - 53 (same as last year)

Median Sales Price - $275,000 (up 2.3% from last year)

Percent of Asking Price Received - 96.1% (down 0.3% from last year)

Months Supply of Inventory - 3.4 (down 2.9% from last year)

 

The number of new listings to closed sales seems dramatically different, but keep in mind that delays in closings are very common (can be up to a few months). That contributes to why there are 1,103 homes pending sale. Also, remember that homes, on average, are on the market for a little less than 2 months so the majority of homes are not being listed and sold within the same month. The median sales price is up 2.3% from last year, meaning the value of your home is going up! On average, sellers are receiving 96.1% of their asking price which is only down slightly at .3% from last year. This means that you aren’t receiving full listing price if you are are a seller but it is positive news for buyers as you might be able to offer a little lower asking price to fit your budget.

 

We are still in a seller's market! We can tell this by the month's supply of inventory which is down 2.9% from last year while demand is still high. Here at Jeff Cook Real Estate, we closed on 86 homes and listed 31 homes in the month of December. We also maintained 98% (on average) of asking price received for our clients.

 

These numbers are important to know in order to be informed when the best time to list your home is! This time of year is slow, so now is the time to list! You will have less competition within your neighborhood/city and you will find you could get a higher percent of your listing price and possibly sell your home faster.

 

----------------------------------------------------------------------------------------------

Interested in selling in Charleston? Visit: www.843value.com

Interested in buying or selling in Columbia? Visit: www.SeeColumbiaHouses.com

Interested in buying or selling in Greenville? Visit: www.SeeGreenvilleHouses.com

Interested in renting a home? Visit: www.RentHolyCity.com

Interested in selling for quick cash? Visit: www.TitanHomeBuyers.com

Jeff Cook

Jeff Cook Real Estate

Charleston | Columbia | Greenville

Back