Monday, April 22, 2019
By Ashley  Buck
March 2019 Charleston Real Estate Market Report

March Charleston Real Estate Market Report

The Federal Reserve revealed that there are no further interest rate hikes planned for 2019. This is good news for buyers and sellers as rapidly increasing interest rates have been deterring potential buyers from taking the plunge into home ownership. As we head into the busy season of the year, we will see how this affects the number of new listings and homes sold. 

 

March 2019 Charleston Real Estate Statistics

New Listings - 2,526 (down 1.4% from last year)

Pending Sales - 2,012 (up 6% from last year)

Closed Sales - 1,561 (down 9.1% from last year)

Days on Market - 59 (down 1.7% from last year)

Median Sales Price - $275,000 (up 5.8% from last year)

Percent of Asking Price Received - 96.1% (down 0.6% from last year) 

Months Supply of Inventory - 3.7 (down 2.6% 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 2,012 homes pending sale. Also, remember that homes, on average, are on the market for roughly 2 months so the majority of homes are not being listed and sold within the same month. The median sales price is up 5.8% from last year, meaning the value of your home is going up! For buyers though, home affordability might be a topic for discussion. On average, sellers are receiving 96.1% of their asking price which is only down slightly at .6% from last year. This means that you might not receive full listing price if you are a seller but it is positive news for buyers as you might be able to come in with an offer below asking price to fit your budget and still get the home of your dreams!

 

We are still in a seller's market! We can tell this by the month's supply of inventory which is 3.7 months making demand still high. Here at Jeff Cook Real Estate, we closed on 131 homes and listed 55 homes in the month of March. 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 will be busy with motivated sellers wanting to list their home to meet some of their yearly goals. Now is the time to list as the year continues to get busier! 

 

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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

Want your Jeffstimate? Visit: www.JeffSellMineToo.com

Jeff Cook

Jeff Cook Real Estate

Charleston | Columbia | Greenville

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