Jul
14

Charleston Home Sales Down 30% in June Compared to 2007

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July 14, 2008

Local home sales floundered and prices dropped in June during what typically is one of the real estate industry’s most-robust months. A total of 835 homes sold last month, a 29.7 percent decline compared to the same month last year, according to figures released by the Charleston Trident Association of Realtors. More than 90 percent of the properties were single-family homes.

The weakening demand for real estate pushed the median home price down 7.2 percent to $209,855.

That fall in value represents the steepest year-over-year price drop the Charleston area has recorded since home sales began falling more than two years ago.

LINK TO ARTICLE HERE:
http://www.charleston.net/news/2008/jul/14/week_review47275/

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