Charleston Home Sales Down 23% through October


By Molly Parker –

The Charleston Trident Association of Realtors released its October data Monday from the Multiple Listing Service. The highlights follow:

– Home sales and prices in Charleston posted declines in October.
– Last month, 549 homes sold, compared with 792 in October 2007, a 30% decline.
– Median home prices fell 7%, from $208,705 in October 2007 to $195,000 last month.
– Year-to-date sales were down 23%, from 792 through October of last year to 549 during the same time period this year.
– Year-to-date prices remained relatively steady, dropping 2% from $210,000 to $205,000.
– The largest number of homes sold last month were in the price range of $200,000 to $249,000. Eighty homes sold in this category.
– Two homes sold for less than $20,000 and 19 sold for more than $1 million.
– Certain areas of the Lowcountry showed a price increase despite the depressed economy. The median price of homes on James Island increased 2% compared with October 2007, and Folly Beach and Sullivan’s Island posted price gains of 18% and 11%, respectively.
– The average number of days on the market in October was 129, though 138 homes were on the market for a month or less before selling. An additional 200 homes that were sold last month sat on the market at least 121 days before moving.
– Condominium sales continue to support the median market price for the month, with 49 total sales with a median price of $209,000.


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