Aug
14

Charleston Home Sales Increase 29% in July

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Closings on residential real estate increased by 29% for July compared to 2010, according to preliminary data from the Charleston Trident Association of Realtors.

For the month, 829 homes sold; the median price was $180,000, about 8% lower than the median for July 2010. In 2010, 643 homes sold at a median price of $196,573. The report said the reduction in price is likely because of the increased number of foreclosed properties being sold.

“As expected, the distressed inventory continues to affect our market,” said Rob Woodul, president of the Realtors association. “Year to date, sales volume is slightly ahead of last year. We are encouraged by this slight but steady growth — it means we’re moving slowly in the right direction.”

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