Apr
21

Charleston Region Leads State in Home Price Growth

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The Charleston area continues to lead the state in home price increases and speed of sales.

The region’s median price between January and March was $215,000, up 13.2 percent compared to the first quarter in 2013, according to South Carolina Realtors’ quarterly report.

The Charleston region was better than the Southern Midlands region, which recorded a 10.4 percent hike to $70,750; and Western Upstate, which recorded a 6.9 percent increase to $130,000 in the quarter, according to the Columbia-based trade group.

Local real estate experts have said the Charleston region’s strong price increases are tied to a low inventory of homes in the first three months of the year.

There’s been hints that price increases could slow as more homes enter the market during the busy spring and summer months, officials have said. Charleston also continues to lead the state in the time it takes to sell a home.

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