September Brings Lower Temps, But Still Hot Market

September is approaching and with it comes the promise that lower temps will soon be moving in. Speaking of moving in, real estate buyers are looking for lower prices in Charleston, but these can be hard to find when inventory is low and sellers still have an upper hand on pricing.

 

Short sales and foreclosures remain an irrelevant topic here. Not many to be found. Occasionally, you can find an estate sale, but be ready to compete with multiple offers!

 

New construction now makes up over 35% of what’s under contract. There are several MLS areas where new construction is over 45% of what’s under contract!

 

YTD, we are basically flat on transactions compared to same 2017 period. Last year was a record year, so this year will either beat that or be close.

 

YTD, median sales price is up 5.9% over the same period from 2017. However, many areas are up significantly more than that. Median sales price is now at a record $270k.

 

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