As we head into the last few months of the year, I wanted to give you an update on the Charleston market for the end of October. Here’s what we’ve been seeing lately.
This might be the first year that we surpass 18,000 home sales in the Charleston Tri-County area. Buyer activity is up 3.3% over the last month and our median sale price is up 4.1% to $254,000.
“Each pocket of the market is a little different.”
Right now, the market average for inventory is just 3.1 months. That puts us in a pretty strong seller’s market.
Although the numbers above are an average of the entire Tri-County area, they don’t tell the full story of the market. Each little pocket of the market has its own unique set of characteristics. There are about 20 of those pockets that are in seller’s markets right now. Another nine pockets are seeing a bit more of a balanced market and there are three pockets out there that are in buyer’s markets.
If you want to know what’s going on in your specific pocket of the market, don’t hesitate to give me a call or send me an email. We look forward to hearing from you soon.