Real Estate Market Conditions for Summerville & Charleston, SC – June 2012

Charleston Market Conditions Video Recap: If you don’t have time to watch the video here are the bulletin points!

National Real Estate:

  • National Average: 18% Decline in Inventory across the nation on average.
  • Nationally, sales have increased for the past nine months.
  • Distress Sales are DOWN.
    • Distress Sales in 2011 accounted for 40% of the sales nationally.
    • The distress sales this year are between 29-34 %.
  • Investment Sales are UP.
    • 2010-17%,of sales were by investment buyers.
    • 2011-27% of sales were by investment buyers.

Charleston Real Estate:

  • Nearly 5,000 Homes currently for sale in Charleston, SC.
  • 1500 Condos & Townhomes are for sale in Charleston, SC.
  • 7.6 months of inventory. A good balance is 5-6 months.

Summerville Real Estate:

  • 925 Homes for Sale in Summerville, SC
  • 525 Homes in Summerville are for sale under $200,000.
  • 400 Homes in Summerville are for sale over $200,000.

Recap: Inventory is down, prices are not back up, but the market is producing sales. Multiple offers are beginning to happen again.

Interested in past months of Charleston Market Condition Videos ?  You can view them all here.

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2 thoughts on “Real Estate Market Conditions for Summerville & Charleston, SC – June 2012

  1. Pingback: Vintage Park Circle Cottage Renovation « The Charleston Home Buyer

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