Is it a seller or a buyer’s market in the Summerville & Charleston area? Watch Foster’s two minute video and find out the real estate market did in 2014.
We use to have 9-10 months worth of inventory in the Charleston area, and now we are down to under 6 months worth of inventory. The average list price in the Tri-County Area (Charleston, Dorchester & Berkeley) is up 4% to $361,000. The average sale price has gone up 4.7 percent to $293.000. The average price per square foot in the Tri-County Area is up 7%. Dorchester County is up 8%, Charleston County is up 5%, and Berkeley County is up 9%. The Summerville and Charleston market is coming back because of low inventory. Currently, we have just under 6500 houses on the market. The builders are back in Summerville and lots of new home construction is going up in Summerville, SC. Interest rates are still very low making it a great time for buyer’s to jump in and purchase. However, with the low inventory, we are seeing Summerville and the greater Charleston area tip over to a seller’s market, especially in certain price points.
If you would like to discuss your Summerville Home and what it is worth in our market today, please e–mail me for more information or fill out this form.