Charleston Real Estate Sales

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Local sales date for Charleston, SC

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Charleston Real Estate Sales

  1. 1. Monthly IndicatorsA RESEARCH TOOL PROVIDED BY THE CHARLESTON TRIDENT ASSOCIATION OF REALTORS®March 2011 Quick FactsThis months numbers are stuck in the shadow of the spring 2010 incentivemarket. A number of factors hinder a full-scale housing recovery, yet there are + 8.3% - 3.6% - 16.4%positives that suggest improving consumer confidence. Slowing unemploymentclaims, strong corporate balance sheets and 13 months of private job growth Change in Change in Change in Closed Sales Median Sales Price Inventoryare cause for long-dormant optimism. Lets see if our local glass is half emptyor half full.New Listings in the Charleston region decreased 20.6 percent from last Marchto 1,739 new homes. Pending Sales decreased 7.5 percent to land at 980 Market Overview 2contracts written. As a result, inventory levels decreased 16.4 percent from last New Listings 3year to reach 8,663 active listings. Pending Sales 4Prices lost some ground – the March Median Sales Price of $177,737 Closed Sales 5decreased 3.6 percent. Negotiations moved toward buyers as Percent of Days On Market Until Sale 6Original List Price Received at Sale decreased 2.1 percent to 89.1 percent. The Median Sales Price 7market moved toward balance as Months Supply of Inventory decreased to11.3 months. Average Sales Price 8 Percent of Original List Price Received 9The national interest rate is 5.11 percent on a 30-year fixed; the national Housing Affordability Index 10unemployment rate dropped to 8.8 percent in March. Several importantchanges to the mortgage industry are on the horizon. Ensuring access to Inventory of Homes for Sale 11adequate mortgage capital for qualified buyers is key to housing recovery. This Months Supply of Inventory 12will require substantial reforms to Fannie and Freddie. Click on desired metric to jump to that page. All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | 1
  2. 2. Market OverviewKey market metrics for the current month and year-to-date figures. Key Metrics Historical Sparklines 3-2010 3-2011 +/– YTD 2010 YTD 2011 +/– New Listings 2,190 1,739 - 20.6% 5,752 4,715 - 18.0% 3-2008 3-2009 3-2010 3-2011 Pending Sales 1,059 980 - 7.5% 2,512 2,514 + 0.1% 3-2008 3-2009 3-2010 3-2011 Closed Sales 758 821 + 8.3% 1,767 1,910 + 8.1% 3-2008 3-2009 3-2010 3-2011 Days on Market Until Sale 104 116 + 11.2% 115 116 + 0.3% 3-2008 3-2009 3-2010 3-2011 Median Sales Price $184,414 $177,737 - 3.6% $185,000 $173,995 - 5.9% 3-2008 3-2009 3-2010 3-2011 Average Sales Price $263,410 $253,372 - 3.8% $265,608 $246,446 - 7.2% 3-2008 3-2009 3-2010 3-2011 Percent of Original 91.0% 89.1% - 2.1% 90.4% 88.6% - 2.0% List Price Received 3-2008 3-2009 3-2010 3-2011 Housing Affordability Index 135 147 + 8.5% 135 149 + 10.7% 3-2008 3-2009 3-2010 3-2011 Inventory of Homes for Sale 10,363 8,663 - 16.4% -- -- -- 3-2008 3-2009 3-2010 3-2011 Months Supply 13.9 11.3 - 18.5% -- -- -- of Homes for Sale 3-2008 3-2009 3-2010 3-2011 All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 2
  3. 3. New ListingsA count of the properties that have been newly listed on the market in a given month.March Year To Date Month Prior Current +/– Year Year April 1,695 1,932 +14.0% 2,190 May 1,710 1,670 -2.3% 5,752 June 1,652 1,716 +3.9% 1,877 5,315 1,739 July 1,639 1,558 -4.9% 4,715 August 1,626 1,666 +2.5% September 1,619 1,399 -13.6% October 1,605 1,238 -22.9% November 1,217 1,101 -9.5% December 1,133 961 -15.2% January 1,808 1,514 -16.3% February 1,754 1,462 -16.6% +16.7% -20.6% +8.2% -18.0% March 2,190 1,739 -20.6% 2009 2010 2011 2009 2010 2011 12-Month Avg 1,637 1,496 -8.6%Historical New Listing Activity3,0002,5002,0001,5001,000 500 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 3
  4. 4. Pending SalesA count of the properties that have offers accepted on them in a given month.March Year To Date Month Prior Current +/– Year Year April 781 1,213 +55.3% 1,059 May 848 667 -21.3% 980 2,512 2,514 June 808 699 -13.5% July 846 740 -12.5% 1,798 August 825 744 -9.8% 695 September 775 732 -5.5% October 820 612 -25.4% November 578 642 +11.1% December 514 533 +3.7% January 706 709 +0.4% February 747 825 +10.4% +52.4% -7.5% +39.7% +0.1% March 1,059 980 -7.5% 2009 2010 2011 2009 2010 2011 12-Month Avg 776 758 -2.3%Historical Pending Sales Activity2,0001,8001,6001,4001,2001,000 800 600 400 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 4
  5. 5. Closed SalesA count of the properties that have closed in a given month.March Year To Date Month Prior Current +/– Year Year April 578 865 +49.7% 821 May 742 943 +27.1% 758 June 791 1,109 +40.2% 1,910 625 1,767 July 880 677 -23.1% 1,506 August 754 712 -5.6% September 771 703 -8.8% October 803 663 -17.4% November 851 616 -27.6% December 656 678 +3.4% January 450 508 +12.9% February 559 581 +3.9% +21.3% +8.3% +17.3% +8.1% March 758 821 +8.3% 2009 2010 2011 2009 2010 2011 12-Month Avg 716 740 +5.2%Historical Closed Sales Activity2,0001,8001,6001,4001,2001,000 800 600 400 200 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 5
  6. 6. Days on Market Until SaleThe average number of days between when a property is first listed and when an offer is accepted. Sold properties only.March Year To Date Month Prior Current +/– Year Year April 119 111 -6.3% 123 May 114 109 -4.0% 116 115 115 116 June 112 96 -14.6% 104 July 119 107 -9.7% August 115 105 -9.0% September 105 99 -6.3% October 102 99 -3.0% November 97 103 +6.5% December 117 110 -5.6% January 128 116 -9.8% February 120 115 -3.9% -15.4% +11.2% -0.2% +0.3% March 104 116 +11.2% 2009 2010 2011 2009 2010 2011 12-Month Avg 112 107 -4.4%Historical Days on Market Until Sale140120100 80 60 40 20 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 6
  7. 7. Median Sales PriceThe median sales price for all closed sales in a given month. Sold properties only. Does not account for seller concessions.March Year To Date Month Prior Current +/– Year Year April $182,500 $178,950 -1.9% $184,990 $184,414 $181,925 $185,000 $177,737 $173,995 May $185,000 $186,000 +0.5% June $193,638 $186,827 -3.5% July $185,000 $195,000 +5.4% August $187,000 $199,990 +6.9% September $176,026 $189,990 +7.9% October $170,370 $194,995 +14.5% November $174,000 $193,500 +11.2% December $194,938 $180,000 -7.7% January $193,000 $173,990 -9.8% February $179,900 $166,500 -7.4% -0.3% -3.6% +1.7% -5.9% March $184,414 $177,737 -3.6% 2009 2010 2011 2009 2010 2011 12-Month Avg $183,050 $185,000 +1.1%Historical Median Sales Price$220,000$210,000$200,000$190,000$180,000$170,000$160,000 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 7
  8. 8. Average Sales PriceThe average sales price for all closed sales in a given month. Sold properties only. Does not account for seller concessions.March Year To Date Month Prior Current +/– Year Year April $270,880 $253,030 -6.6% $263,410 $265,608 May $257,561 $262,696 +2.0% $252,688 $253,372 $254,669 $246,446 June $263,392 $254,601 -3.3% July $258,672 $275,297 +6.4% August $249,894 $295,771 +18.4% September $234,350 $264,200 +12.7% October $242,476 $263,727 +8.8% November $224,112 $259,382 +15.7% December $286,550 $262,802 -8.3% January $271,665 $252,335 -7.1% February $263,719 $231,327 -12.3% + 4.2% - 3.8% + 4.3% - 7.2% March $263,410 $253,372 -3.8% 2009 2010 2011 2009 2010 2011 12-Month Avg $255,438 $260,837 +2.1%Historical Average Sales Price$325,000$300,000$275,000$250,000$225,000$200,000 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 8
  9. 9. Percent of Original List Price ReceivedThe average percentage found when dividing a propertys sales price by the original list price.Sold properties only. Does not account for seller concessions.March Year To Date Month Prior Current +/– Year Year April 88.7% 91.0% +2.6% 89.6% 91.0% 89.1% 89.7% 90.4% 88.6% May 89.0% 91.2% +2.5% June 90.0% 92.2% +2.4% July 90.3% 91.0% +0.8% August 90.2% 90.0% -0.3% September 91.4% 90.1% -1.4% October 91.9% 89.7% -2.4% November 92.2% 89.6% -2.8% December 90.2% 89.2% -1.1% January 89.9% 87.9% -2.3% February 90.0% 88.5% -1.6% +1.5% -2.1% +0.8% -2.0% March 91.0% 89.1% -2.1% 2009 2010 2011 2009 2010 2011 12-Month Avg 90.5% 90.2% -0.4%Historical Percent of Original List Price Received100% 98% 96% 94% 92% 90% 88% 86% 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 9
  10. 10. Housing Affordability IndexThis index measures housing affordability for the region. An index of 120 would mean the median household income was 120% of whats necessaryto qualify for the median priced home under prevailing interest rates. The higher the number, the more affordable our housing is.March Year To Date Month Prior Current +/– Year Year April 136 139 +1.7% 147 149 May 130 134 +3.1% 134 135 135 135 June 125 137 +9.3% July 131 135 +2.8% August 132 133 +0.8% September 141 140 -0.6% October 144 137 -4.9% November 144 139 -3.5% December 127 146 +15.0% January 130 149 +14.4% February 138 154 +11.5% +1.2% +8.5% -0.5% +10.7% March 135 147 +8.5% 2009 2010 2011 2009 2010 2011 12-Month Avg 135 141 +4.9%Historical Housing Affordability Index160150140130120110100 90 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 10
  11. 11. Inventory of Homes for SaleThe number of properties available for sale in active status at the end of the month.March Month Prior Current +/– Year Year April 11,068 10,296 -7.0% 11,095 10,363 May 11,008 10,415 -5.4% June 10,815 10,350 -4.3% 8,663 July 10,630 10,198 -4.1% August 10,521 10,018 -4.8% September 10,374 9,763 -5.9% October 10,281 9,524 -7.4% November 10,082 9,215 -8.6% December 9,638 8,592 -10.9% January 9,777 8,648 -11.5% February 10,072 8,632 -14.3% -6.6% -16.4% March 10,363 8,663 -16.4% 2009 2010 2011 12-Month Avg 10,386 9,526 -8.4%Historical Inventory of Homes for Sale12,00011,00010,000 9,000 8,000 7,000 6,000 5,000 4,000 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 11
  12. 12. Months Supply of InventoryCompares the number of active listings available to the average monthly pending sales for the last 12 months.March Month Prior Current +/– Year Year April 16.7 13.3 -20.5% 16.4 May 16.9 12.8 -24.0% 13.9 June 16.7 13.0 -22.2% July 16.5 13.0 -21.5% 11.3 August 16.2 12.9 -20.5% September 15.7 12.6 -19.5% October 15.3 12.4 -18.8% November 14.4 12.3 -14.9% December 13.6 11.4 -16.5% January 13.7 11.4 -16.4% February 13.8 11.4 -17.3% -15.2% -18.5% March 13.9 11.3 -18.5% 2009 2010 2011 12-Month Avg 15.3 12.3 -19.4%Historical Months Supply of Inventory1816141210 8 6 4 2 1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 12

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