Down in Charleston, we have been soaking up the sun and feeling blessed to experience multiple 70 degrees days near the end of January. There is no wonder that there has been a plethora of recent statistics showcasing Charleston and South Carolina’s rapid growth. According to the U.S. Census Bureau, there are roughly 48 residents moving to the Charleston region each day! We have researched to find the most valid statistics that are straightforward and verified to share with you.

Charleston, SC Population Growth & Demographics:

Charleston, SC Population
Source U.S. Census Bureau


On January 18th, the Charleston Trident Association of Realtors hosted their Annual Residential Market Update event to discuss trends within the real estate industry, as well as projections for the housing market during 2017. The event housed roughly 600 Realtors and business professionals in the Charleston area, while economists Stephen Slifer and Dr. Joey Von Nessen presented their predictions.

Van Nessen displayed graphs to prove how the Charleston region saw an 11.9% increase in MLS sales in the past year, and predicted it will continue increasing at approximately 8.1% for this year.


“Housing has been the overall leader in terms of industrial sectors in 2016,” Van Nessen said. “We expect it to continue to thrive in 2017.”



Residential real estate data by county for 2016

Location

Total closed sales in 2016

% change from 2015

% new construction
in 2016

Days on market

Median sales price in 2016

% change from 2015

Berkeley County

4,442

+14.3%

30.5%

52

$210,143

+4.6%

Charleston County

9,221

+7.3%

19.9%

59

$310,000

+5.8%

Dorchester County

3,386

+13.2%

20.1%

54

$200,000

+5.5%


Source: Charleston Trident Association of Realtors


The average number of days on the market has dropped to 58, and total closed sales have increased in all three counties in the past year. There are millions of statistics to prove the growth experienced in Charleston recently, which is more the reason to buy and sell your home with Charleston Property Group.


Find out what your home is worth in the Charleston area:

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This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.