Buying activity is really starting to ramp up throughout the Charleston area. All of the islands had a great week, especially James and Johns Island. West Ashley and Mt P had an outstanding week. The Summerville and Goose Creek/ Moncks Corner areas are booming. And the downtown areas (inside and outside of Crosstown) were very busy again this week too. Median LIST price for all the single family homes going under contract was about as high as I’ve ever seen it at $324k, $160/sqft. The condo/ townhome market had an incredible week as well. Just great all over really. On the non-traditional sales chart, we still see over 33% of what’s under contract is new construction. Several areas are above 50% including Johns Island at 66%. Note that in 2018, short sales dropped 31% from 2017 and foreclosures dropped 20%. Both of them together combined for less than 2% of 2018 sales. New construction represented 22% of 2018 sales.

Here are the numbers…

Analysis of residential properties going under contract (contingent) during week of 2/15/19-2/21/19

  • 363 residential properties under contract past wk. Starting to kick into high gear.
  • 283single family homes under contract past wk. Median LIST price $324k,$160/sqft.  5 under $100k. 18 over $1M, 4 of those over $2M.Median 25 CDOM. Median Yr Blt 1998
  • 4(1%) of 283 single family homes under contract past wk BANK OWNED FORECLOSURES or SHORT SALES.  Another 10%new construction. 0 of 1 short sales in areas 31/32, 61-76
  • 54 island single family homes under contract past wk. James-19,Johns-13,Kiawah-3($635k,$1.6M,$2.25M),Edisto-4($309k,$490k,$550k,$600k),Seabrook-4($335k,$383k,$999k,$1.55M),Sullivan-1($1.15M),IOP-5($599k,$768k,$1.2M,$1.7M,$3M),Dan-5($625k,$650k,$1.2M,$1.4M,$1.7M)
  • 19James Island single family homes under contract past wk LISTED from $210k-$900k. 4 over $400k. 3 under $165/sqft. Median $345k,$205/sqft. 1 new construction. 3 Riverland Terrace.
  • 13Johns Island single family homes under contract past wk LISTED from $155k-$2.75M. 1 under $225k. 1 over $650k. Median $315k,$173/sqft. 3(23%) new construction.
  • 38West Ashley single family homes under contract past wk LISTED from $200k-$775k. 6 over $450k. Median $340k,$172/sqft. 1 new construction. 4 Carolina Bay
  • 22North Chas single family homes under contract past wk LISTED from $77k-$420k. 5 under $150k. 3 over $250k. Median $185k,$132/sqft. 2 new construction. 4 Park Circle.
  • 37 Mt Pleasant single family homes under contract past wk LISTED from $325k-$1.3M. 3 over $1M. Median $576k,$229/sqft.3 under $170/sqft. 3 new construction. 4 Belle Hall, 4 Dunes West.
  • 13 PeninsulaCharleston single family homes under contract past wk LISTED from $250k-$3.8M. 1 under $425k. 3 over $1M. Median $625k,$309/sqft. 8 South of crosstown.
  • 52 Summerville/Ladson single family homes under contract past wk LISTED from $98k-$700k. 9 under $175k. 5 over $400k.  Median $240k,$131/sqft.7 Wescott.2 BANK OWNED FORECLOSURES or SHORT SALES. 6(12%) new contruction.
  • 64 Hanahan/Gs Creek/Moncks Cnr single family homes under contract past week LISTED from $50k-$621k. 7 Cane Bay, 7 Crowfield. Median $237k,$130/sqft. 7 under $150k. 9 over $350k. 0 BANK OWNED FORECLOSURES or SHORT SALES. 9(14%) new construc
  • 78condo/townhomes under contract past wk. 6 LISTED under $100k. 37 from $100k-$199k. 16 from $200k-$299k. 14 from $300k-$499k. 5 from $600k-$1.1M. 2 BANK OWNED FORECLOSURES or SHORT SALES. 6 new construction


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.