This August, 2,056 homes sold in the Charleston Trident area at a median price of $315,000. Year-to-date, 13,661 homes have sold at a median price of $295,000, both up 6% from 2019.
“This summer has been record-breaking in terms of sales and price increases—a trend we fully expect to continue into the fall” said 2020 CTAR President. Bobette Fisher. “Continued low mortgage rates have helped thousands of homeowners in our region make a smart investment and a crucial step in building long-term wealth and stability,” said Fisher. “However, as inventory continues to decline, competition for our region’s homes has increased significantly, which is one of the factors driving our prices up” she said. “Two months of inventory signals an extreme seller’s market—six months is a balanced market. This limitation has essentially capped the number of homes that can be sold; if more homes were available, they would most certainly sell” said Fisher.
Breakdown By County
Berkeley County: 516 homes sold at a median price of $255,820
Charleston County: 1,063 homes sold at a median price of $351,670
Colleton County: 38 homes sold at a median price of $227,500
Dorchester County: 361 homes sold at a median price of $232,327