Here’s a glimpse into the Charleston real estate market year to date. These MLS stats compare the market this year to 2015, and numbers are pulled as of June 30 for all areas in the MLS:
- Closed home sales have increased by 8.7%.
- Median sales price is up by 5.73% (was $225,000 in 2015 and is now $237,900). Keep in mind that this is for the entire MLS, so individual areas will vary.
- New listings have gone up 4.4%. This means there are actually more listings to choose from now compared to a year ago even though most areas of Charleston are seeing a shortage of homes for sale compared to the demand.
- The absorption rate for the entire MLS has decreased by 19.96%. This absorption rate shows us how long the current inventory would last if no