Charleston-area home sales up 14% through November

CHARLESTON, SC (WCSC) - A Lowcountry realtors' association says through November 2012, home sales in the Charleston area are up 14% over last year.

According to preliminary data released today by the Charleston Trident Association of Realtors (CTAR), 845 homes sold at a median price of $192,500 in November. Sales volume grew by nearly 200 sales this November, when compared to November 2011.

Year-to-date, 9,662 homes have sold at a median price of $190,081. These figures, which represent all homes sold through the Charleston Trident Multiple Listing Service (CTMLS), show 14% growth in sales volume and a 5.6% increase in median price for the region over last year at this time, when 8,493 homes sold at a median price of $180,000.

Charleston County has led the region in activity, with sales growth of 20.5%, year-to-date. In Charleston County, 5,464 homes have sold at a median price of $225,000 thus far in 2012. "In 2012, Charleston County alone will likely close out the year close to 6,000 sales. When you look at data from 2009 you'll see that regionally, we sold 8,300 homes that year. It clearly shows how much consumer confidence in our market has improved in the last 36 months" said Owen Tyler, 2013 CTAR president.

"2012 has been the turning point for the Charleston region—sales have grown at a sustainable, healthy pace, inventory has declined significantly throughout the year and we expect this consistent activity to continue into 2013" said Tyler. "This fall has been noticeably busier than years past—the market is seeing a great deal of activity from investors, as well as from traditional buyers who were waiting for security to return to the market" Tyler continued.