New numbers show home sales and home prices are up in the Charleston area. In fact, home sales are up 18% from a year ago at this time. The growth in our housing market right now is considered to be healthy and manageable.
According to data released by the Charleston Trident Association, since January there have been 3,475 homes sold in the tri-county area of Charleston, Berkeley and Dorchester.
More than a thousand of those homes were sold in April. While sales have gone up in the tri-county, so has the median price for a home this year, it now falls at $191,275. This is the middle price between the low end and more expensive homes.
Here's the break down by county released by the Charleston Trident Association.
210 homes sold at a median price of $169,500 in Berkeley County last month. The area bordered by Jedburg Road, Highway 17A and College Park was again the most active, with 49 sales at a median price of $167,000.
587 home sales resulted in a median price of $239,000 in April in Charleston County. Of those, 171 sales were in Mount Pleasant and sold at a median price of $315,00. West Ashley (outside of I-526) was the next most active area, with 77 sales at a median price of $205,830.
196 homes sold at a median price of $167,357 in Dorchester County in April. The area of Summerville/Ridgeville was the most active area, with 87 sales at a median price of $173,000.
Realtors say this area has maintained the same amount of available homes for 6 months now. They say it's a good thing and as homes are bought, more are built, keeping up with supply and demand. There are some areas though where future buyers are having a tough time finding a home.
Owen Taylor, President of the Trident Association of Realtors said, "You may go to the Mount Pleasant area and have a low inventory than you would in another area of town. It just depends on where you're looking. Real estate is truly local down to the street level. We've come out of a really rough period for real estate and we're now moving forward and things look good. Interest rates are still low, financing is available for buyers and it's a good time."
Realtors are expecting a steady rise in home sales as we approach the busy summer season.