charleston real estate sales
DESCRIPTION
Local sales date for Charleston, SCTRANSCRIPT
Monthly Indicators
March 2011 Quick Facts
23456789
101112
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | 1
A RESEARCH TOOL PROVIDED BY THE CHARLESTON TRIDENT ASSOCIATION OF REALTORS®
Months Supply of Inventory
Inventory of Homes for Sale
Housing Affordability Index
Average Sales Price
Median Sales Price
Days On Market Until Sale
Closed Sales
Pending Sales
New Listings
Market Overview
- 3.6%
Change inMedian Sales Price
Click on desired metric to jump to that page.
This month's numbers are stuck in the shadow of the spring 2010 incentive market. A number of factors hinder a full-scale housing recovery, yet there are positives that suggest improving consumer confidence. Slowing unemployment claims, strong corporate balance sheets and 13 months of private job growth are cause for long-dormant optimism. Let's see if our local glass is half empty or half full.
New Listings in the Charleston region decreased 20.6 percent from last March to 1,739 new homes. Pending Sales decreased 7.5 percent to land at 980 contracts written. As a result, inventory levels decreased 16.4 percent from last year to reach 8,663 active listings.
Prices lost some ground – the March Median Sales Price of $177,737 decreased 3.6 percent. Negotiations moved toward buyers as Percent of Original List Price Received at Sale decreased 2.1 percent to 89.1 percent. The market moved toward balance as Months Supply of Inventory decreased to 11.3 months.
The national interest rate is 5.11 percent on a 30-year fixed; the national unemployment rate dropped to 8.8 percent in March. Several important changes to the mortgage industry are on the horizon. Ensuring access to adequate mortgage capital for qualified buyers is key to housing recovery. This will require substantial reforms to Fannie and Freddie.
- 16.4%
Change inInventory
+ 8.3%
Change inClosed Sales
Percent of Original List Price Received
Market Overview
Key Metrics Historical Sparklines 3-2010 3-2011 + / – YTD 2010 YTD 2011 + / –
Key market metrics for the current month and year-to-date figures.
135
--
-- --
8,663
11.3
+ 11.2% 115 116
New Listings
Pending Sales
Closed Sales
Days on Market Until Sale
Median Sales Price
Average Sales Price
--
--
+ 8.5%
- 16.4%
- 18.5%
+ 10.7%
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 2
- 3.6% $185,000 $173,995
- 2.0%- 2.1% 90.4% 88.6%
Months Supplyof Homes for Sale
$253,372 - 3.8%
89.1%
Housing Affordability Index
Inventory of Homes for Sale
13.9
147
- 18.0%
1,059 980 - 7.5% 2,512 2,514 + 0.1%
4,7152,190 1,739 - 20.6% 5,752
Percent of OriginalList Price Received
$263,410
91.0%
1,910 + 8.1%
- 7.2%
758 821
+ 0.3%
- 5.9%
+ 8.3% 1,767
135
10,363
104 116
149
--
$265,608 $246,446
$184,414 $177,737
3-2008 3-2009 3-2010 3-2011
3-2008 3-2009 3-2010 3-2011
3-2008 3-2009 3-2010 3-2011
3-2008 3-2009 3-2010 3-2011
3-2008 3-2009 3-2010 3-2011
3-2008 3-2009 3-2010 3-2011
3-2008 3-2009 3-2010 3-2011
3-2008 3-2009 3-2010 3-2011
3-2008 3-2009 3-2010 3-2011
3-2008 3-2009 3-2010 3-2011
New Listings
MonthPrior Year
Current Year
+ / –
April 1,695 1,932 +14.0%
May 1,710 1,670 -2.3%
June 1,652 1,716 +3.9%
July 1,639 1,558 -4.9%
August 1,626 1,666 +2.5%
September 1,619 1,399 -13.6%
October 1,605 1,238 -22.9%
November 1,217 1,101 -9.5%
December 1,133 961 -15.2%
January 1,808 1,514 -16.3%
February 1,754 1,462 -16.6%
March 2,190 1,739 -20.6%
12-Month Avg 1,637 1,496 -8.6%
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 3
A count of the properties that have been newly listed on the market in a given month.
1,877
2,190
1,739
2009 2010 2011
March
500
1,000
1,500
2,000
2,500
3,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011
Historical New Listing Activity
5,3155,752
4,715
2009 2010 2011
Year To Date
-18.0%+16.7% -20.6% +8.2%
Pending Sales
MonthPrior Year
Current Year
+ / –
April 781 1,213 +55.3%
May 848 667 -21.3%
June 808 699 -13.5%
July 846 740 -12.5%
August 825 744 -9.8%
September 775 732 -5.5%
October 820 612 -25.4%
November 578 642 +11.1%
December 514 533 +3.7%
January 706 709 +0.4%
February 747 825 +10.4%
March 1,059 980 -7.5%
12-Month Avg 776 758 -2.3%
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 4
A count of the properties that have offers accepted on them in a given month.
695
1,059980
2009 2010 2011
March
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011
Historical Pending Sales Activity
1,798
2,512 2,514
2009 2010 2011
Year To Date
+0.1%+52.4% -7.5% +39.7%
Closed Sales
MonthPrior Year
Current Year
+ / –
April 578 865 +49.7%
May 742 943 +27.1%
June 791 1,109 +40.2%
July 880 677 -23.1%
August 754 712 -5.6%
September 771 703 -8.8%
October 803 663 -17.4%
November 851 616 -27.6%
December 656 678 +3.4%
January 450 508 +12.9%
February 559 581 +3.9%
March 758 821 +8.3%
12-Month Avg 716 740 +5.2%
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 5
A count of the properties that have closed in a given month.
625
758821
2009 2010 2011
March
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011
Historical Closed Sales Activity
1,506
1,7671,910
2009 2010 2011
Year To Date
+8.1%+21.3% +8.3% +17.3%
Days on Market Until Sale
MonthPrior Year
Current Year
+ / –
April 119 111 -6.3%
May 114 109 -4.0%
June 112 96 -14.6%
July 119 107 -9.7%
August 115 105 -9.0%
September 105 99 -6.3%
October 102 99 -3.0%
November 97 103 +6.5%
December 117 110 -5.6%
January 128 116 -9.8%
February 120 115 -3.9%
March 104 116 +11.2%
12-Month Avg 112 107 -4.4%
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 6
The average number of days between when a property is first listed and when an offer is accepted. Sold properties only.
123
104116
2009 2010 2011
March
20
40
60
80
100
120
140
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011
Historical Days on Market Until Sale
115 115 116
2009 2010 2011
Year To Date
+0.3%-15.4% +11.2% -0.2%
Median Sales Price
MonthPrior Year
Current Year
+ / –
April $182,500 $178,950 -1.9%
May $185,000 $186,000 +0.5%
June $193,638 $186,827 -3.5%
July $185,000 $195,000 +5.4%
August $187,000 $199,990 +6.9%
September $176,026 $189,990 +7.9%
October $170,370 $194,995 +14.5%
November $174,000 $193,500 +11.2%
December $194,938 $180,000 -7.7%
January $193,000 $173,990 -9.8%
February $179,900 $166,500 -7.4%
March $184,414 $177,737 -3.6%
12-Month Avg $183,050 $185,000 +1.1%
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 7
The median sales price for all closed sales in a given month. Sold properties only. Does not account for seller concessions.
$184,990 $184,414 $177,737
2009 2010 2011
March
$160,000
$170,000
$180,000
$190,000
$200,000
$210,000
$220,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011
Historical Median Sales Price
$181,925 $185,000$173,995
2009 2010 2011
Year To Date
-5.9%-0.3% -3.6% +1.7%
Average Sales Price
MonthPrior Year
Current Year
+ / –
April $270,880 $253,030 -6.6%
May $257,561 $262,696 +2.0%
June $263,392 $254,601 -3.3%
July $258,672 $275,297 +6.4%
August $249,894 $295,771 +18.4%
September $234,350 $264,200 +12.7%
October $242,476 $263,727 +8.8%
November $224,112 $259,382 +15.7%
December $286,550 $262,802 -8.3%
January $271,665 $252,335 -7.1%
February $263,719 $231,327 -12.3%
March $263,410 $253,372 -3.8%
12-Month Avg $255,438 $260,837 +2.1%
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 8
The average sales price for all closed sales in a given month. Sold properties only. Does not account for seller concessions.
$252,688$263,410 $253,372
2009 2010 2011
March
$200,000
$225,000
$250,000
$275,000
$300,000
$325,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011
Historical Average Sales Price
$254,669$265,608
$246,446
2009 2010 2011
Year To Date
- 7.2%+ 4.2% - 3.8% + 4.3%
Percent of Original List Price Received
MonthPrior Year
Current Year
+ / –
April 88.7% 91.0% +2.6%
May 89.0% 91.2% +2.5%
June 90.0% 92.2% +2.4%
July 90.3% 91.0% +0.8%
August 90.2% 90.0% -0.3%
September 91.4% 90.1% -1.4%
October 91.9% 89.7% -2.4%
November 92.2% 89.6% -2.8%
December 90.2% 89.2% -1.1%
January 89.9% 87.9% -2.3%
February 90.0% 88.5% -1.6%
March 91.0% 89.1% -2.1%
12-Month Avg 90.5% 90.2% -0.4%
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 9
The average percentage found when dividing a property's sales price by the original list price. Sold properties only. Does not account for seller concessions.
89.6% 91.0% 89.1%
2009 2010 2011
March
86%
88%
90%
92%
94%
96%
98%
100%
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011
Historical Percent of Original List Price Received
89.7% 90.4% 88.6%
2009 2010 2011
Year To Date
-2.0%+1.5% -2.1% +0.8%
Housing Affordability Index
MonthPrior Year
Current Year
+ / –
April 136 139 +1.7%
May 130 134 +3.1%
June 125 137 +9.3%
July 131 135 +2.8%
August 132 133 +0.8%
September 141 140 -0.6%
October 144 137 -4.9%
November 144 139 -3.5%
December 127 146 +15.0%
January 130 149 +14.4%
February 138 154 +11.5%
March 135 147 +8.5%
12-Month Avg 135 141 +4.9%
This index measures housing affordability for the region. An index of 120 would mean the median household income was 120% of what's necessary to qualify for the median priced home under prevailing interest rates. The higher the number, the more affordable our housing is.
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 10
134 135147
2009 2010 2011
March
90
100
110
120
130
140
150
160
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011
Historical Housing Affordability Index
135 135
149
2009 2010 2011
Year To Date
+10.7%+1.2% +8.5% -0.5%
Inventory of Homes for Sale
MonthPrior Year
Current Year
+ / –
April 11,068 10,296 -7.0%
May 11,008 10,415 -5.4%
June 10,815 10,350 -4.3%
July 10,630 10,198 -4.1%
August 10,521 10,018 -4.8%
September 10,374 9,763 -5.9%
October 10,281 9,524 -7.4%
November 10,082 9,215 -8.6%
December 9,638 8,592 -10.9%
January 9,777 8,648 -11.5%
February 10,072 8,632 -14.3%
March 10,363 8,663 -16.4%
12-Month Avg 10,386 9,526 -8.4%
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 11
The number of properties available for sale in active status at the end of the month.
11,09510,363
8,663
2009 2010 2011
March
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011
Historical Inventory of Homes for Sale
-16.4%-6.6%
Months Supply of Inventory
MonthPrior Year
Current Year
+ / –
April 16.7 13.3 -20.5%
May 16.9 12.8 -24.0%
June 16.7 13.0 -22.2%
July 16.5 13.0 -21.5%
August 16.2 12.9 -20.5%
September 15.7 12.6 -19.5%
October 15.3 12.4 -18.8%
November 14.4 12.3 -14.9%
December 13.6 11.4 -16.5%
January 13.7 11.4 -16.4%
February 13.8 11.4 -17.3%
March 13.9 11.3 -18.5%
12-Month Avg 15.3 12.3 -19.4%
All data from the Charleston Trident Association of REALTORS®. Powered by 10K Research and Marketing. Data deemed reliable but not guaranteed. Consult your agent for market specifics. | Click for Cover Page | 12
Compares the number of active listings available to the average monthly pending sales for the last 12 months.
16.4
13.9
11.3
2009 2010 2011
March
2
4
6
8
10
12
14
16
18
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011
Historical Months Supply of Inventory
-18.5%-15.2%