February sales figures – Charleston, SC
2009/03/10, 7:43 pm
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The weak housing market continued to depress sales last month, with 363 deals closing in February.

That number was down slightly from January’s 372 closings, according to monthly data released today by the Charleston Trident Association of Realtors.

The median sale price for the region rebounded slightly, climbing 4% from January’s low to reach $183,180.

The statistics continued to show a downward trend year over year as well. Last month saw 43% fewer sales than the 636 that closed in February 2008, and the region’s median sale price fell 8% from February of last year, when the average price was $200,000.

The number of potential buyers continued to rise and showed the fifth consecutive month of increased showings — a total of 18,212 for the month.

The Charleston Trident Multiple Listing Service currently lists 10,051 homes for sale.

Dorchester County

  • Closings showed the largest statistical gains in Dorchester County, with a 26% increase in sales over January’s levels and 87 closed transactions. 
  • The median sale price for the county also showed an increase, up 12% to $169,990.
  • The southern portion of the county (Ladson Road to Bacon’s Bridge/Hwy.165) supported the majority of the county’s increases, as sales in that area picked up significantly, and median price rose 18%, from $134,000 to $158,000.

Charleston County

  • As a whole, Charleston County showed sales down 11% and a 5% decline in median price from January, but several municipalities showed signs of promise.
  • North Charleston saw a 5% increase in median sale price.
  • Sales increased 6% in Mount Pleasant.
  • James Island and West Ashley markets remained stable for the month.

Berkeley County

  • Berkeley County saw minimal movement in the residential market for February.
  • Sales slowed 3%, with 93 closings.
  • Median price dipped less than 2%, settling at $162,400.
  • A significant increase in sales on Daniel Island likely helped stabilize the market; 13 homes sold on the island in February with a median sale price of $385,000, versus four sales in January.

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