Charleston, SC Real Estate Market Update December 6th, 2010

Dec 08th 2010

Posted By: Brian Beatty @ 2:02pm In: Market Update

We've seen a slowdown in showings and new sales as expected for the Holidays. Here are the latest market-wide MLS numbers:

8848 Active Properties in MLS.
1799 Pending Properties in MLS.
594 properties closed in November (estimate this number will end at 615 when all data is in)

The latest data from the National Home Reports shows that prices fell in September and October, but new contracts (Pending Index) picked up in October. This Pending Index, however, has fallen in November, and we believe the same will occur in December.

Sales will remain stable throughout 2010, between 600 units and 800 units on average. Inventory will climb by 10-12% between January and March.

By the Fourth quarter of 2010, I believe prices will stop declining in most markets and price ranges, leading to a much-anticipated stabilization.

Want information on your area or your price range? Email me! LowCountryHomeSales@gmail.com.

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