Homes For Sale In Charleston National: Sales

Today I am looking at the September numbers for homes for sale in Charleston National. First, closed sales. In September, there were 7 closed sales, up from 5 in August. The peak (so far) this year was April, with 11 closed sales.

By looking at Pending Sales we can often predict future sales, and those numbers don’t look good. There were 8 homes for sale in Charleston National that went under contract in August, but only 1 for September. However, there were 21 homes active in August, and in September there were 22, so there is a chance that the sales numbers hold steady.

Price Per Square Foot dropped, from $175/sq ft to $160/sq ft. It peaked in May this year, at $193/sq ft. As you can see in the graph, it has dipped a couple times so far in 2014.

The Average Days On the Market (DOM) is on the increase, up to 150. That is a sharp increase from August, which was only 19 days. That was the shortest amount of DOM for all of 2014. Charleston National has seen some high DOM numbers this year, higher than the overall average for Mt Pleasant. For September, the average DOM for Mt Pleasant was 56 days.

Homes For Sale In Charleston National: Prices

Average sales price for September was $346,626, down from August which was $442,300. The peak was May which was $426,976. Months Supply rose from 3.5 in August to 4.1 in September. The low for 2014 was in February, which saw a 2.6 month supply of inventory.

I also looked at new listings, and in September there were 5 new listings, down from 8 in August.

Homes For Sale In Charleston National: What The Numbers Mean

If you are thinking of buying homes for sale in Charleston National, then according to the numbers, it is a good time to buy. There is a good selection of available inventory, and prices are down.

Conversely, if you are thinking of selling, now may not be the best time. In a couple weeks we will have October numbers to crunch, so it will be worth watching if Charleston National rebounds. Of course, the numbers are still not too bad, they are right around where they have peaked over the last year and a half. The key is keeping the proper perspective.

Stay tuned as I will revisit these numbers in a few weeks. In the meantime, if you know anyone looking to buy or sell homes for sale in Charleston National (or anywhere else in Charleston SC), bee sure to send them to my website.