The Charleston Trident Association of Realtors® recently released its annual report on the Charleston area housing market. This report contains a plethora of information about the local real estate market.
“It was a banner year for residential real estate across America,” states CTAR. “Nearly every metropolitan housing market embarked upon or continued along the road to recovery. Local and regional markets once burdened by excessive supply levels and heavy foreclosure loads have given way to multiple-offer situations, homes selling in record-low market times, and prices rallying to multi-year highs.”
The numbers don’t lie. Charleston real estate has made a great recovery over the past two years. Closed sales were up 21.1% in 2013 from 2012, and pending sales were up 21.5%. There was a 13.9% rise in new listings, and at the end of the year, inventory of homes for sale was down 12.3%. In addition, sales prices were up and average number of days on the market were down. These are all definite signs of a recovering market.
For more information on CTAR’s 2013 report, check out our infographic below.