In the first half of 2010, the homebuyer tax credit was touted as life support for the national real estate market. Despite predictions for a post-tax credit fallout, the Charleston market maintained its footing and the region posted year-over-year increases with sales volume increasing 5% and prices up 3%.
2010 | 8,735 transactions at a median price of $187,500; 112 average days on market
2009 | 8,328 transactions at a median price of $181,505; 114 average days on market
Nationally, experts are calling for potential price declines through the second quarter of 2011, following a report from RealtyTrac stating that lenders seized more than 1 million homes in 2010 and that an estimated 5 million homeowners are at least 60 days behind on their mortgage payments, but not yet in foreclosure.
Inventory is slightly lower than it was a year ago, with 8,224 homes listed for sale in the Charleston Trident Multiple Listing Service (MLS) as of December 31, 2010.
See all the indicators: Download the December 2010 Monthly Indicators (PDF)
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