You may have noticed some “noise” lately about where the market is heading.
Some accounts are optimistic while others, well, aren’t. The good news is that
local data provides a more reliable tone than national sound bites can offer.
When it comes to hearing the market’s true message, it may not necessarily be
from the expected indicators, it may not be heard evenly across all segments
and it may bursts. Let’s listen.
Buyers in the Charleston region absorbed homes more quickly as Months
Supply of Inventory was down 10.0 percent to 11.7 months. New Listings
decreased 12.0 percent to 1,522. Pending Sales were up 47.8 percent to 1,039.
Inventory levels shrank 15.7 percent to 8,795 units, but even choosy buyers can
still find top-notch homes.
Prices showed signs of life. The Median Sales Price increased 6.0 percent to
$196,269. Days on Market increased 13.5 percent to 109 days. Affordability also
improved.
Read more: Download the June 2011 Indicators (PDF)
