September 2011 Indicators: Charleston Trident Association of Realtors

People talk about the national housing market like it’s some static thing, like a
toaster. The thing is, there is no national housing market. Just like there is no
national weather forecast. That doesn’t mean national averages don’t have their
place, but you don’t grab a raincoat and an umbrella in Miami based on the
weather in Seattle. Like the weather, all real estate is local. As we embark on the
2011 let’s take a look at our local forecast,

New Listings in the Charleston region decreased 16.1 percent to 1,176. Pending
Sales were up 13.0 percent to 816. Inventory levels shrank 18.9 percent to
7,792 units, a positive supply-side trend that should bring additional stability.

Prices were fairly stable. The Median Sales Price decreased 1.9 percent to
$183,675. Days on Market increased 5.7 percent to 104 days. Absorption rates
improved as Months Supply of Inventory was down 19.8 percent to 10.0
months.

Read more: Download the September 2011 Indicators (PDF)