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Realtors group says October flooding affected home showings, closings

Real Estate - Residential
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By Ashley Heffernan
aheffernan@scbiznews.com
Published Nov. 12, 2015

In October, 219 fewer homes were sold in the Lowcountry than the previous month and the median price of homes dropped by $19,000, according to the Charleston Trident Association of Realtors.

“As we expected, October sales data was a bit slow, as many parts of our region were affected by the historic flooding at the beginning of the month, which impacted showings and some closings,” President Matt DeAntonio said in a news release from the association.

The median price for the region — which includes Berkeley, Charleston, Dorchester and Orangeburg counties, as well as some outlying areas — was $225,000 in October, and 1,248 homes were sold in the month, the association said. Those figures are both up from October 2014, when 1,226 homes were sold at a median price of $215,000.

Since the beginning of 2015, sales volume is up 14% from where it was in 2014, and the median price has increased 5%, the association said.

“There’s no question our market is performing very well,” DeAntonio said in the release. “But we are monitoring the year-to-date median price data. Median price has steadily increased throughout the year, now at 5%, which is on the higher end of sustainable.”

About 5,950 homes were listed as active for sale on the Charleston Trident Multiple Listing Service, the association said.

In Berkeley, Charleston and Dorchester counties, 1,231 homes were sold at a median price of $237,000 in October, the association said.

Berkeley County

In October, 295 homes were sold at a median price of $208,000, the association said. The most active spot in the county was the area near Summerville bordered by Jedburg Road, U.S. Highway 17A and College Park Road, where 78 homes were sold at a median price of $214,522.

Charleston County

There were 645 homes sold at a median price of $284,000 last month. Northern Mount Pleasant, with 116 homes sold at a median price of $385,155, was the most active area of the county, followed by the North Charleston and Summerville areas outside Interstate 526, where 94 homes sold at a median price of $158,500, the association said.

Dorchester County

The Summerville and Ridgeville areas were the most active spots last month, with 120 homes sold at a median price of $211,250. Throughout the county, 238 homes sold at a median price of $196,245, according to the association.

Reach staff writer Ashley Heffernan at 843-849-3144 or @AshleyBHeff on Twitter.

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