In it’s annual report, The Charleston Trident Association of Realtors said,

During the first quarter of 2009, the Charleston market struggled to regain its footing after the tumultuous end of 2008. January started the year with the lowest sales the area has seen in more than eight years, and a median sale price of $176,750, comparable to end-year numbers in 2004.

However, throughout the year, sales increased steadily and median sale price rose at a slow, but healthy pace. By June, sales were back into the 700’s for the month and median sale price peaked at $193,000. July saw an annual sales high of 796. November saw an unprecedented 783 sales, an 80% increase from the same time, one year ago. This was the first time sales had shown an increase in November since 2007.

Going into the final month of 2009, the Charleston market continued to show signs of recovery. While year-to-date sales are approximately 11% less than 2008 levels and median sale prices are down about 9%, the consistent month-over-month gains we’ve seen in the final months of 2009 suggest a stabilizing market. The expansion and extension of the homebuyer tax credit should help the market continue to grow and recover into 2010.

*all data and information is current as of December 10, 2009

Source: The Charleston Trident Association of Realtors

Source: Charleston Trident Association of Realtors

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