Median price of Lowcountry homes up $6,000

By Ashley Barker
abarker@scbiznews.com
Published June 12, 2014

About 1,300 homes were sold last month in the Charleston region at a median price of $218,000, according to preliminary data released by the Charleston Trident Association of Realtors.

The number of homes sold increased by 17 when compared with May 2013, and the median price of homes went up $6,000.

Seventeen more homes were sold in May compared with the same month in 2013, and the median price went up $6,000. (Photo/Shutterstock/Andy Dean Photography)

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The association said around 5,900 homes were listed as actively for sale in the Charleston Trident Multiple Listing Service, which is a slight decrease from the previous month.

“With mortgage rates continuing to drop and sales prices leveling off, buyers may begin to see some relief in the market,” Corwyn Melette, president of the Realtors association, said in a statement. “As predicted by industry experts, the pace has slowed, but sales are still steady as we move through the summer season.”

In Berkeley County, 305 homes were sold at a median price of $190,000 last month, the association said. The northern area of the county — bordered by Jedburg Road, U.S. Highway 17A and College Park Road — was the most active spot, with 70 sales at a median price of $191,920.

A total of 709 homes were sold at a median price of $282,290 in Charleston County in May. Mount Pleasant was the most active area, with 213 homes sold at a median price of $356,950, according to the association. West Ashley outside of Interstate 526 had 91 sales at a median price of $219,000, while 80 homes were sold on James Island at a median price of $292,500.

Last month in Dorchester County, 227 homes were sold at a median price of $178,000, the association said. Summerville and Ridgeville were the most active spots, with 103 homes sold at a median price of $196,000.

The association adjusted its April figures to show that 1,157 homes were sold that month at a median price of $215,000.

Reach staff writer Ashley Barker at 843-849-3144 or @AshleyNBarker on Twitter.

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