The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your Charleston SC Real Estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Charleston SC Real Estate Blog: Charleston SC December 2011 Monthly Housing Indicators
There's no way to be certain what 2012 will bring. However, a few things do seem clear enough to make some assessments. First, 2011 was not the recovery year it was expected to be. It was yet another “transition year” for most. Second, multi-decade low mortgage rates and suppressed home prices coalesced to form an attractive purchase environment. And buyers did just what their name implies. This has driven down inventory levels in many locales, which—thirdly—nudged the market balance toward equilibrium. Here's how the final month of 2011 concluded the year.
New Listings in the Charleston region decreased 16.4 percent to 812. Pending Sales were up 37.3 percent to 710. Inventory levels shrank 20.6 percent to 6,904 units, extending the signature trend of 2011.
Home prices finished the year on an up note. The Median Sales Price increased 3.7 percent to $186,664. Days on Market increased 12.8 percent to 123 days. Absorption rates improved as Months Supply of Inventory was down 26.0 percent to 8.6 months.
Ultimately, the upcoming spring market should be a major tell about the future direction of housing. Sellers are seeing multiple-offer situations; buyers are seeing sub-4.0 percent loans; supply-demand trends are more balanced. When it gets down to it, that's a stable foundation and a far cry from 2009. While the fundamentals are better, the foreclosure situation and political unknowns remain wildcards. For now, enjoy the fresh canvas.
See additional December 2011 housing market details here.
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Sincerely,
"Carolina Joe" Idleman
http://www.charlestonscrealestateforsale.com
