Each month I plan to post a Charleston Real Estate Market Update with some few important nuggets of information. I want to make sure you are aware at all times of how real estate is performing here and provide tips for sellers and buyers.

So, here’s what the numbers looked like from our July reports…

• Residential sales over last year are up 25% and the Median Sales Price is up 8%.
• The average price per square foot is also up 8%.
• New listings taken this year are up 16% over 2012.
• My company – Carolina One – continues to be the market leader in closed sales with a 29% market share.

I have figures broken-down by Charleston, Dorchester or Berkeley counties as well as by MLS area (Mount Pleasant, Isle of Palms, James Island, etc). Please let me know if you’d like to review the numbers with me so we can assess whether it’s a good a time for you to buy or sell.

Some interesting percentage changes to share:

• MLS Area 78 – Wando/Cainhoy – had the highest % change with homes closed from 2012-2013 with a 68% increase.
• Mount Pleasant south of IOP connector (MLS 42) has seen the most homes closed with a total of 690 so far this year.
• Awendaw/McClellanville (MLS 46-67) had a 148% increase in median sales price from $179K in 2012 to $445K in 2013! This bodes well for sellers in that area.
• If you live in Mount Pleasant – north or south of the IOP – prices haven’t changed too much with only a 1% and 7% increase in median sales prices. This is great for homeowners looking to sell in Mt. Pleasant and purchase a new home before prices rise. I call this is an opportunity market; it’s time to take advantage.

I’d love to help you move into a great home and new investment! Let me know if you’re considering a change – whether buying, selling or investing.

*All figures provided by Carolina One and is a representation of data supplied by the Charleston Trident Multiple Listing Service.