Charlesto

Real Estate Market Update 2015 Year in Review

Global Economy

State & Local

Economies
th

Oil prices

6 year of SC expansion

China

Employment growth,
Volvo!

Global growth
Fed/Interest Rates

Migration Patterns
SC 4th in the nation

201
5

35 (average) new
residents in
Charleston every day
Charleston 2nd best
city in the world, best

Consumer
spending
SC Flood

Consumer
Confidence

SC 4.4% increase in
personal spending

Stability and confidence

Discretionary income
among some groups

PROS
Informed
consumers
Clarity
Accuracy

CONS
Delays
Complexity /
Confusion
Costs / Compliance

CHARLESTON
REGION

CLOSED
SALES

16,202
residential units sold in 2015

14%
growth from 2014

87%
growth from 2010

CHARLESTON REGION

BERKELEY COUNTY

CLOSED SALES

CHARLESTON
COUNTY

DORCHESTER
COUNTY

new construction

new construction

new construction

median showings to

median showings to

median showings to

31%
9

18%
12

22%
11

CHARLESTON
REGION

MEDIAN
PRICE

$229k
2015 regional median price

6.5%
growth from 2014

21%
growth from 2010

CHARLESTON REGION

BERKELEY COUNTY

MEDIAN PRICE

CHARLESTON
COUNTY

DORCHESTER
COUNTY

$190k
6%

$200k
9%

countywide median price

countywide median price

countywide median price

growth from 2014

growth from 2014

growth from 2014

$294k
7%

CHARLESTON
REGION

INVENTORY

4,985

homes for sale at the end of

2015

19%
decline from 2014

35%
decline from 2010

PROPERTY TYPE
PERFORMANCE
NEW
CONSTRUCTION
NEW CONSTRUCTION MARKET
CHARLESTON REGION

INVENTORY

SHARE

NEW CONSTRUCTION

3.7
months of
inventory

100.4
%
% of list price
received

PREVIOUSLY OWNED

3.4

95%

months of
inventory

% of list price
received

CHARLESTON
REGION

IN SUMMARY
Sustainability
Affordability
Inventory
Economic
development
Smart growth
and
development

16,20 $229k
2
6.5%
14%
residential units sold in
2015

2015 regional median

price

growth from 2014

growth from 2014

4,985

11

homes for sale at the end

of 2015

median number of
showings

19%

decline from 2014

62

average days on market

MONTHLY

STATISTICAL REPORTS

AVAILABLE AT

CHARLESTONREALTORS.COM/MARKETREPORTS