Category Archives: Market Conditions

The William Means Report – August 2011

August was another slow month for real estate transactions in Charleston.  However, the total number of sales increased in most areas.  Despite this positive increase, nearly all areas saw a drop in average list price and average sale price.  Mount Pleasant (inside the IOP Connector) showed signs of improvement against July with median prices increasing [...]

Buying is cheaper than renting in most cities, reports CNN Money

In the midst of the housing crash demand for rental properties rose significantly, and now according to CNNmoney.com renting is more expensive than buying in 74% of the country’s 50 largest cities.  Across the nation low housing costs and very low interest rates have played a major role in tipping the scale towards buying, however in a few [...]

July home sales in Charleston increase 29% from last year

Compared to July 2010, home sales in Charleston jumped 29% this July.  A total of 829 homes sold last month, versus the 643 in July 2010.  However, the median price fell about 8%, from $196,573 in 2010 to $180,000 in 2011 according to the Charleston Trident Realtor Association. Rob Woodul, president of the Realtors association, [...]

The William Means Report – July 2011

In general, July sales were up from the previous year, however, the average sales prices were down.  July is a notoriously slower month in real estate sales and that trend continued this year.   William Means had a successful July with sales scattered throughout Charleston.  In addition to sales on the peninsula and Mount Pleasant, William [...]

Foreclosures down across most of South Carolina

South Carolina saw significant declines in foreclosure rates according to RealtyTrac’s midyear market report.  All but two of the major metropolitan areas in South Carolina had lower foreclosure rates in the first six months of 2011 than in the same period of 2010.  Charleston still had the highest rates of foreclosures in the state, however [...]

The William Means Report – June 2011

All areas of sales showed a positive drop in inventory in June versus the previous year and William Means had a significant month of June with very significant sales. Tri-County over $500,000 The Tri-County had a decrease in overall sales versus the previous year.  However, the homes sold had nearly a 22% increase in the [...]

Area Homes Sales Show Improvement

According to the Charleston Trident Association of Realtors, sales volume grew by 4% to 804 homes sold in May and the median price increased by 3% to $179,945 compared to April.  That marks three consecutive months of increased home prices in the area, though numbers continue to remain lower year-over-year. See year-over-year comparison in the [...]

The William Means Report – May 2011

Tri-County over $500,000 The Tri-County had a decrease in nearly all categories for residential homes sales over $500,000 from May of the previous year.     Downtown – Inside of Crosstown     Downtown – South of Broad While the number of homes sold remained consistent South of Broad the average sale price had a [...]

The William Means Report – April 2011

Tri-County over $500,000 Homes over $500,000 sold in the Tri-County had a decrease in the amount of sales from April  2010.  However, the homes sold had increase in the average and median sale prices.     Downtown – Inside Crosstown     Downtown – South of Broad Homes in this area saw a significant reduction [...]

Why 2011 May Be the End of the Housing Crash

Simon Constable of the Wall Street Journal reviews why he and other experts believe this year may be the beginning of better times in the housing market.