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Monday, November 25, 2024

Charleston home prices rise in the first quarter of 2017

Realestate3

The median sale price of a home sold in the first quarter of 2017 in Charleston rose by $32,000 while total sales decreased by 6.6%, according to BlockShopper.com.

From January through March of 2017, there were 579 homes sold, with a median sale price of $277,000 - a 13.1% increase over the $245,000 median sale price for the same period of the previous year. There were 620 homes sold in Charleston in the first quarter of 2016.

The median sales tax in Charleston for the most recent year with available data, 2015, was $1,430, approximately 0.5% of the median home sale price for the first quarter of 2017.

The following table compares Charleston to other Charleston County cities with similar median sales prices in the first quarter of 2017:

CityJan. - Mar. 2017 Home SalesJan. - Mar. 2016 Home Sales% change (Total Home Sales)Jan. - Mar. 2017 Median Sales PriceJan. - Mar. 2016 Median Sales Price% change (Median Sales Price)
Meggett440%$365,000$368,000-0.8%
Awendaw21100%$347,000$120,000189.2%
Laurel Park15-80%$330,000$315,0004.8%
North Pine Point15-80%$318,000$245,00029.8%
Chesterfield20-$287,500$0-
Charleston579620-6.6%$277,000$245,00013.1%
Hollywood1018-44.4%$275,950$241,95014.1%
Riverland Terrace410-60%$265,750$266,250-0.2%
Edisto Island47-42.9%$265,681$305,000-12.9%
James Island6377-18.2%$265,000$245,0008.2%
McClellanville770%$265,000$134,50097%

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