Great news came this week for local Charleston real estate. According to the Charleston Trident Association of Realtors, home sales had their strongest January since 2008. The local housing report found that 634 homes sold at a median price of $181.750 last month. Sales volume is also up sixteen percent with the median price up three percent compared to 2012. This is a nice reminder that 2013 has been predicted to be a turn-around year for the housing market. Read the full article here.
And it’s not just Charleston. Another article released by the Wall Street Journal this week noted that home prices are rising in more markets nationwide. The National Association of Realtors reported Monday that the U.S. median home price rose 10% to $178,900 between 2011-2012, which happens to be the largest yearly gain since the end of 2005. 152 metro areas were examined, and almost all of them posted yearly gains. Things are definitely looking up.
Charleston was included in these statistics, North Charleston specifically, and showed a 4.2% increase.