In today’s battered U.S. real estate market, positive signs are always welcome, and the Charleston Post and Courier delivered some upbeat news for the Lowcountry today when they reported that “the Charleston region’s residential real estate market showed continuing improvement in November, as the number of homes for sale declined again and sales picked up, according to the Charleston Trident Association of Realtors.” In fact, greater Charleston real estate has been the strongest in the state this year, and year-to-date sales of 8,453 in the area were up 5 percent over 2010.

And while the year-to-date area median price, $180,796, represents a 3 percent downturn over 2010, preliminary figures show that last month 648 homes changed hands, up about 10 percent compared to November 2010, with a median price of $191,500—a 6 percent increase over the year’s average.

What’s more, 7,258 homes were listed for sale in November, marking a five-year low. For comparison, in the spring of 2008, there were 11,879 homes for sale in the tri-county area.

The Charleston Trident Association of Realtors recommends cautious optimism, pointing out that “the continued decline of inventory is an important factor in maintaining the stability and health of our local market, as we anticipate the addition of bank-owned inventory in the early stages of 2012,” according to group President Rob Woodul.

One thing that is certain is, as the Post and Courier asserts, that “for real estate buyers, the good news is that pricing remains soft—the median sale price declined 3% this year through November—and mortgage interest rates are hovering around generational lows.” Welcome news indeed for those looking to buy Charleston-area real estate—for which there may be no better time.

See All Charleston Real Estate Stories

The Finest Real Estate
in Town and County

Our Latest
From Instagram