Statistics are in and 2016 was quite a year for our overall market, posting over 17,000 sales – the 2nd highest number ever. Transactions were up 10% over 2015, with a median sale price increase of 4.3% overall. This is a strong but still sustainable year over year increase in price, with price per square foot up in nearly every area we serve.
With number of listings at an all time low, the overall area is showing 3 months of inventory. 6 months of inventory is considered a balanced market, so as you can see we are squarely in a sellers market for most areas. If you are thinking of making a move, 2017 may be the year to consider listing your home.
Below is a link to our Year In Review E-Book with analysis on the greater Charleston market – give us a call today to see how our intimate knowledge of the market can benefit you!
About Daniel Ravenel Sotheby's International Realty
For more than 30 years, Daniel Ravenel Sotheby’s International Realty has been marketing, representing, and selling luxury homes in Charleston, South Carolina and the surrounding areas. We specialize in luxury homes both on and off the downtown peninsula. From historic pre-Revolutionary mansions, to well located urban pied-a-terres, to stunning beachfront retreats, we specialize in finding the lifestyle that is right for every client. Since 1983, we have been able to oversee nearly one billion dollars in real estate transactions, all without litigation. Additionally, because we are a locally owned company, all of our agents are either native to Charleston or a well-established resident of the Charleston area—and it is for this reason that we are completely in tune with every subtle aspect of the South Carolina Lowcountry.