According to the South Carolina REALTORS real estate market data, and differing from what all of the media has been saying, 2007 was one of the best years on record for South Carolina home sales.  The state had over 61,000 sales last year, which represents year-end totals of a 55% increase in sales and a 32% increase in median price since 2000!

So who says that the sky is falling!?

Now the total number of homes on the market is consistently higher than it has been in recent years, with average prices holding steady and even growing in some areas of our state.

A total of 61,678 homes were sold in South Carolina last year, while the median price remained at $159,000.  As far as Charleston goes, this is lower than our median home price, which stands around $245,000.  So values in Charleston are considerably better than our state average.

From what I've read, South Carolina is the tenth fastest growing state in the country.  The state has grown by 10% over the last seven years, bringing our population to an estimated 4.4 million (according to the latest census estimates).

So what do I think is the largest challenge in our market?  I feel that the media overall has consumer confidence pretty low when it comes to their largest investment.  The media is only going to report on topics that bring them the highest ratings.  Telling you that the market is okay, or even doing well, is not going to help them, so they aren't going to do it.

If you have a question about local real estate, then please ask an expert in that field, like a local real estate agent or REALTOR.  And for the Charleston area, we are always available to help.