What 5 Statistics Define the Charleston Real Estate Market?

How has the Charleston real estate market improved over the last year? Here’s what the numbers tell us.

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I just got a report with all the latest statistics from the Charleston real estate market and I wanted to share some of the most important numbers with you. These five statistics paint a promising picture of our market and show just how far we’ve come since the recession.

1. New listings. Almost 23,000 new homes have come on the market in the last 12 months.

2. Home sales. How many homes were sold during the same time frame? Some of you may be under the impression that every home that comes on the market is selling. However, that’s not what’s happening in reality. Out of those 23,000 listings, only 17,700 sold. That means there are between 5,000 and 6,000 properties that failed to sell. Regardless of what you think about the market, I encourage you to make sure that your Realtor has a strong marketing plan in place to sell your home. That's really the only way to guarantee a sale in this market.

It is taking an average of 11 showings to sell a home.

3. Median sale price. This is intriguing. During the recession, the median sale price was around $180,000. Today, it’s at $240,000. It’s increased by over $50,000 in the past five years, but there are people who still think their home won’t sell. If that’s the impression you're under, I invite you to give us a call. If you tell us how much you owe and how much you’d like to sell for, we would be happy to give you our honest, professional opinion if that is doable.

4. Market time. How long does it take a home to sell on average? Over the past 12 months, the answer is 58 days.

5. Average showings. Finally, let’s look at the average number of showings it takes for a home to get an offer. Right now, homes are getting offers after an average of 11 showings.

If you’re interested in learning more and taking a better look at these statistics, you can view them in their entirety here.

If you have any other questions about Charleston real estate, don’t hesitate to give us a call or send us an email. We would love to hear from you.

Why hire the Jeff Cook Team to represent you?

As the #1 Residential resale agent in the Charleston area for 5 years in a row, Jeff Cook is more than capable of handling the sale of your home in a satisfactory manner. You will not find a more experienced, driven, and successful group than the Jeff Cook Real Estate Group. Whether you are looking to buy or sell, you will find a team that is willing to put your satisfaction at the forefront of the business.

Jeff hopes to provide you with a superior buying and selling process with free reports on Charleston homes for sale and local listings of all homes for sale in Charleston. With a deep knowledge of the local area and a decade of experience within the field of real estate, Jeff is sure to exceed all of your expectations. If you want someone who will work tirelessly to ensure your satisfaction, then you are looking in the right place.

Jeff Cook
Jeff Cook Real Estate
Offices in Summerville, Charleston,
West Ashley, and Mount Pleasant
(843)225-2002
Info@JeffCookRealEstate.com

Erich - "The Jeff Cook team was very helpful through the whole process. Everyone was incredibly pleasant and they really kept me calm during times I was worried that nothing was going to happen. They always gave me good information and were very willing to work with me."

Lee - "I was very impressed with how they kept in contact with me. There wasn’t a week that went by where I didn’t hear from them. Jeff has the most knowledge and we really felt that he would be able to take care of our needs and concerns."

Jeff - "When we found the home we wanted, we told our Realtor at Jeff Cook Real Estate and told her what we were looking for. She worked very hard to get us into the house quickly and really made sure things were moving along. She even made calls to the utility company and home inspectors that, to me, was above and beyond!"

See what our thrilled Charleston real estate clients have to say

"Our real estate agent, the divine Becca Hodges and the entire Jeff Cook team made buying a home in Charleston SC, while still living in Kodiak Alaska, 4500 miles away, anxiety free. Becca was able to take our long lists of wants and needs in a home and set up multiple search criteria. Essentially, the home of our dreams found us. She happily met with our parents, multiple times, as our stand-ins for showings and never wavered at the challenge of a 4 hour time zone difference for many phone conversations. Working with Becca Hodges and Jeff Cook Real Estate was a pleasant experience. We highly recommend them."

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We had to move to another city before our house was sold and we were scared to death of having to pay a mortgage and rent at the same time for too long. Luckily, Jeff Cook and his team quickly sold our house. We had multiple showings daily for two weeks with great feedback (painting allowance requested, power wash the house, etc.). Those few things were done and soon enough we had two offers. Within the month we were under contract, and closed not even two months later. It felt like a miracle honestly, and we even came out on top! The team works so seamlessly together, and is efficient in each of their roles, you never have to wonder if they've forgotten about your house. I really can't express my thanks enough, they were a dream team to work with! Its just too bad we weren't buying in the area again. Jeff Cook move to Atlanta!"

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What 5 Statistics Define the Charleston Real Estate Market?