The Charleston area saw continued improvement in residential real estate with record low inventory, the Charleston Trident Association of Realtors said in its October market report. October inventory declined to 7,524 from 7,792 one month ago. For the same month a year ago, inventory was 8,991.
In October, the 670 homes sold in the Charleston area at a median price of $190,000. Those numbers reflect a 6% increase in home sales and a 2.5% decrease in home prices compared to 2010.
“While it is typical to see lower inventory levels toward the end of the year, we haven’t had this few homes for sale in half a decade” said Rob Woodul, 2011 CTAR president.
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