Here's a short video courtesy Charleston Trident Association of Realtors: Charleston Real Estate Market 2009 Summary
Below are charts for the Summerville and Mount Pleasant areas. The good news is that the inventory of homes declined over 2009 as buyers took advantage of the first time homebuyer tax credit, historically low interest rates and declining prices which made homes more affordable than they have been in years. The largest dent in the inventory of unsold homes came at the lower price points as the majority of homebuyers in 2009 were first time buyers. The price per square foot of homes that sold decreased and the number of days it took to sell a home increased area-wide. In 2010 if the economy continues its recovery and unemployment rates decline, we are hopeful the real estate market will continue to shift to a more balanced market with prices stabilizing. Click on each graph for full-sized viewing!
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