Charleston Market Information

Whether buying or selling, one characteristic to consider when choosing an agent is their knowledge of the market.  We believe it is critical for our clients to have current, relevant information.  According to the National Association of Realtors “2016 Profile of Home Buyers and Sellers”, 92% of buyer respondents rated an agent’s knowledge of the real estate market as “Very Important.” 

Real estate is local, not only to a community, but also to different price ranges.  While one price point may be performing very well, there may be others that are not.  Therefore, we track not only the overall market information for Mattoon and Charleston, but we break each community into 13 different price ranges.  Click here if you would like to receive our monthly report.  Otherwise, check back monthly for some highlights that we observed in the market.      

Charleston

  • Tied with last year, the 10 closed units were the fewest December closings since 2010.  As a whole, there were 192 units closed in 2018. This is a 17.6% decrease YOY and an 8% decrease in the 5-year average for closings.  This is the fewest number of closings in a year since 2011 posted 169 closed units. 
  • While the market significantly underperformed based on the averages for units sold, however, the decline can be attributed to just 2 of the 11 two price ranges.   Both the $40,000 - $59,999 and the $80,000 - $99,999 ranges finished with 10 fewer closed units than their respective averages. 
  • Both the average and median YTD sales prices slipped slightly from November.  While the average sale price, $117,483, finished ahead of 2017 by 0.5%, the median sale price fell 3.7% fo $103,500.  When compared to the 5-year average, 2018 was less than 1% below for both prices. 
  • Inventory fell for the 3rd month in a row to 103 active units as of January 1st.  Despite the recent declines, this is still above the 5 year average of 100.8 for January 1st, by 2.2%.
  • Pending units dropped three units MOM to 15 properties as of January 1st.  This is significantly below January 2017 and 2018 marks of 28 units and 21 units.   
  • Foreclosure sales in 2018 remained relatively unchanged in terms of units sold at 16 compared to the 15 in 2017 and 18 in 2016.  Foreclosures accounted for 8.3% of the 192 sales in 2018. And while up YOY, this is right in line with the 5-average of 7.7%.
 


Charleston Market Information
Charleston Market Information
Charleston Market Information
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