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

  • Prices-  Both the YTD average and median sale prices at the end of July increased MOM.  Up 3.9% from June, the average sale price increased to $116,870 while the median saw a more modest increase of 0.5% to $98,000.  In spite of the increase, YOY, 2019 is still 0.5% below last year’s average sale price and 5.3% under the median. *As mentioned above, data for prior years are based on the entire year.     
  • Closed Units- Finishing July with 23 closed units, Charleston’s YTD total increased to 131 units.  July closings helped 2019 further increase its pace over the YTD 10-year average to 4.1%.  When compared to the YTD 5-year average, Charleston narrowed the gap at the end of June from -4.6% to 3.1% at the end of July.   
  • Inventory- Coming off of June setting a 65-month record for the fewest number of active properties to start a month (87 Units), Charleston’s inventory spiked to 104 properties, not under contract on July 1st.  The 17 unit swing represents the largest MOM change in units since August 2014 increased by 18 units from the prior month. Even with the significant increase, Charleston is still down 14.8% YOY and 16.6% under the 5-year average for August 1st inventory.           
  • Pendings- After July set a 24-month record for the number of units under contract (34), August fell 20% MOM to 27 pending units on the first of the month.  And while the decline is significant, it is less alarming when compared to the same period in 2017 and 2018 when pending units fell 11.8% and 18.5%, respectively.  Additionally, the 27 units represent a 23% increase over the 22 on August 1st last year.             
  • Active / Pending- Of the total market (actives + pendings), pending units made up 20.6% of the properties on August 1st putting it ahead of 19.6% in 2017 and 15.3% in 2018
Charleston Market Information
Charleston Market Information
Charleston Market Information
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