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

  • Through the first seven months of the year, the 151 units closed ranks as the 3rd highest total for YTD sales since 2000.  This is a 10.2% increase over 2016 and a 12.6% increase from 2015. 
  •  Inventory rose for the second month in a row to 123 active units on August 1st.  This represents a 6% increase from July, however it is a significant drop from the 155 active units in August of 2016.  2017 is only marginally higher than the 5 year average for August of 121.4 active units .  
  • Three of the four timeframes indicate between 4.6 and 6.6 months of supply, thus a market that is neutral to slightly favor seller.  The exception is the projected supply.  This category jumps to an 8.4 month supply. However, if an adjustment is made for rate of sales in 2017 compared to the average, absorption rates indicate a 7.4 month supply.  
  • Thus far 2017 has had a higher percentage of buyers utilize some type of conventional style financing than in the past five years.  Conversely, buyers paying all cash is at the lowest percentage in five years.     


Real Estate Links Our Domains