Lowcountry’s midyear home sales report showed double-digit trends
Double-digit change dominated many areas of the midyear reports on the Lowcountry’s housing front.
That included the volume of home sales up 22 percent compared to the six-month span in 2012, said the Charleston Trident Association of Realtors.
The days a home sat on the market before being sold was 82, or 26 percent fewer than the 111 days for the same span in 2012.
As of last Wednesday, 5,655 homes were classified as being actively for sale in the Multiple Listing Service database, down 10 percent from the same day in 2012.
The median price growth didn’t reach double-digits, but it’s worth noting it came close: $202,000, up 8.6 compared to a year ago, the association reported.
What areas of the tri-county region thrived the most between January and June?
Perhaps it’s less of a surprise, but the housing hotbed was Mount Pleasant, south of the Isle of Palms Connector. The area tallied 584 homes sold in the first six months of the year. That’s 156 more sales than the same span in 2012, according to local information website CharlestonRealEstateStats.com. The area’s median price also grew 8 percent to $335,000.
The volume of sales surpassed the Mount Pleasant area south of the IOP Connector with 540 and the 507 transactions in the Summerville/Ridgeville area.
PNC Bank recently provided $500,000 in low-cost financing to the Lowcountry Housing Trust’s Revolving Loan Fund, officials said. The nonprofit’s fund provides financing for affordable housing in the region.
PNC’s investment comes just months after the Lowcountry Housing Trust held its inaugural summit to form a master plan to address the needs for more affordable housing in the tri-county.
Reach Tyrone Richardson at 937-5550 and follow him on Twitter @tyrichardsonPC.