August home sales jumped by about one-third in the Charleston region compared to last year, but values remain in flux.
The Charleston Trident Association of Realtors said today that 904 homes changed hands last month at a median price of $185,000. It was most active month based on transaction volume so far this year.
“Every month, we take another small step in the right direction — our market remains fragile, but sales volume has increased steadily throughout the year,” said Rob Woodul, the association’s president.
The median price was down 7 percent compared to August 2010 but up 3 percent from July. Local home prices have been under pressure locally and nationally from foreclosures and “short sales,” in which the mortgage lender agrees to take a loss. Those factors “will continue to have an impact on pricing until they clear from local inventory,” the Realtors group said.
For more details, see Tuesday’s edition of The Post and Courier.