Charleston area continues to rack up stellar home sales

Home sales continued at a good clip during May in the Charleston area.

Charleston area home sales continue to sizzle.

Home sales rose 10.9 percent last month over May 2014 as 1,457 homes changed hands in the region at a median price of $235,000, according to preliminary data Wednesday from the Charleston Trident Association of Realtors. The median price is about $17,500 more than a year ago.

So far this year, sales volume is up 19.4 percent, with 6,209 homes sold in the region, compared to last year’s 5,201 sales through May. The median price of $220,000 is growing at about 2 percent for the year, compared to last year’s $215,000.

The association called that rate sustainable.

“Home prices in our region are growing at a steady, consistent pace, which is an excellent indicator of the health of our market, long-term,” said Matt DeAntonio, president. “The summer season is typically one of the busiest, and with a constant influx of new residents moving to the Charleston area every day, the next few months should be incredibly busy for us.”

The Charleston Metro Chamber of Commerce estimates about 43 new residents call the Lowcountry home every day, drawn by the lure of historic Charleston and big industries such as Boeing, Daimler and Volvo. The latter two recently announced twin $500 million auto manufacturing plants in the area and thousands of new jobs in the next few years.

Home inventory increased with 50 new listings on the market, but the association said the number of available homes continues to trend low regionally and in some of the more popular areas around Charleston.

Currently, 5,855 homes are listed as “active” for sale in the Charleston Trident Multiple Listing Service.

The association also adjusted April’s figures slightly to show 1,407 homes sold, up by 21, at an unchanged median price of $220,000.

Reach Warren L. Wise at 937-5524 or twitter.com/warrenlancewise.