| Sales and Inventory Report | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Category – Residential Statistics for Entire MLS from 8/1/2007 – 7/31/2009 |
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| Month | Year | Monthly Sales |
Monthly Volume |
Avg List $ | Avg Sale $ | Avg $/Sqft | Median Sold $ | Avg DOM | % Sold/List | Current Inventory |
Months Inventory |
| August | 2007 | 1180 | $374,088,399 | $329,743 | $317,024 | $159 | $210,000 | 79 | 96.14% | 11816 | 10.01 |
| September | 2007 | 970 | $288,411,129 | $306,911 | $297,331 | $156 | $199,857 | 77 | 96.87% | 11839 | 12.20 |
| October | 2007 | 916 | $268,044,935 | $302,872 | $292,625 | $157 | $202,562 | 82 | 96.61% | 11733 | 12.80 |
| November | 2007 | 933 | $246,474,609 | $273,999 | $264,174 | $143 | $200,000 | 82 | 96.41% | 11626 | 12.46 |
| December | 2007 | 793 | $229,363,340 | $301,581 | $289,234 | $149 | $209,503 | 92 | 95.90% | 11267 | 14.20 |
| January | 2008 | 652 | $195,581,685 | $313,890 | $299,971 | $154 | $203,593 | 101 | 95.56% | 10972 | 16.82 |
| February | 2008 | 735 | $217,982,218 | $309,576 | $296,574 | $175 | $200,000 | 111 | 95.79% | 11281 | 15.34 |
| March | 2008 | 869 | $268,826,066 | $321,409 | $309,351 | $174 | $206,290 | 102 | 96.24% | 11522 | 13.25 |
| April | 2008 | 838 | $263,391,473 | $328,502 | $314,309 | $169 | $208,500 | 98 | 95.67% | 11835 | 14.12 |
| May | 2008 | 903 | $277,825,579 | $323,510 | $307,669 | $159 | $211,710 | 114 | 95.10% | 11812 | 13.08 |
| June | 2008 | 920 | $280,467,466 | $321,305 | $304,855 | $149 | $205,950 | 103 | 94.88% | 11730 | 12.75 |
| July | 2008 | 877 | $262,054,317 | $315,312 | $298,807 | $146 | $205,745 | 106 | 94.76% | 11792 | 13.44 |
| Annual: | 10586 | $3,172,511,216 | $312,684 | $299,689 | 157 | $205,000 | 94 | 95.84% | 11602 | 13.15 | |
| Month | Year | Monthly Sales |
Monthly Volume |
Avg List $ | Avg Sale $ | Avg $/Sqft | Median Sold $ | Avg DOM | % Sold/List | Current Inventory |
Months Inventory |
| August | 2008 | 805 | $230,526,616 | $301,111 | $286,368 | $149 | $197,500 | 100 | 95.10% | 11638 | 14.45 |
| September | 2008 | 733 | $191,739,979 | $274,150 | $261,582 | $133 | $187,000 | 100 | 95.41% | 11490 | 15.67 |
| October | 2008 | 641 | $172,915,253 | $284,664 | $269,758 | $132 | $189,900 | 108 | 94.76% | 11435 | 17.83 |
| November | 2008 | 506 | $133,325,340 | $275,843 | $263,488 | $137 | $185,000 | 90 | 95.52% | 11314 | 22.35 |
| December | 2008 | 560 | $144,986,313 | $272,813 | $258,904 | $126 | $196,116 | 97 | 94.90% | 11038 | 19.71 |
| January | 2009 | 426 | $111,287,940 | $277,734 | $261,239 | $210 | $175,000 | 115 | 94.06% | 10802 | 25.35 |
| February | 2009 | 439 | $109,311,231 | $265,455 | $249,000 | $203 | $181,000 | 110 | 93.80% | 11015 | 25.09 |
| March | 2009 | 626 | $157,801,895 | $267,561 | $252,079 | $126 | $183,444 | 124 | 94.21% | 11150 | 17.81 |
| April | 2009 | 574 | $153,971,582 | $289,739 | $268,243 | $130 | $180,303 | 120 | 92.58% | 11275 | 19.64 |
| May | 2009 | 736 | $189,268,235 | $275,520 | $257,157 | $127 | $182,638 | 118 | 93.33% | 11286 | 15.33 |
| June | 2009 | 784 | $205,293,508 | $277,846 | $261,853 | $132 | $192,500 | 117 | 94.24% | 11194 | 14.27 |
| July | 2009 | 814 | $211,259,465 | $277,150 | $259,532 | $131 | $181,000 | 122 | 93.64% | 11137 | 13.68 |
| Annual: | 7644 | $2,011,687,357 | $279,047 | $263,172 | 141 | $186,950 | 110 | 94.31% | 11231 | 17.63 | |
| Annual: | 2007 – 2009 | 18230 | $5,184,198,573 | $298,579 | $284,377 | 150 | $197,245 | 101 | 95.24% | 11417 | 15.03 |
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Note: The “Current Inventory” column(s) reflect the number of active and contingent (on market) listings on the 16th day of each month. The “Months Inventory” column(s) value(s) equal “Current Inventory” divided by “Monthly Sales”. This reflects how many months it would take to sell out of inventory at the current month’s rate of sale. |
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Average price per square foot has been holding steady for four months. Inventory is creeping downward ever so slowly. Months of inventory is clearly down. Sales vs last year are down, but not at as drastic a rate as 2008 vs 2007. We may have seen the worst of it, but this is only speculation.
What will it look like when we’ve turned the corner in Charleston? I’d like to see average price per square foot continue to square off if not rise by a couple of bucks. The months of inventory and absolute numbers are still crazy high which is NOT good for the future of home prices. It would be good to see them start dropping, but this probably isn’t going to start happenning until we see some of the other economic indicators start improving, like retail sales, and employment.
Sellers, homes are selling but only if the home is priced right out of the gate. The buyer doesn’t care how much you owe or how much you’ve invested. Keep in mind, hopefully when you go to buy, you’ll be able to take advantage of the buyers market once you’ve sold your home. Time is on the buyer’s side and they’re looking for bargains. Make sure your home is maintained, decluttered and well staged.
