Charleston Real Estate Market Report – 2015

Charleston Real Estate Market Report – 2015

The annual report from the Charleston Trident Association of Realtors has been released for 2015. The biggest news in 2015 was the lack of news on rate increases, so buyers kept locking in low 30-year fixed rates. Closed sales increased 13.7 percent to close out the year at 16,202. The cost to buy a home rose again in 2015. The overall median sales price was up 6.5 percent to $229,000 for the year. Home prices should continue to rise in 2016 but perhaps at a tempered pace as the market approaches natural balancing point. Price gains should be more in line with historical norms in 2016.