List (asking) price vs sales price May 2008

May 31, 2008

Charleston real estate prices

With almost 12,000 homes currently available for sale in the Charleston real estate market which is almost a 16 month inventory if no additional homes come on the market.

If you really want to sell your home, you must price it to sell.

As you can see, the asking price is significantly higher than the prices paid by buyers in all classifications with the only exception being luxury condos and townhomes.

The current sales price to list price according to Charleston MLS statistics shows that homes are selling at a 5.23% discount to list.

That is the highest rate I’ve seen yet asking prices are even higher per the chart above. Something has to give and my best guess is that it won’t be the buyer.

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