Charleston-area home sales slipped for the 19th consecutive month to the lowest level for March since 2019. Residential transactions fell more than 25% last month from last year, according to Charleston Trident Association of Realtors.
The report showed 1,589 homes changed hands in March at a median price of $403,075, up nearly 5% from a year earlier, the lowest number of closings for the month in four years, when 12 fewer sales were recorded.
The trend has contributed to the state’s downward trend in overall home sales, dipping to its lowest point in four years, according to a March report from The State. The low sales can be traced back in part to the Covid-19 pandemic as changing in spending patterns contributed to rising home costs.
“When you look back to 2019 and earlier, before the pandemic boom, the sales market was behaving very similarly to how it is now — steady and sustainable growth,” Charleston Trident Association of Realtors president Katesha Breland told The Post and Courier. “The data shows exactly what we’ve been saying, that the market is normalizing and returning to sustainable activity.”
In other headlines:
CP: North Charleston names Gomes as next police chief. North Charleston Assistant Police Chief Greg Gomes is set to become the city’s next chief of police, Mayor Keith Summey announced Monday. Gomes will take over the position effective May 1 after current chief Reggie Burgess retires in a bid to run for North Charleston mayor.
USC’s Boston picked first in WNBA draft. The University of South Carolina’s Aliyah Boston was picked first overall in the WNBA Draft on Monday. Two other USC players also went early. Zia Cooke was the third picked, while USC forward Laeticia Amihere was picked eighth overall.
Gammons to run for Charleston mayor’s race. Charleston School of Law visiting professor Debra Gammons announced her bid to run for Charleston mayor. She is the sixth candidate to enter the race so far.
Park Circle to hold 3rd annual LGBTQ+ Pride festival. North Charleston’s LGBTQ+ pride festival will return for its third year from June 6-11 with 40 events across North Charleston’s Park Circle neighborhood and include programming that’s family friendly.
Recently closed Charleston cafe reopens in Summerville. Popular West Ashley establishment The Gathering Cafe recently closed in February, but reopened in a new Summerville location.
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