Tri-county median home price dips in August

The median price of a Lowcountry home in August decreased by half a percent from the same time last year, the Charleston Trident Association of Realtors reported Monday.

While the median home price in Charleston County dropped, median home prices in Berkeley County and Dorchester County increased.

For the 531 homes sold in Charleston County in August, the median sales price was $245,000. In August 2006, the median price for a home sold in Charleston County was $269,700.

In Dorchester County, 236 homes were sold in August at a median price of $195,500, compared with a median price of $193,900 for homes sold in Dorchester County in August 2006.

In Berkeley County, 263 homes were sold last month with a median sales price of $188,200, compared to a median price of $163,932 for homes sold in Berkeley County during August 2006.

The average days on the market for a home in Charleston County in August was 105. In Dorchester County, the average number of days on the market for a home last month was 81 and in Berkeley County the average number of days on the market for a home was 86 days.

Berkeley County had the greatest increase in the median home price last month, with a 14.8% rise in August 2007 over August 2006.

The median home price in the tri-county region in August was $215,000, with 1,065 units sold. Homes spent an average of 92 days on the market last month. The median home price for the tri-county area in August 2006 was $216,000, with 1,256 units sold. Homes spent an average of 69 days on the market in August 2006.

Year-to-date, the median home price in the Lowcountry has risen by 1.7%, from $207,474 to $211,000. Year-to-date sales are down 19.1% from the same period in 2006.

as provided by Charleston Regional Business Journal