The second quarter figures for Downtown Charleston in the area inside the Crosstown reflect the current trend in the housing market. The statistics spanning April to June of 2008 show an increase from the first quarter in certain areas, and will be compared to the quarter preceding as well as the same quarter of the previous year. As the number of sold properties increases in the second quarter, the number of listed properties begins to decrease and listing prices begin to climb.

As the market continues to change, we notice that the second quarter of 2008 leads in number of sold properties in relation to the first quarter. The sold price in relation to the asking price remains a constant 94% during the 2nd quarter of 2007 as well as 2008. South of Broad continues to sustain an average return of 94% of the asking price despite lower listing prices from 2007 to 2008. Please click here for the full report.

Note: The second quarter for 2007 had an average price per square foot of $1,011 which is abnormally high. This is because in June 2007 four houses inside the Crosstown sold between $3,955,000 and $7,200,000 which increased the price per square foot for the entire area. In the second quarter for 2008 no houses sold for over $3,200,000.