Posted by Jonathan J. Miller -Tuesday, January 23, 2007, 11:35 PM
[The research for this quarterly market report is provided by Brad Rundbaken, of Advantage Commercial Capital Inc., a real estate appraiser, consultant and investor with a stock brokerage background. He analyzes the Charleston real estate market using the Charleston-Trident MLS and inserts a lot of extra analysis on the national housing market.
Brad was terminated last year from his position as a staff appraiser for an appraisal firm in Charleston that appeared to bow to pressure from their clients after Brad released "not so rosy" price trends. It caused quite a media stir in Charleston in the 2nd Quarter of 2006. However, Brad has started a new endeavor, has a loyal following and is now able to speak his mind. I admire his determination and his honesty. He's also runs a blog called Trendocracy. Here are the areas he covers and his methodology] -Jonathan Miller
Here are some of results pertaining to the overall market.
- Prices are unchanged as compared to this time last year.
- Marketing time expanded by 29 days to 71 days from 42 days in the prior year quarter.
- The number of listings expanded 61.7% over the past year, and unchanged from the prior quarter while the number of sales fell 18% from the prior year quarter.
Review the report for more details on the tri-county market area as well as 16 other market areas. He crams in the insight.