Posted by Jonathan J. Miller -Friday, May 11, 2007, 12:02 AM
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 his observations pertaining to the overall Charleston market.
Sales prices for the Tri-County area have flatlined since last year. Fortunately, after seeing inventory levels spike over 44% since Q12006 the inventory levels have stabilized since last quarter. It is no surprise that Berkeley and Dorchester counties have outpaced Charleston county over the past year. This has clearly been driven by an influx of jobs in these areas and better housing affordability. Charleston county has suffered the most in the Tri-County with a significant increase in inventory levels and a 10% decrease in the sales price from Q12006.
Review the report for more details on the tri-county market area as well as many other market areas. Chocked full of data.