Home Prices Continue to Rise in Charleston

Home prices continue to increase across the Lowcountry.

Property information provider CoreLogic reports home prices in the Charleston-North Charleston market climbed 11.3 percent in May compared to the same month a year earlier, including foreclosures and other so-called distressed sales.

From April to May, home prices jumped 2.1 percent.

Excluding distressed sales, year-over-year prices rose 10.1 percent in May. Month over month, they rose 1.6 percent from April to May, according to CoreLogic, which does not report dollar values.

In June, the region’s median home price reached $240,000, up by $12,500 over the same month a year earlier, according to the Charleston Trident Association of Realtors.

South Carolina reported the highest home appreciation rates in the country in May at 10.3 percent for home prices including distressed sales and 9.6 percent excluding distressed sales, CoreLogic said.

Warren L. Wise Columnist