While 2011 was not a breakthrough year for home sales, the S.C. Realtors association is painting an upbeat picture about what the relatively stable year means for 2012.
In their annual report, the group cites a 14.7% decline in new listings, the lowest since 2005, meanwhile the number of home sales held steady at the low level in 2009, meanwhile the inventory of homes on the market fell 15.6% to the lowest level since 2007.
In a nutshell, the Realtor group painted a picture of solidifying foundation returning to the real estate market.
You can learn a bit more in the video above, and all eyes are on the spring season to see if this is the long awaited recovery year, or another year paving the way for recovery.
Locally in 2011, according to preliminary figures released by the Charleston Trident Association of Realtors, the Charleston area will close out 2011 with a some 6% increase in closed sales and a difference of 3% in median price from 2010.
"We anticipated the slight decline in median price, with the amount of distressed inventory in our market" said 2012 CTAR President Herb Koger.
In 2011, 9,276 homes sold in the Charleston area, at a median price of $181,573. In 2010, 8,767 homes sold at a median price of $186,423.