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Charleston Home Values Increased for the Second Month Straight According to the College of Charleston Monthly Home Value Index. Increased sales and stabilizing home values in the Charleston Real Estate Market are signs of a recovery.
JULY 10, 2009
The College of Charleston Monthly Home Value Index SM indicates that the value of a typical home in theCharleston Tri-County Area increased by 2.51% in June 2009. In comparison, the change in the index value was +8.61 in May 2009, and -5.17% in April 2009.
The College of Charleston Home Value IndexSM home value index is prepared monthly for the tri-county area by the Carter Real Estate Center at the College of Charleston. The index is a “constant quality” hedonic price index that is calculated by estimating the prices of individual property characteristics using data provided by the Charleston Trident Association of REALTORS® from its Multiple Listing Service. The index tracks the value of a “typical” home over time. The index should not be interpreted as an indicator of the change in value of all homes, but as an indicator of the change in value of a “typical” home with the contributions to value from that home’s features evaluated at the average estimated prices of those features.
Additional details about the index are available in a descriptive paper titled “College of Charleston Home Value
Index available at www.cofc.edu/cartercenter/hvi.
The Carter Real Estate Center welcomes requests for specialized market analysis reports. Contact Professor Tim
Allen by phone at 843.953.8121 or by e-mail at allent@cofc.edu for more information
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