|
Professor Tim Allen of the College of Charleston launched the Charleston SC Real Estate Home Value Index which estimates home values on a monthly basis taking into account specific characteristics of the homes. This estimate of value allows for the tracking of home values in the Charleston area based on local characteristics.
A summary of the index is as follows:
Home Value Index
The College of Charleston Home Value IndexSM is prepared monthly for the tri-county area, and quarterly for smaller geographic areas in the Charleston community, by Professor Tim Allen, Ph.D., Director of the Carter Real Estate Center at the College of Charleston's School of Business and Economics. The index is a "constant quality" hedonic price index that is calculated by estimating 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 in each defined geographic area (tri-county and smaller areas) over time. The index should not be interpreted relative to the value of any particular home, but to the value of a "typical" home with the contributions to value from home's features evaluated at the average estimated price of those individual features.
Download a white paper explaining the methodology used to create the index.
The College of Charleston Home Value IndexSM indicates that the value of a typical home in the Charleston Tri-County Area fell by 5.17% in April. In comparison, the change in the index value was -1.29% in February and -3.38% in March.
Download the May 10, 2009 Home Value Index.
The Carter Real Estate Center welcomes requests for specialized market analysis reports on a contract basis. Professor Tim Allen can be contacted at 843.953.8121 or via e-mail at allent@cofc.edu.
April 14, 2009
Charleston SC Real Estate
A full service Charleston Area Real Estate Brokerage with 4 offices located in the Goose Creek, Mount Pleasant, Sullivan's Island, and West Ashley Areas of Charleston SC. Services include residential sales and property management including long term and vacation rentals, and commercial sales and leasing.
1-800-886-3406
|
