Charleston SC Real Estate Sales Drop 35% From January 2008

More bad news about the Charleston real estate market just emerged here:

The number of homes sold in January dropped 35 percent from 2008 to 372 transactions, a figure so low that the Charleston Trident Association of Realtors could not find a lower monthly number in its sales database, which dates to 2003. The median price skidded to $176,750 from $191,600 in December.

It's not clear whether this data is across the board in Charleston, or whether it is mostly concentrated in lower-value neighborhoods, i.e. not the 29401 zip code. Good time for buyers though!