The Charleston, SC residential real estate market continues strong, albeit with some weaknesses in specific areas.

Number of Transactions

Overall, sales are up 0.3% in terms of number of transactions over the same 2018 period. Depending on how the rest of the year goes, we could beat the 2017 record.

The following MLS areas are significantly up in number of transactions over the same 2018 period:

• 22 Folly Beach to Battery Island
• 31 North Charleston Inside I-526
• 32 North Charleston/Summerville Outside I-526
• 41 Mt Pleasant N of IOP Connector
• 52 Peninsula Charleston Outside of Crosstown
• 74 Jedburg Rd-Black Tom-Hwy 17A-Col Pk
• 75 Cross/St. Stephens/Bonneau
• 78 Wando/Cainhoy

The ...

"How is the Market?"

This is the most common question we get asked as Realtors. At the risk of sounding evasive, the best answer is to say "Why do you ask?". 

The point is that we need more information before we can answer the question appropriately.  Is the person asking about his/her neighborhood, city, zip code or metro area? From what perspective - homeowner (seller's)/buyer's/investor's or renter?

Our market (Charleston Metro Area) is still strong (seller's market). However momentum is shifting and many sub-areas are behaving differently. For example, while the median Months of Supply for the whole Charleston MLS (single family detached homes) is pretty stable at 3.9 months, some...

Analysis of residential properties that went under contract (Active Contingent) in the Charleston, SC area during the week of 2/1/19 to 2/7/19

• 328 residential properties were placed under contract past week. Very strong for this time of the year.
• 265 single family detached homes under contract past wk. Median LIST price $279k,$147/sqft. 4 under $100k. 9 over $1M, 2 of those over $2M. Median 22 CDOM. Median Yr Blt 1998, 9(3%) were BANK OWNED FORECLOSURES or SHORT SALES. Another 12% NEW CONSTRUCTION. 3 of 5 short sales in areas 31/32, 61-76
• 47 island single family homes under contract past wk. James-18, Folly-4($595k,$599k,$819k,$1.5M), Johns-12, Wadmalaw-1 ($599k), Edisto-2 ($190k...

By Warren L. Wise | [email protected]
More options for home shoppers in the suburbs
Prospective home buyers will have a few more choices in one of the Charleston region's large developing, mixed-use communities.

Nexton, near Summerville, has added three new home builders to its mix. They include Ashton Woods, David Weekley Homes and Homes by Dickerson.

They join Pulte, Del Webb, Saussy Burbank and TrueHomes, who are already on the ground in the 5,000-acre Berkeley County subdivision where about 6,500 homes are slated to be built over the next decade or so.

Nexton selected the home builders based on their integrity, quality of work and forward-thinking design philosophy, which para...

With the Charleston heat on the way, there's nothing better than having a beautiful pool to enjoy privately!

According to the Charleston MLS, only about 5% of detached homes that were on the market in the past year had an in-ground or elevated pool. In Mount Pleasant, only about 6% of homes on the market had a pool.

Homes with pools do not come in abundance in this Charleston area, thus owning a home with a pool can give you something to boast about!

Check out these beautiful homes with pools available right now in Mount Pleasant!

  1233 Hidden Lakes Dr.

 2070 Country Manor Dr. 

2072 Willbrook Lane 

2208 Salt Wind Way 

2729 Oak Manor Dr. 

1962 Sandy Pointe Lane 

If interested...

NEW LISTING in the beautiful and sought after Mount Pleasant neighborhood of I'On. This 4 bd. 3.5 ba. home is tucked away from the noise and activities by I'On Creek Club at 62 Saturday Road. 

This home is more than just somewhere to sleep at night. It provides somewhere to rest and relax, a large enough space to raise a family or have the family over, and is located in a neighborhood that embraces the charm and hospitality that Charleston is all about. 

The interior of the home features updates throughout such as painted white cabinets, stainless steel appliances, and a semi-open concept living that's perfect for entertaining and having open sight lines to the rest of the family sp...

Listings for The Gadsden luxury condominiums in Downtown Charleston just went live on the MLS yesterday, February 15th! This condo will have 76 residences available with 1, 2, or 3 bedroom floor plans; some of these residences will feature a park view or a city view. The design of the condo incorporates a warm welcoming feel alongside modern updates such as new stainless steel appliances, oversized ceilings, and modern artistic touches throughout. 

Not only will The Gadsden be centrally located with close proximity to the new Gadsdenboro Park, but to all the great Downtown Charleston restaurants and activities. When not exploring the various activities that are at your fingertips, The ...

The Real Estate Market (in General)

Our real estate market continues to perform well. Year to date, we are up 3.3% over the same period from 2016 in number of transactions. In 2017 we may possibly sell over 18,000 homes for the first time in history! A few MLS areas are actually down in sales numbers simply due to lack of inventory, no one wants to leave!!

Year to date, we are up 4.1% in median sales price over the same period from 2016. Median sales price is now around $254,000. There are a few specific MLS areas, like James Island, where the median sales price is up over 10% over 2016 prices.

New construction abounds all over the Tri-county area. Johns Island, Summerville and Goose...

Charleston, SC Real Estate Market Update

In general, the Charleston, SC real estate market here is booming and 2017 will likely be the busiest year we’ve ever had, so far the market is up by 8.9% over 2016, which was our second busiest year. Median sales price is also up 4.4% to an all time high of $250k. The economy is roaring along, with only about 3.1% unemployment rate.

Demand for the area as a whole is still strong: Manufacturing jobs are being created - with Boeing, Volvo and Mercedes Benz leading the pack. BMW in Greenville is also expanding its plant and this will bring more business to our port here in Charleston. Riding over the Ravenel Bridge you can see the rows of shiny...

Developers broke ground this month on Cainhoy Plantation, a 9,000-acre tract of land (part of the Guggenheim holdings that included Daniel Island) with the construction of a 274-unit apartment complex ("The Village at Point Hope".

The master plan calls for a mix of residential, retail, recreational, educational and commercial uses. The Daniel Island Company is the developer. A new school has already been built, and a second school is expected to open in August. The developer is likely to announce a grocery-anchored shopping center in the community. The first residential neighborhoods will be introduced sometime in 2018. 

The Cainhoy property is bordered by the Wando River, two creeks, a...

Note: I found this article on Realtor Mag and thought it was interesting to copy/paste here (with some minor edits). 

Alan

What’s on Home Shoppers’ Wish Lists

Charleston, SC is getting abundant positive publicity, both domestically and internationally. Top Chef just finished airing the season that was filmed here. The Tennis Channel is making a huge deal out of their first ever full week coverage of the WTA Volvo Car Open tournament here next week on Daniel Island, they are calling it the premier clay tournament in America (Volvo is the main sponsor and they are also busy building their new manufacturing plant built in Ridgeville, in the outskirts of the Charleston, SC Metro Area.

Charleston, SC residential real estate had its 2nd busiest year ever in 2016 and it looks like 2017 is setting up to be even better. Buying activity has been the str...

While 2016 was our second busiest year ever for Charleston Real Estate, 2017 has really started off with a bang.

January was the busiest January in history for Charleston real estate. Inventory is low and demand is very high, which could lead to prices going up even more. Currently, mean prices are still below the trend line going back to 1991, but that may change soon if inventory stays this low.

Fortunately, supply is likely to increase slightly, since many new construction builders are actively working all over the metro area. There are quite a few new neighborhoods under construction - including Ashton Woods' Stratton-by-the-Sound in Mount Pleasant and Pulte Homes' The Arbors in St....

The real estate market here is sizzling hot - January 2017 was the busiest January we’ve ever experienced, and 2016 was the 2nd busiest year ever, second only to 2005 by just a few hundred home sales. We sold over 17,000 houses and that was up over 10% over 2015. The graph shows a 3-month average for closed sales since 2004. 

The median sales price was at an all time high of $245,000, but this was only a modest 4.3% gain over 2015.

Many factors are pointing to 2017 being even a better year: We continue to receive good news from every angle. Volvo is going to open their new plant here this year in Ridgeville (Goose Creek/Summerville area). You can still buy a home on that side of town ...

2016 was a great year for Charleston, SC and its real estate market.

We closed 17,736 transactions for residential properties (homes) in the Charleston Area. This is up by 9.05% over 2015 numbers and our 2nd busiest year ever. In addition, we closed 1,274 vacant land transactions, a similar number than in 2015.

In terms of median home price, we are up by 4.95% YTD over 2015 and the median sales price is now at $243,000 (see Median Price chart - click to enlarge).

While this is an all-time high, it is below the trend line running back to 1991. That trend line predicted we would be well over $250,000 by now. This tells us that we are still somewhat undervalued and have room for appreci...

Charleston, SC Real Estate - December 2016 Update

The Charleston real estate market continues to do extremely well and reflects the strong state of the overall economy here.

We are up 10% year-to-date in the number of transactions and we may sell over 17,000 homes this year. It will either be the busiest or the second busiest year ever.

Median sales price is up almost 5% to $244,000 (see chart). Forty percent of the properties currently under contract are new construction. And this new construction is spread out over the entire Tri-County area - from Summerville to Johns Island and from Mt Pleasant to rural West Ashley.

The Volvo plant has brought several new subdivisions to the Sum...

Charleston Strong

Our real estate market here continues to do very well. New construction is prominent in several MLS areas including Johns Island and Mount Pleasant. However, new construction seems to be making its biggest strides in the Jedburg/Ridgeville area near the new Volvo plant that is under construction.

The Nexton community (developed by Westrock) is going to dwarf the already sizable Cane Bay subdivision. A new exit ramp is being built off I-26! Overall, the Tri-county areas are up 10.5% in number of transactions (year-to-date) over 2015. 2016 will likely record over 16,000 transactions , making this the 2nd busiest year ever.

Median sales price is up 5.1% to almost $244,...

Condos.  Buyers who like them, love them.   But they cannot always close on them - mainly for two reasons: the number of investors owning the units, or that the condo is in litigation.

There are solutions, with potentially more on the way.

Conventional loans: Did you know that Fannie Mae does not have a limit any longer on the number of investors who own units in a condo project? Nice. 

And, with 10% down or more, many lenders will take a look at, and often lend on condos in litigation. Here's what to look for: If the HOA is being sued by some outside party, then many lenders will not lend on the property. (Reason being, that could potentially bankrupt the HOA, and both buyer and lender ar...

Charleston SC Real Estate Stats - Oct. 2016

Charleston Real Estate Market Update
by the Charleston Trident Association of Realtors

CHARLESTON, SC—(September 13, 2016) 1,732 homes sold during August in the region at a median price of $241,530 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). In August 2015, 1,390 homes sold at a median price of $218,000. This data reflects a 25% increase in sales volume and 11% growth in median price, comparing last August to this August.

Year-to-date figures show 12,050 homes sold in 2016 at a median price of $239,900 in our area. Comparing year-to-date figures from 2015, sales volume has increased 9% and buyers are paying 6% more for homes in...