Mt Pleasant Real Estate Market

Those of us who have been in this industry for a long time have seen the signs of a market shift coming to our local market for a few months now. But the indicators can be confusing.

Let's take home prices; Home prices in South Mount Pleasant (29464) have been pretty flat for the last 12 months. And in the last 3 months prices have softened a little, perhaps when sellers who wanted to sell in early summer panicked and lowered their price expectations to get a buyer before the end of the summer.

The graph below shows the median sales price for single family, detached homes in zip 29464 (12-month moving average). 

Although us Realtors do not have a great confidence in the ZEstimate(R) va...

Mount Pleasant Real Estate Market Update

As part of our job as Realtors, we regularly review the "state of the market" for Mount Pleasant real estate to be able to provide sound advice to our clients.

This chart shows the percent of sold/original price that homes are selling for in Mount Pleasant. It is interesting to observe that in the last three years, this percentage has flattened at around 97%, and it never reached the heights achieved back in 2006.

Mount Pleasant acts as the "weathervane" for the rest of the Charleston, SC metro area. All the trends seem to start here and they "filter down" to the rest of the areas, usually with a lag of 1-2 years. 

Most major metro markets in ...

We have been experiencing a "boom market" in Mount Pleasant since 2013. Home prices are now above the "high water mark" record prices established in 2006.

However, our real estate market in Mount Pleasant is not as "hot" as it used to be in 2005 and 2006. How do we measure this?

a) Percent of Original Price. The graph shows that in 2005-06 the median percent of original list price in Mount Pleasant (12-month moving average) was 98.7%. Right now (July 2016) it is hovering about 96.4%

b) Days on Market - how fast are single family homes selling? In June 2005 the 12-month rolling average for the median Days on Market was 18 days. Right now that chart shows 24 days. 

So, hot? Yes. S...

Buying New Construction in Mount Pleasant, SC

There are a number of new home developments in Mount Pleasant, most of them located North of IOP Connector. As a matter of fact, in that area 56% (almost 6 out of 10) "pending" transactions are for new construction homes. 

The two largest developments in the area are Oyster Point by DR Horton and Carolina Park (multiple builders). Both developments have a range of products from townhomes (attached) to custom/semi-custom built homes. Other smaller subdivisions like Magnolia Village (Beazer Homes), Tidal Walk (DR Horton), Porchers Preserve (Pulte Homes) and Tupelo (Ryland Homes) are selling swiftly.

One of the main difficulties about buying a...

It's a Great Time to Buy in Mount Pleasant!

The Mount Pleasant residential real estate market has been on fire for the last three years. Mount Pleasant seems to be the "weathervane" to the Charleston Metro Area, as all the real estate trends seem to start here first, and then filter through to the rest of the sections of the city. 

The graph shows the Median Discount for Mount Pleasant compared to the whole Charleston MLS. As it can be clearly seen, the lines crossed back in October 2011, when Mount Pleasant's market started "heating up", and the rest of the area lagged - that is, until August of 2015, where the lines crossed again. This time the Charleston area as a whole became "hotte...

Mount Pleasant Market: Running Out of Steam?

Author: Alan Donald. August 7, 2015
Note: This article refers to general area information, but real estate sometimes is "hyper-local", which means that certain neighborhoods may behave differently that their areas. Click Here if you are interested in buying a home in the Charleston Area and want information about a particular neighborhood. 

We have always maintained that in real estate, the Mount Pleasant market is to the rest of the Charleston like the California market is to the US in terms of technology trends: Everything happens first in Mount Pleasant, and then it "filters through" to the other areas. 

Case in point: The Mount Pleasant r...

NOW SELLING NEW HOMES! New homes start from the $300's, and custom homes in Riverside at Carolina Park start in the $500's. Call us today on 843-900-0155 to receive a printed information package or to arrange for a tour of of the neighborhood.

Interested in Mt Pleasant New Construction?  Take a tour of Carolina Park in this video-- take a peek inside some model homes(David Weekly Homes & Ryland Homes), get the latest pricing/planning information and take a look around the neighborhood.  Call 843-900-0155 or read more about Carolina Park in Mount Pleasant, SC  here.

Carolina Park is a 1700-acre, mixed use (residential & commercial) "master-planned" community built around the con...

VIDEO:  Mount Pleasant Market Update! 

For custom market update or valutation of your home call 843-900-0155.

As you know the residential market went through a low until about 2010 and it has been recovering ever since. And we have had a pretty good year in the last 12 months in Mount Pleasant, SC with inventory going down substantially and demand rising and prices are actually going up (with only 3 and a half months inventory in terms of absorption). However, there are a couple of things that may slow down our market growth. One is the unusual growth in inventory - normally after June/July inventory starts decreasing until the end of the year. This year it was a little bit unusual...

Mount Pleasant, SC Residential Real Estate Market Update

The residential real estate market in Mount Pleasant, SC continues to strengthen, as inventory continues to shrink and demand continues strong, fueled by low interest rates, attractive property prices and underlying demand resulting from the perceived quality of the public schools, convenient location close to Downtown Charleston, Boeing and the beaches, and great lifestyle. 

The volume of annual sales in Mount Pleasant continues to grow (the number of homes sold per year has grown by about 52% since 2009).

This increased demand, combined with the limited supply (very few new construction homes have been built since 2006) has c...

Buying a Condo in Mount Pleasant, SC With an FHA Loan?

Are you planning on purchasing a condo in Mount Pleasant using an FHA loan to finance it?

Make sure that the condo project is on the "HUD-Approved List" before you get too excited. If it is not (or if the approval has expired), your loan will not get approved!

Click here to view the "official" list of HUD-approved condo projects in Mount Pleasant, SC!

Another important question to ask is if the Condominium association is currently under litigation or not. Most banks will not lend money to purchase condominiums where the HOA is involved in litigation!

Call us on 843-900-0155 - we can help you "navigate" the condo market and buy a ...

Yesterday we heard that the lawsuit between the former and new owners/developers of Carolina Park, the planned community next to Wando High School in Mount Pleasant was settled.

This paves the way for the builders who have lots to start marketing their products without the "legal cloud" that would otherwise be there in reference to the master community lawsuit. 

Ryland Homes will be the first builder offering new homes in Carolina Park. Next in line will be David Weekley Homes. It is rumored that John Wieland Homes may also buy some of the semi-custom lots and start offering homes in Carolina Park.

New home construction has been very active in Mount Pleasant. With five years of almost ...

Here is an update on Ryland Home's Carolina Park neighborhood in Northern Mount Pleasant, SC.

As far as we know, Ryland is starting pre-sales this month. The floor plans they will be offering are:

• The Savannah (2,072 sq. ft. 3/2.5/2) from $309,000
• The Thompson (2,158 sq. ft. 3/2.5/2) from $322,000
• The Edisto (2,228 sq. ft., 3/2.5/2) from $324,000
• The Beaufort (2,365 sq. ft. 3/2.5/2) from $329,000
• The Coosaw (2,749 sq. ft. 3/2.5/2) from $349,000
• The Wando (2,964 sq. ft. 4/3.5/2) from $359,000

In order to CHOOSE THE BEST LOT we suggest you SET UP AN APPOINTMENT early!

Call us TODAY to set up your appointment! Or SEND US YOUR CONTACT INFORMATION to mail you a printed information...

OYSTER POINT, a new marshfront residential development proposed by DR Horton, received initial approval from the Planning Department of the Town of Mount Pleasant. Now the project goes to the Town Council Planning Committee and then to the Full Town Council for a vote.

The 200-acre parcel off of Rifle Range Rd. and Six Mile Rd. will contain 593 residential units and could begin by the end of 2012.  To receive early-bird information about the proposed homes, prices and floor plans, please fill out this form.

The project will use a first-of-its-kind Conservation Landscape District Zoning that allows homes to be built closely together so long as developers preserve 25 percent of the proper...

MOUNT PLEASANT, SC REAL ESTATE INVENTORY KEEPS SHRINKING!

The following chart from Trulia.com shows the number of available listings for sale in Mount Pleasant, SC.

As demand shores up and inventory keeps going down, the residential real estate market will keep turning around and prices are starting to firm up in the lower price points.

However, there are a few larger new construction projects that are starting up soon: Carolina Park (John Wieland, Ryland Homes, David Weekly Homes) Tupelo Bay (Ryland Homes) Oyster Pointe (DR Horton) If you wish to receive detailed information about these new projects, please fill out this form.

Search Homes for Sale In Mount Pleasant, SC.

Wish to ...

MOUNT PLEASANT, Jul 10, 2012 - Snee Farm, one of the premier residential golf communities in Mount Pleasant, SC, announced that construction for the major renovation to its Golf, Tennis, Swimming and Social Clubhouse started today. According to Michael Ashton, General Manager for the Snee Farm Country Club, construction will take about six months and will trigger renewed demand for this established golf community.

"This renovation will re-kindle interest for Snee Farm golf and real estate as one of the best planned and most affordable residential golf communities in Charleston and Mount Pleasant, SC. A brand new clubhouse, coupled with its proximity to shopping, Downtown Charleston, Boei...

Carolina Park in Mount Pleasant, SC Still on Hold

Carolina Park, the large, 1700 acre mixed-use community to the North of Park West in Northern Mount Pleasant, is yet to re-start construction after the foreclosure sale the original developer went through. 

I heard through the grapevine that the new owners still have to clear some liens from the title before individual builders can re-start construction. These builders include "new" participants such as Ryland Homes and John Wieland Homes.

If you are interested in receiving timely updates on Carolina Park, please send us an email, or call us on 843-416-1434.

View Carolina Park in a larger map

Mount Pleasant SC Residential Real Estate Market On The Rebound!
The graph below shows the behavior (2000-2012) of the Median Sales Price Index and the Months of Inventory (Absorption) Index
for Mount Pleasant SC. For additional charts and a full analysis please click on the image below.