Charleston Real Estate Market 
The Charleston Real Estate Market
There are currently 12 blog entries related to this category.
Charleston in Top 5 Markets to Fare Well for 2010
Thursday, December 31st, 2009 at 12:15pm. 134 Views, 0 Comments.
According to SmartMoney.com, the "Top 5" areas in the country that should have home prices performing the best for 2010 are:
- Tacoma, Washington (increase of 2.44%)
- Memphis, Tennessee (up 0.99%)
- Pittsburgh (up 0.89%)
- Charleston, South Carolina (up 0.18%)
- Seattle (decline 0.50%)
Of course, one of the reasons being cited is because of Boeing building their 787 aircraft plant in Charleston, but also because the number of homes on the market in Charleston is declining, and our prices have remained in sync with household income over the past year.
Video Blog on the Latest Charleston Market Info
Friday, December 18th, 2009 at 9:28am. 127 Views, 1 Comments.
Updates on the Charleston Real Estate Market
Here is some updated information on the extended Home Buyers Tax Credit, as well as some statistics on how the Charleston real estate market performed as a whole for the end of 2009. Don't forget, the First Time Home Buyers Tax Credit has been extended until April 30th, 2010.
Play the video to take a look at what the Tax Credit did for home sales in October. Pretty staggering, really. Signed purchase agreements were up 67.8% in October from a year ago.
Video provided by the Charleston Trident Association of Realtors.
Is the Charleston Real Estate Market Getting Better?
Tuesday, December 1st, 2009 at 10:35am. 128 Views, 1 Comments.
The Charleston real estate market has been in a slump for the past four years...When will this trend end?
Well, there is not going to be a clear-cut, definitive turnaround if you're looking for one. Real estate, which has traditionally been a solid investment, has been jittery (at best), right along with every other market. There isn't going to be a solid, radical change in direction in the Charleston real estate market in the immediate future. There are just too many foreclosures and short sales coming up on the market, which are still keeping home values down. While home values nearly doubled from 2000 to 2006, the average has fallen somewhere around 30% in most Charleston areas.
But are things getting better?
The Charleston real estate market has…
Real Estate Statistics for Downtown Charleston (The Peninsula)
Friday, November 20th, 2009 at 1:13pm. 116 Views, 1 Comments.
I have been showing a lot of property in downtown Charleston on the Peninsula lately, and have noticed things seem to be a bit slow. I was showing a property to some clients of mine and the listing agent had told me a surprising statistic. She mentioned that downtown Charleston, on the Peninsula, has seen an increase in the volume of homes selling for the last 3 years. She also mentioned that the Peninsula alone had a market entirely on it's own, outside of the rest of Charleston. While I agree with her that the Peninsula has it's own market independant of other Charleston areas, I was floored that the market on the Peninsula saw an increase for the last 3 years.
I decided to delve further into the MLS and find out for my self the performance of the…
A Few Good Changes in the Mortgage Industry Lately!
Thursday, October 8th, 2009 at 1:06pm. 231 Views, 3 Comments.
Yes, good news amid a slurry of seemingly bad news over the last year. It seems that banks were tightening more and more as the year went on, but now we have a some great news.
Here in Charleston SC, Carolina One Mortgage is offering some changes to mix things up. Condos and second homes now seem to be a little more affordable:
Condos: Up until now, you had to put down 10% towards a condo purchase. This has been shortened to 5%. If you’re buying a $200K condo, that’s $10,000 less that you’d have to put down! This is great news for first-time homebuyers who can still take advantage of the $8,000 tax credit.
Second Homes: Here again, up until now you had to put down 20% towards the purchase of a second home. Now you only need to put down 10%. So if…
Market Update for Charleston, SC Real Estate
Tuesday, September 29th, 2009 at 12:07pm. 230 Views, 3 Comments.
The expiration of the federal tax credit for first-time homebuyers still seems to be spurring activity in the Charleston market. Pending sales were up 23.8% in August, which marked the largest increase in pending sales since 2005.
There are fewer new listings on the market, with 1,583 new listings in August, which is a 6.8% decrease from last August 2008. This is great news, which means less housing inventory to absorb.
Prices are still in decline, showing a 5.2% drop from last August 2008. However; this is a smaller decline than seen in prior months, indicating that prices may be a little stronger...slightly.
Here are some visual market stats for you, taken from the Charleston MLS:
Good News, Pending Home Sales Up...Again
Wednesday, September 9th, 2009 at 9:20am. 308 Views, 1 Comments.
Good news in a sluggish economy- Pending homes sales increase. A NAR (National Association of Realtors) Pending Home Sales index reported more pending homes sales in July than in June. The NAR index, making its sixth straight increase, showed an increase of 3.2% in July, the quickest climb since the group starting tracking the market 10 years ago. This was up 12% from July's '08 level. This reading has far exceeded forecasts of economists that were surveyed. The first-time homebuyers tax credit is cited as the major reason for this trend. The NAR index also shows that the West out-performed the Northeast and Midwest, jumping over 12% in July, and that the South also did well.
This increase was much better than the 1.5% increase economists were…
New Home Sales up for June!
Tuesday, July 28th, 2009 at 9:00am. 168 Views, 2 Comments.
U.S. Commerce Department officials said Monday that new home sales jumped 11 percent last month. That’s better than analysts expected, and this marks the highest increase in 9 years for new homes. Expectations for last month were to have 360,000 sales, but luckily expectations were surpassed with 384,000.
The federal first-time homebuyer’s $8,000 tax credit and low interest rates have really helped to boost the somewhat struggling real estate market. Locally here in Charleston, June is typically one of the busiest months for the year, so any increase across the country is welcomed with open arms. This may help an otherwise potentially difficult winter. To see an increase like this across the country shows signs of growth and encouragement. David…
Carolina One Real Estate now #1 in Commercial Sales
Monday, July 20th, 2009 at 5:17pm. 194 Views, 0 Comments.
A long-term leader in the Charleston Real Estate market in residential sales, Carolina One is now on top for commercial sales as well. Closing 41 units since the beginning of 2008, Carolina One has now doubled its nearest competitor.
The broker of our commercial division has said that Carolina One has led Charleston, Dorchester, and Berkeley counties in the residential market since 1992, and has added commercial value over time, to get to where we are today. Carolina one is now leader in the market with a 25.1% market share, for those companies that sell residential and commercial real estate.
Since becoming an independent company apart from Prudential in May of 2008, Carolina One now has the flexibility to boost its competitive commercial efforts.
Charleston real estate “solds” for May
Tuesday, June 9th, 2009 at 9:31am. 112 Views, 0 Comments.
Let’s take a look at the “solds” for the different areas around Charleston for May. These are all single-family homes sold from May 1st through May 31st, 2009. I’ve taken this data directly from the Charleston MLS, so here they are:
5/1/09-5/31/09
Summerville (and rural): 133
West Ashley (and rural): 66
Goose Creek: 60
Mt. Pleasant: 57
North Charleston: 44
James Island: 34
Hanahan: 17
Downtown Charleston: 14
Johns Island: 14
Kiawah & Seabrook: 8
Isle of Palms: 6
Daniel Island: 5
Edisto Beach: 3
Folly Beach: 2
Sullivans Island: 0
Summerville and Goose Creek basically topped out all of the areas around Charleston. Those 3 areas have some really great homes for the dollar, and your money will go far since it is a little farther from downtown and the…
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