How is The Real Estate Market Faring from 2011 to 2012 So Far?

This is a quick quarterly report with year to date Spring totals for 2012 compared to 2011 by area.

Worth noting:  the REO (Real Estate Owned, aka Foreclosure) closings are down from last year this same time by 30%. Closings are up 10% in Charleston county YTD while down 5% in Dorchester and flat in Berkeley County.  With the pendings up 30%, closings will catch up and with inventory falling, our local Charleston real estate market looks to be in recovery mode.

Let us know if you'd like a customized report for any particular area or Charleston neighborhood

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A Seabrook Island Foreclosure SOLD - What a Price!

What an incredible home for two of our very special clients from Charlotte. They initially had wanted a 'second home' to get away from the hustle and bustle work they do out of state, and had honed in on a few different areas of consideration in Mount Pleasant, Kiawah, and Seabrook Island. Well, Seabrook Island won and they found one heck of a deal (and a foreclosure in great condition!).

Our buyers were looking in the million dollar price range, and wanted a house which they could come to, and just "unwind". Seabrook Island fit the bill in a number of ways:

1. Seabrook Island is a beautiful location, 45 minutes to downtown Charleston, and an island community along the ocean.
2. It is a quiet destination with golf, tennis, horseback riding, and plenty of…

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Carolina One New Homes to Sell in Hibben- Belle Hall Plantation

March 26, 2012 - Charleston, SC - Carolina One New Homes has announced the signing of
an agreement with Plantation Partners to be the exclusive listing agent for retail lot and builder
sales at Hibben at Belle Hall Plantation.

Hibben at Belle Hall Plantation is located just inside Belle Hall Plantation on Long Point Road,
Mt. Pleasant and is easily accessed from Hwy. 17 North or I-526. Convenient to excellent
schools, shopping, beaches and medical facilities, Hibben at Belle Hall blends traditional
lowcountry living with the finest in contemporary materials and features to make homes more
efficient and durable.

Approximately 30 lots are available now with prices from the low $100's to the low $200's.
Some single family homes are also available from the low $500's…

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SOLD! Beachfront Home on Sullivans Island for 2.1 Million

Classic Sullivans Island Beach House

Some clients of mine just closed on this great oceanfront Sullivans Island beach house.  They got a fantastic deal, with me being able to negotiate the price down from 2.7 to 2.1 million.  That's $600,000 off of list price.

Here is the write-up of the home:

Classic OCEANFRONT Sullivan's Island beach cottage!! Extremely well maintained home situated on a 1/2 acre lot with a stunning ocean view!! A major highlight is the huge screened porch which covers the length of the house and has adjoining sundeck. Perfect for family and friends to enjoy the summertime fun! Large yard with plenty of room for a pool. Located on one of the most desirable spots on Sullivans. 4 bedrooms flank the open living room and dining rooms.…

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Is the Charleston Real Estate Market Normalizing?

Great News for Our Local Charleston Real Estate Market

This graph is terribly difficult to view, so PLEASE DOWNLOAD THE PDF HERE TO VIEW.  Let me first state that the average normal market sees a 6 month supply of homes on the market.  That means, with no new homes coming on the market- it would take 6 months for the current inventory of active homes to sell.

Basically, what this chart is showing is that there is a price range from $0 to $399,000 that have a 6 to 7 month inventory.  But I thought the real estate market in Charleston was gloomy?  That couldn't be further from the truth.  The market here is beginning to normalize.

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Adventure Harbor Tours - What Charleston Visitors AND Locals Are Doing

If you've lived in Charleston for long, you know that Morris Island is just another great Charleston experience.  This island is inaccessible by car, so you'll either have to take a boat to get there, or parachute out of a plane.  If parachuting isn't for you, then let me suggest Adventure Harbor Tours.

This is a good friend of mine's local business where he takes folks, families, you name it- to Morris Island which is located near Ft. Sumter and on the Charleston Harbor.  This is an exclusive stretch of beach that is mostly very quiet, and if you get there in the morning- you'll get first pick of all the shells.

What makes this adventure so intriguing are the explorations that Howard creates.  Howard has lived here all of his life, so he'll be able to…

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More Great Charleston Real Estate Statistics for the Past Few Years

Here is the Statistical Summary for 2011 MLS Tri-County Residential data.  The Tri-County report shows that the number of Closed Homes (8,953) increased 5.3% in 2011 compared to 2010, and increased by 11.7% compared to 2009.  At the same time, New Listings Taken has decreased by 16.3% over 2010. 

The Median Sales Price dropped from $189,215 in 2010, to the 2011 level of $183,000, or a 3.3% decrease.  The Median Sales Price, just 10 years ago in 2002, was $156,000 or a 17% increase in that time period.

I am also attaching the Housing Appreciation Supply & Demand for the past 10 years, which shows the number of New Listings Taken for each year as compared to the number of Homes Closed each year.  The graph shows, visually, when area real estate was a…

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Recent Sales in The Charleston Real Estate Market Are Up

Charleston Home Sales Up in Last 4 of 5 Months

Homes sales have increased vs last year in the latest Charleston statistical data.  This is great news for homeowners as this obviously means more buyer activity.  Not only that, but the existing number of active homes on the market have decreased once again- making for an even more healthy overall real estate market in Charleston.

The results could potentially be even better.  Don't forget that the Home Buyers Tax Credit expired last year in June, making for an abnormally high amount of sales for those number of months in 2010.

Number of active homes on the market are down (great), number of buyers purchasing in Charleston are up (great), but also keep an eye on home values.  I'm seeing some pockets in…

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Mount Pleasant Neighborhoods - What Are The Most Popular?

A Few Popular Mt. Pleasant Neighborhoods

Mount Pleasant continues to be one of the most popular areas surrounding Charleston. First of all, the location is ideal, bordering Downtown Historic Charleston, as well as Isle of Palms and Sullivans Island beaches. Second, it is one of the newly expanded areas surrounding Charleston that has seen much growth since the 90's. Most of the neighborhoods are planned communities with intelligent design, parks, golf courses, swimming pools, tennis, and plenty of other amenities. A few of the neighborhoods in Mount Pleasant even have their own schools and gyms. I'd like to expand on some of the more popular neighborhoods that a lot of buyers are enjoying:

Park West - This is the largest neighborhood in Mt. Pleasant. It…

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Early American Furnishings - Reclaimed Lumber to a Hope Chest - Lee Tigner

A True Craftsman in the Spotlight

A good friend of mine Lee Tigner, owner of Early American Furnishings, sent me a video about a woodworking contest he had recently entered.  This was for the 2011 Furniture Design Company furniture contest, in its 18th year.  He did not win; however, he received an honorable mention.  He is originally from Charleston, SC, and now resides in Dawsonville, Georgia, outside of Atlanta.  It amazes me what he is able to create using reclaimed old growth lumber, with the result being hand-made home furnishings.  I feel the work he is doing is a true trade that has long been forgotton.  I had to share with you folks.  This is true craftsmanship at its finest.

Sinker Cypress Hope Chest from Lee Tigner on Vimeo.

This…

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