Is the Charleston Real Estate Market Normalizing?
Posted by Mike Ciucci on
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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Circa 1850, 52 Smith Street is enviably located in the heart of Harleston Village on the corner of Smith and Montague Streets. Over the past five years, the interior and exterior of this home have been meticulously renovated and restored offering all of the modern amenities while preserving its traditional style and grace. Natural light fills the grand interiors of the home, accenting the original heart pine floors and beautiful architectural…
estate market, foreclosures and short sales comprise anywhere between 25 and 35% of the total market. In some areas of Charleston, those numbers can even be higher. With fall coming up, and winter right around the corner, the pressure is on for banks to unload these bank owned properties and get them sold.
PROPERTY DESCRIPTION: This classic Old Village cottage is practically new as almost everything is new down to the studs. The kitchen is new with granite, cabinets and stainless. The baths are redone with top end cabinets and new tile and fixtures. All the hardwoods have been impeccably refinished and the exterior has hardiplank siding, new windows, roof and it’s all a short walk to the Charleston Harbor, Old Village parks, the Mount…
When was the last time you saw a waterfront residence on the Intracoastal Waterway where you didn’t need flood insurance? Well this is certainly the exception. I saw this deepwater property yesterday and felt compelled enough to share it with all of you.
Wow, what a house- and what a unique opportunity to live on deepwater in West Ashley with your own private lake. That's right, 19.34 acres (2.53 acres high) of your own private property, which includes a 4.01 private lake, and access to deepwater on the Ashley River once a dock is built.
Many people who consider Charleston, South Carolina as a retirement destination or a possible move with a job transfer sometimes feel overwhelmed with the number of options available. Each area that surrounds Charleston has its own unique character, charm, and feel about it. I am excluding the beaches this go-around, but I’d like to briefly explain some of the areas that surround Charleston, in hopes that it might make it a little easier for those from out of state:
