Market Statistics inside the Crosstown
• There were 17 residential closings in Charleston inside the Crosstown in January, 2010, versus 14 in January 2009.
• In January, 2010 sales were $11.8 million versus $16.8 million last year.
• The price of the average residential sale in January was $693,788 versus $1,199,318 last year.
• In January, 2010 4 of the 17 sales were for over $1 million; a year ago 7 of the 14 sales were for over $1 million.
Clearly this market is stronger than the US real estate market in general. This is a still a good time to buy real estate. There is a good level of inventory, sellers are motivated, and interest rates are still low. And there is more:
Forbes magazine named Charleston as the eighth smartest city in the WORLD.
Charleston is one of five cities on Moody’s list of real estate markets most likely to rebound in 2010.
South Carolina is ranked number 7 among the top entrepreneur-friendly states by the Small Business and Entrepreneurship Council.
Boeing is coming.
- David B. Landry
Certified Real Estate Consultant