At The Real Estate Studio, the downtown location of Dunes Properties at 214 King Street, we’ve noticed that even with the chillier weather and sagging economic outlook, people have been coming in to search Charleston area real estate. This marks a noticeable change from recent months when the pronounced slowing of the national market seemed to be permeating our local market as well. Charleston was able to fare a bit better than some other communities across the nation because of her unique beauty and undeniable appeal. This is a desirable destination with historic charm and modern convenience. But even with her strong appeal, Charleston’s market has been showing the undeniable signs of economic recession. So yes, our numbers are down, but we have consistently been ahead of the national averages and we are repeatedly listed as one of the top cities in the country in which to live.
Today, on the day when Barack Obama was inaugurated the 44th president of the United States, the country seems not only ready for the campaign-promised “change” but in the deepest need of it in decades. It seems as though the very timely idea of “change” is resonating around the country, and we are feeling it as a fresh new crop of potential buyers stop by the Studio to look at real estate.
It’s too early to tell what specifically is going to happen with the real estate market in 2009, but one thing is certain. There will always be change. Change is inevitable, but if our experience tells us anything, it’s that folks want to live in Charleston. People come here for a visit and stay for a lifetime. We hear it all the time at The Real Estate Studio- things like “we just got here 2 days ago and already we know that we want to retire here” or “we’ve been coming here for years on vacation and have decided to relocate here permanently.” What we say to those visitors is “there’s never been a better time to buy.” Prices are conservative, inventory is up, and interest rates are historically low. It is a decidedly advantageous position for savvy buyers.
So as we welcome a new president and a new era in our country’s history, we look forward to the changes they will bring. Our future will surely hold more economic ups and downs, and our real estate market will react accordingly. But as Charlestonians, we must also look to the things that don’t change. We live in a world-class city, rich in history, preservation, and culture that has survived hurricanes, famine, earthquake, fire, and war. She not only survives, but thrives. People are drawn to the Charleston Coast, and lucky for us Nobody Knows the Charleston Coast Better® than Dunes Properties of Charleston.