Those of us who live in Charleston always consider ourselves lucky. There are so many wonderful advantages to being in such a serene environment that is rich in both historical significance and natural beauty. From the real estate perspective, Charleston’s market remained a strong draw long after other parts of the country were deeply embroiled in the housing market crisis. But as time passed it was inevitable that we would see our market slow, the inventory swell, the prices take a natural decline. When folks visiting our downtown Studio have asked our agents about the area market, I have heard words like “softened”, “slowed”, or personal my favorite, “unhurried” which I believe is a genteel, Southern way of saying “not moving quickly and requiring more time than is usual or expected”. While it’s true that in the South we generally prefer things at a more languid pace, this definitely does not apply to our real estate markets.
So it’s a very good thing that an article by M. Anthony Carr posted yesterday in RealtyTimes indicates that our market is poised for a quick recovery. It seems that CTAR has reported some interesting changes in inventory and median sales prices over the past month that have market followers very optimistic. For more information, read the full article HERE.