4 Trumbo Street, a Downtown Charleston Single, for only $550,000

So much has been written in the last week about the recent rise in home sales for the Charleston area.  The local news publications and stations all covered the 7% increase (compared to September 2008) with a cautiously optimistic outlook. The first sentence of the Post and Courier article declares “Charleston has finally hit a streak of strong home sales,” but the article goes on to clarify that the first-time home buyers tax credit, which will expire at the end of November, could have bolstered the sales. The Charleston Regional Business Journal agrees. But by all accounts, including the most recent posts on this blog, the news is promising and the current climate is still ripe for savvy buyers.

Downtown, at The Real Estate Studio, many of our walk-in guests are curious specifically about the Charleston peninsula inside the Crosstown.  We have a great customized software program in the Studio that allows our guests to immediately view all Charleston listings in seconds on our 50″ plasma monitors.  It makes searching the available properties inside the Crosstown (or in any specific area) a breeze.  If you’re not in the downtown area, simply visit our website to search.

Here are the most recent market statistics for downtown Charleston inside the Crosstown:

• There were 16 residential closings in Charleston inside the Crosstown in September, 2009 versus 9 in September a year ago.

• Through September, 2009 there have been 160 closings inside the Crosstown versus 233 last year.

• The price of the average residential sale through September was $834,722 versus $858,197 last year. That is a 2.8% decrease, the second time we have not seen an increase this year. These are macro numbers dependent on the products sold.

(stats courtesy of Dave Landry, davelandry116@mindspring.com)

Clearly this market is stronger than the US real estate market in general. This is a good time to buy real estate.  There is a good level of inventory, sellers are motivated, and the interest rates are still low.  If you’re in the Charleston area, stop by The Real Estate Studio, downtown at 214 King Street, to check out the best deals inside the Crosstown… or anywhere on the Charleston Coast.