Reading the national news about real estate can cause buyers to wait for the market to bottom out before buying. The problem is that like the stock market, when the bottom is identified, prices are already going up! The national picture does NOT hold true for local markets. In fact, in the Charleston real estate market sales vary from North Charleston to Summerville to West Ashley to Mt. Pleasant! The December 2009 results show that in Charleston County the number of transaction increased by 31% and the average sales price increased by 6% over December 2008.
If you are looking for a single family detached home in Mt. Pleasant, now might be a great time to buy. Interest rates are low, prices are still moderate and inventory is good. Buyers are looking for homes that have at least 1800sf of living space with no more than 4 bedrooms and 3 baths. If that meets your overall specifications you have approximately 366 homes below $800,000. Thats a lot of homes to consider!