Charleston Area Market Stats thru August (and other news)
“The booming U.S. housing market has spilled over to the rental market, which has seen demand for apartment and single-family rentals skyrocket this year, as high sales prices and an inadequate supply of available housing have forced many prospective buyers to rent for the foreseeable future. Increased demand for housing, along with an improving economy, has competition for rental units soaring, and landlords are taking note, with the national median rent increasing 11.4% in 2021 so far, according to Apartment List. In new construction, home builders continue to struggle to meet buyer demand, as housing starts nationwide dropped 7% last month, according to the Commerce Department. Single-family home construction declined 4.5%, and multi-family home construction, which includes condos and apartment buildings, was also down, falling by 13%. Labor shortages, rising material costs, and supply-chain setbacks continue to challenge builders, with some projects temporarily paused due to availability and cost of materials.” ~ Charleston Trident Association of REALTORS® (CTAR)
Market Statistics by Area:
Closed Sales +1.5% | Median Sales Price +13.6% | Months Supply -56.5%
247 Saltgrass Court, Kiawah Island
4 beds, 4.5 baths, 3300 sq ft | Offered for $2,200,000
Spectacular views of the Kiawah River abound from this architectural beauty featuring floor-to-ceiling windows in the open living area, and a multi-tiered deck for entertaining spanning the exterior. Situated on a quiet cul-de-sac, this 4 bedroom, 4.5 bath home is conveniently located with easy access to the beach and all other on-island and off-island activities. Other notable features include a wood burning fireplace and high ceilings in the living room, beautiful hardwood flooring throughout, Sonos sound system both inside and outdoors, a “river pebble” finished concrete driveway, professional landscape lighting, central vacuum system and more. For more information on this one of a kind home, visit bit.ly/247SaltgrassCt.