Category: Johns Island
As we evaluate the final quarter of 2016 (so far), not much has changed since the year began. Market predictions have been, in a word, predictable. A relatively comfortable pace of activity has been maintained thanks to continuing low unemployment and mortgage rates. The one basic drag on market acceleration has been inventory decline, and there is little to indicate that the low inventory situation will resolve anytime soon.
Market Stats through October 2016
As anticipated at the outset of the year, demand has remained high through the first three quarters of 2016, propping up sales and prices despite heavy reductions in inventory and months of supply across the country. With rental prices and employment opportunities in a consistent climb, year-over-year increases in home buying are probable for the rest of the year but not guaranteed.
Market Stats through September 2016
Charleston-area home sales increased in August after dipping for the first time in five years in July. Conventional wisdom indicates that year-over-year declines may be present for the remainder of the year, given the low inventory situation in most markets. Demand is certainly present and has created competitive situations that have kept prices up. Rental prices are also up, which may lure more toward home ownership.
Market Stats through August 2016
According to preliminary data released by the Charleston Trident Association of Realtors®, there has been a 2.8% decrease in sales volume and 1.5% growth in median price, comparing last July to this July. Inventory has declined by 22% over the last 12-month period, with 5,335 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) as of July 31.
“The sales dip can be attributed to several factors. The current lack of inventory is certainly a major reason. Over the last 3 years, sales have peaked in June and this year is no exception,” said 2016 CTAR President Michael Sally. “The year-to-date numbers are strong, and a sign of steady growth. We should see similar, sustainable numbers over the next few months.”
Market Stats through July 2016
With an interest rate increase still in the cards this year, combined with the American political landscape and global economic events, a cooldown could occur by winter. Presently, however, summery growth prevails as many locales are reaching near-record prices not seen in more than a decade.- According to Charleston Trident Association of Realtors
Market Stats through May 2016
Every quarter of 2016, we will print a new version of the Charleston Coast Buyers Guide with updated dunes properties listings and information about the different communities along the Charleston Coast. The 3rd Quarter issue has been delivered to our offices and is also available in digital flipbook form HERE on our website!
Market Stats through May 2016
dunes properties is pleased to announce the addition of three agents to our family of experienced, professional Realtors®. Danny Hughes has joined our Mount Pleasant Team. Taylor Tillman has been added to our historic downtown office, The Real Estate Studio and Russell Buhrer has joined our office at Bohicket Marina, which serves the areas of Kiawah, Seabrook, Johns and Wadmalaw Islands.
A lifelong resident of Mount Pleasant, Danny Hughes knows the Charleston area like few others. In 1997 Danny became one of the first residents in the community of Daniel Island, where he lives with his wife, Pamela, and their English Springer, Abigail. During his 40+ year career with the SPAWAR, Danny conducted a number of real estate transactions on his own behalf, and now dedicates himself full time to providing that expertise to his clients. Danny can be reached at email@example.com or 843.200.9164.
A hometown girl, Taylor Tillman grew up with a love for the Lowcountry. Before recently making the transition to real estate, Taylor previously worked for Roper St. Francis Healthcare as a medical assistant, where she offered exceptional care and developed a keen interest in people. Taylor can be reached at firstname.lastname@example.org or 843.437.6369.
A native of Annapolis, Maryland, Russell Buhrer first began coming to Charleston in the early 2000s. He grew up vacationing and spending summers on Kiawah Island with his family. He has recently co-founded a real estate solutions and investment company in addition to joining our Kiawah/Seabrook office. Russell can be reached at email@example.com or 443.995.4620.