Isle of Palms Office

1400 Palm Boulevard Ste. M
Isle of Palms, SC 29451
843.886.5600

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Folly Beach Office

31 Center Street
Folly Beach, SC 29439
843.588.3800

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Dunes Downtown

11 Fulton Street
Charleston, SC 29401
843.722.5618

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Kiawah Seabrook Office

1887 Andell Bluff Boulevard
Johns Island, SC 29455
843.768.9800

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835 Coleman Blvd Ste. 200
Mount Pleasant, SC 29464
843.881.5600

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Tag: charleston real estate

Market Statistics Through July 2016

Charleston Area Real Estate News July 2016According 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

Charleston Area Market Statistics Through June 2016

Market Stats graphic June

Halfway through 2016, residential real estate markets are performing as predicted at the beginning of the year. Sales and prices have been going up in most areas, while the number of homes for sale and total months’ supply of inventory have been going down. Meanwhile, many sellers have been getting a higher percentage of their asking price, and supply continues to struggle to meet demand. The message may be repetitive, but it is largely positive.
New Listings – up 1.3%. Pending Sales – up 17.9%.  Inventory – down 22.2% Median Sales Price – up 4.2%. Days on Market -down 5.2%. Months Supply of Inventory – down 32.7%.

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

Charleston Area Market Statistics Through May 2016

Charleston Area Real Estate NewsWe are in the thick of an exciting period of home buying and selling, often with quick multiple offers that are near, at or even above asking price, depending on the factors of the home and submarket in question. It was widely predicted that we would see healthy sales activity during the second quarter of 2016, and the market has not disappointed.
New Listings were up 3.9 percent to 2,212. Pending Sales increased 26.0 percent to 1,960. Inventory shrank 22.3 percent to 5,230 units. Prices moved higher as Median Sales Price was up 4.0 percent to $244,305. Days on Market decreased 7.9 percent to 58 days. Months Supply of Inventory was down 34.0 percent to 3.5 months, indicating that demand increased relative to supply.
Although inventory is still being stretched thin in many areas, low mortgage rates coupled with higher wages have built a relatively sturdy housing marketplace. How long that can continue without fresh supply remains an important question, but conditions are seemingly good enough for serious buyers. With the current slow state of new construction for non-rental households, the road ahead could be tricky if demand remains high.- According to Charleston Trident Association of Realtors

Market Stats through May 2016

Charleston Area Market Statistics Through March 2016

BlackbirdNational housing trends, like the steady rise in home prices and decline in inventory, should certainly be observed with care, but tracking wider economic conditions is also necessary. Employment figures are positive, wages are going up and employers are hiring.  Buyers want to get into the market, but unlike the rising-price sales environment of ten years ago, people are not diving headlong into risky mortgages or uncomfortable situations. This carefulness should be celebrated, not feared.
The Charleston market is definitely booming. New Listings were up 8.6 percent. Pending Sales increased 24.8. But overall Inventory shrank 20.2 percent. Demand is present but an abundance of choice is not. Prices moved higher as Median Sales Price was up 5.6 percent and Days on Market decreased 10.8 percent. Months Supply of Inventory was down 32.7 percent to 3.5 months.
Consumers seem to be holding for the right deal, even in the face of extremely low mortgage rates. As seller and builder confidence increases, we should see more activity in Q2 2016. The second quarter tends to rank as the best time to list a home for sale. – According to Charleston Trident Association of Realtors

Market Stats through March 2016

Charleston Area Market Statistics Through February 2016

iStock_000024405439_LargeInventory Keeps Charleston Residential Real Estate Market Tight; Prices And Sales Continue To Grow

1,088 homes sold in February in the region at a median price of $236,484 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). In February 2015, 1,012 homes sold at a median price of $212,500. This data reflects a 7.5% increase in sales volume and 11% growth in median price, comparing last February to this February.

Year-to-date figures show 2,054 homes sold in 2016 at a median price of $227,750 in the region. Comparing 2015 figures to 2016 thus far, year-to-date sales volume has increased 7.6% and median price has grown by 7.7%.

Inventory has declined by 21% over the last 12-month period, with 5,055 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) as of March 10.

Charleston Area Market Statistics through February 2016

Two Great Downtown Charleston Properties Under $500,000

We are currently listing two great downtown Charleston properties for sale under $500,000 at The Real Estate Studio.  Downtown properties are moving very quickly so you do not want to miss the opportunity to check these out!

1306 Hester Charleston in Wagener Terrace

1306 Hester Street is a cute updated bungalow in the Wagener Terrace neighborhood, just blocks from one of the hottest areas in town. The home has a great open floor plan, with entertaining space on one side, and the bedrooms on the other for privacy.  The property features 3 bedrooms, 1 bathroom, 1547 square feet, an added sunroom, fenced in yard and beautiful hardwood floors.  Listed at $389,000, this property will not last long!  Click to see photos and interactive floorplan.

For more information contact listing agent Kristin Walker.

30 Mary St Unit 1 Charleston in Wraggborough

30 Mary Street is the perfect location for a downtown pied a terre in the heart of the museum district, near Marion Square, Charleston School of Law, and new developments on Upper King as well as walking distance to nearby Wragg Mall. This 1Bedroom/1Bath condo, has high ceilings, plantation shutters, off street parking, gated entryway, lots of large windows, beautiful hardwood floors, granite counter tops and stainless appliances. The best part of this home is the shared front porch with haint blue ceiling and beautiful architectural details with a gorgeous streetscape looking straight down Elizabeth Street.  Listed for $324,900, this condo could be yours!

For more information contact listing agent Vannessa Carter.

Charleston City Council Approved 4,500 Residential Development

Last night, City Council members deliberated on the proposal of a 4,500 residential development in the Bees Ferry area of West Ashley. According to William Joy of WCSC, The Long Savannah Project was approved and will cover 3,000 acres, 1,200 of which will be used for homes and 400,000 square feet will be used for retail and office space. Long Savannah Project

The approval of this major residential project is great news for the people who live in West Ashley, myself being one of them. The community is really hoping this area is going to be revamped and this project should show everyone that West Ashley is on track to developing for people that are moving to the area.

Traffic studies done on this project show that the entire area will be gridlocked, along Bees Ferry and Glenn McConnell (didn’t the Bees Ferry construction just end?!), but this should be a small price to pay for the major development.The project was originally approved in 2007, but was foreclosed on. We should expect to see around 500 homes in the next two years and the entire project to be complete in the next 20.

First Quarter Real Estate Update

Charleston Trident Association of Realtors puts out quarterly video updates on the real estate market.  It’s quick and informative so check it out!

Sales are up 8.2% from last 2010’s first quarter’s end, prices experienced a  6.1% dip.  We’ve posted year over year gains, increasing sales, unemployment is declinging, we’ve had 13 consecutive months of private job growth and all this is cause for optimism. 

[youtube=http://youtu.be/JVW5WzfUGZ0]

Featured Property: 366 Woodland Shores Road, James Island

Looking for a wonderful home close to both Downtown Charleston and the BEACH? This is a great 3 bedroom, 2 bath home with a beautiful, large yard that is ideal for outdoor entertaining.  The charming Craftsman style cottage has been beautifully maintained and features  a sun-filled kitchen, remodeled baths, large bedrooms with spacious closets, and a sunroom. There is currently a fantastic workshop in the two and a half car garage and a huge barn offers additional storage.  If you want to be in a fantastic neighborhood that is close to both Charleston and Folly Beach, we invite you to visit 366 Woodland Shores Road.

[youtube=http://www.youtube.com/watch?v=nxBuvsdmzHg]

For more information, contact:

Joy Millar – 843.425.2816 or  jmillar@dunesproperties.com

$195,000 Folly Beach Condo For Sale

Marsh Winds condominium

  • 3 Bedroom, 3 bath
  • 1,392 Sq. ft.
  • Marsh View condo on tidal creek

 

Spectacular views of marsh and tidal creek and only 500 feet from public boat landing. This unit comes with covered parking for two cars plus a boat underneath and an additional storage space! This is the best maintained unit I have seen in Marsh Winds, and it has all the bells and whistles including gleaming hardwood floors, ceramic tiled bathrooms, custom paint throughout and tile countertops, bar and backsplash in the kitchen. You get to enjoy the amazing views from almost every room in this end unit which is right outside the elevator as you arrive on the first floor. Two sets of atrium doors lead from the living room and the master bedroom onto the full length screened porch outside. Light and airy open floor plan just makes you want to sit and stare at the views. Absolutely pristine condition! Walk or ride your bike across the bridge to the restaurants and shopping on Center St., go fishing at the Folly Beach Fishing Pier, take a dip in the Atlantic Ocean or just take your towel and bask in the sun on the beach.

 

 

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