Charleston Real Estate Market Blog

Last week Charleston set a new MLS record for properties going under contract with 542 properties in one week! This time of year, we typically see a seasonal slow down as families get ready for the start of school. The chart below shows the 2019 dip in home sales (blue line), and you can compare this year’s orange line. Also note the line showing the start of the COVID 19 concern when Charleston home sales dipped before going back up.

2020 charleston housing market

Last week saw a 77% increase in sales over the same week last year (to put this into perspective, this is the largest year over year increase we’ve seen in a single week). Quite simply, Charleston is seeing its best housing market on record despite COVID 19 as buyers are relocating from larger cities, having more

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Home buyers gravitate towards Mount Pleasant when they’re relocating to Charleston and comparing suburbs because of the fantastic public schools, upscale atmosphere, and tons of shopping and entertainment options. Most Mount Pleasant neighborhoods offer amenities like pool and tennis, and these can be harder to find in West Ashley, James Island, or Downtown neighborhoods. I’ve come to specialize in Mount Pleasant real estate during my 15 years in this career because the area sells itself. When I’m driving my clients around giving them a tour, Mt. Pleasant stands out and is usually where they end up buying at this price point.

For buyers looking $500K and higher, Dunes West is consistently a top pick. (Also check out Carolina Park, I’On, and both

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Buying a home in Mount Pleasant priced under $400K has become increasingly difficult in the past few years. Although the inventory in this price bracket has shrunk drastically, there'ss still a huge demand from home buyers who want to live in this hot real estate market with some of the best public schools in Charleston, fantastic shopping, and upscale neighborhoods. If you find yourself sorting through few listings as you search the Charleston MLS, here are some pointers to give you more affordable options to consider:

Condos and Townhouses are the Most Affordable Homes

mt pleasant home priced under 400

As buyers look to lower their maintenance and costs, condos and especially townhouses have become more popular. Mount Pleasant condos generally come with no yards but sometimes

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Selling real estate can be a tough job, and it's much tougher when our clients don't listen to the advice we offer. Whether you're going to be buying or selling a home in the near future, please educate yourself on these suggestions we find ourselves making weekly!

For Home Buyers

what your realtor wishes you knew

The market is probably stronger than you think. Despite constant news headlines, social media articles, and blogs like this one, many Charleston South Carolina home buyers don't realize just how strong our market is. Especially if they're coming from another part of the state or country, it takes some time (and perhaps missed opportunities) before they're brought up to speed. Brand new listings might require a full priced offer depending on the area or neighborhood.

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When you sell your home, you pay the same amount of commission regardless of the listing agent you choose. It's important to find the best listing agent possible because your agent can negotiate a higher sales price, smooth over appraisal and inspection issues, reduce your liability, and make the entire process much smoother for you. So if you have the choice between an agent who's fresh out of real estate school or an agent with a proven track record, it should be a no brainer as to which one you should hire. With 14 years of experience selling homes in Charleston, I've put together a list of the most important questions to ask and also the answers I would look for if I were in your shoes.

hiring a listing agent to sell your home

Question: How long have you worked in real estate here?

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curb appeal for selling

So you've found the perfect listing agent to sell your home, decided on list price, and signed your paperwork. Now what? Many sellers think their work is mostly done at this point. However, it's crucial to get your home show ready before the photos are taken for your listing (and certainly before your first showing)!

After showing well over a thousand homes to buyers in the Charleston South Carolina real estate market, we've gotten pretty good at gauging buyer feedback and predicting what are both the selling points and the turn offs for a listing since we hear some of the same comments again and again. These tend to be the most common problem areas for listings:

    • Curb appeal matters: You'd be amazed at how many times I've pulled up to a
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what to look for in a listing agent

Even in the strong sellers' market we're experiencing right now, some listings sit on the market for far too long and create a stigma that leaves buyers asking "Why hasn't this home sold?" or "What's wrong with this house?" Or, on the other end of the spectrum, some hot new listings sell within a day or two leaving the sellers wondering whether they could have gotten more money. A good real estate agent can help prevent both of these scenarios.

How to Choose the Right Listing Agent

When choosing a Charleston SC listing agent, here are some hallmarks to look for to ensure you're hiring the right person. Your listing agent should:

  • Offer professional photographs and a virtual tour. Simply put, better photographs help create more showings.
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low ball offer in real estate

If you're looking to purchase a home in one of the few remaining buyers' markets across the country, you should talk with your Realtor to see how far below listing price your initial offer should be. He/she will be able to pull comps for your market to determine how low of an offer you can negotiate.

However, most markets in the United States have done a full pendulum swing from the 2008 to 2012 downturn and are now very strong sellers' markets. Charleston South Carolina is a great example for discussion. In real estate markets like Charleston, the best listings are going under contract within 24 or 48 hours of being listed. In higher price points or less demanded suburbs, this can take up to a week or two.

When sellers' markets see such a low

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condos versus townhouses

Condos and townhouses are the most affordable options for buying real estate since developers can build more of these per acre compared to detached, single family houses. When we talk with home buyers, they’re often confused about the difference between condos and townhouses. We’ve included below some important distinctions between the two types of property along with a checklist that should help you choose which option is right for you!

Condos: The Lowest Maintenance Home Possible

Many buyers compare condos to apartment living because paying bills is all that’s required. By definition, condos have no individual land ownership associated with them. In other words, a homeowner would own the unit itself. All of the common areas have shared

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Savvy home buyers understand that purchasing a home costs significantly more than the final offer a seller accepts. If you are a first time home buyer, you might be tempted to stretch your budget to its limits in order to obtain the house of your dreams. However, this decision can set you on a path leading to a mortgage payment that you might struggle to afford.

buying a home on a budget

Leaving a sizable buffer between what you can afford for a home and what you pay for a home is a wise home-buying strategy. Added on top of the price of the home are the closing costs, attorney's fees, and lender's fees. Approximately 3-5% of the purchase price is added for closing costs and lender's fees, which can include loan application and credit report fees, property appraisal costs,

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