January 2013

Carolina Park in Mount Pleasant is proud to introduce Ryland Homes into this new community. Ryland Homes is one the nation’s leading new construction builders and have been around for decades. They offer a combination of quality, award winning floor plans, detailed architecture, and value that is sure to meet the needs of the Mount Pleasant real estate market’s savviest buyers. Carolina Park is a master planned community that sits amongst 1,700 acres along with Wando High School and the new Mount Pleasant Roper St. Francis Hospital. Once the community is finished, over 1,700 families will be able to call Carolina Park their new home.

Egret’s Landing is a subsection of Carolina Park currently being built by Ryland Homes. Egret’s Landing floor plans

Get in touch with your artistic side this winter! Since Charleston has a longstanding appreciation for the arts, you’ll find plenty of local events to choose from. Here are just a few:

• Easel on the Edge: Friday, Feb. 1, at 7 PM. Price: $50/couple. Bring a friend or significant other. Students will each paint separate canvases that combine to create a unique masterpiece. Located at The Grill on the Edge, 41 Center St., Folly Beach
• Charleston Symphony Orchestra presents Mozart and Mendelssohn, Young Geniuses: Friday, Feb. 8, at 7:30 PM, Price: $35, $20/student. Tragedy followed the composers featured on this program; however, both were prolific writers during their short lives. Both pieces featured in this concert were written early in their

If you’re looking for a beautiful new construction home in Mt. Pleasant, the Pleasant Grove section in Carolina Park may have what you are searching for. Carolina Park is a master planned community with plenty of amenities, and it is located off Highway 17S (just north of Park West). It’s near Mount Pleasant Roper Hospital and is within walking distance to Wando High School. Downtown Charleston is about 30 minutes away, and the beach is only a 15 minute drive. There are many grocery stores, shops, and three golf courses within a 5 minute drive from Carolina Park.

Pleasant Grove is one of the first subsections in Carolina Park to be built. Pricing for Pleasant Grove begins at approximately $339K and goes up to about $426K (which is slightly above the

The Tributary is a new construction subsection of Rivertowne in Mount Pleasant, SC. The homes are located on either side of Rivertowne Parkway. Rivertowne is located off Highway 41 across from the Dunes West entrance. Just outside of the community is a newly built Harris Teeter shopping center with a neighborhood pub that is within walking distance. Carolina One Real Estate is representing the builder of the neighborhood, FrontDoor Communities. Currently, there are 3 and 4 bedroom homes from approximately 2,000 to 3,100 square feet. Base prices begin around $380K and go up to approximately $475K in this first phase. Homeowners Association Dues are $765 per year to Rivertowne which includes use of the pool, tennis, and dock. Also, $40 annually will be

Dunes West is a gated golf community that is one of the most desirable to live in Mount Pleasant. Dunes West is one of the largest subdivisions in the area with subsections of single family homes, townhomes, and condos. Known throughout the Charleston area for its luxurious amenities, Dunes West offers a golf course designed by Arthur Hills, a pool for families and two lap pools, tennis courts with a tennis pro, club house, community dock, boat ramp, boat storage, play park, fitness center, and walking trails. No wonder Dunes West is consistently a top choice among home buyers – you won’t find a neighborhood in Mt. Pleasant with nicer amenities or more options to choose from! The homes for sale in Dunes West are mostly zoned for Charles Pinckney

The warm weather hasn’t stopped Charleston from the many oyster roasts we generally see this time of year! This list below is just a sampling of some of the ones coming up:

• Preservation Society Membership Oyster Roast: Saturday, Jan. 26, from 2-5 PM. Stroll the grounds and tour Fenwick Hall, a circa 1730 brick plantation house. Guests can also enjoy local oysters, chili, and hot dogs with all the fixings by Charleston Bay Gourmet. Daniel Island Grill will be serving beer and wine, and there will be live music by the V-Tones. Ticket price includes a one-year introductory membership to those new to Preservation Society. Fenwick Hall is located at 1709 River Road on Johns Island. www.preservationsociety.org
• Charleston Crab House Charity Oyster Roast:

When looking at the MLS statistics for the Charleston SC real estate market as a whole, we’re seeing positive trends when we compare 2012 to 2011. This past year saw a 14% increase in the number of homes closed (from 8,992 to 10,215), a 5% increase in the median sales price (from $183,000 to $192,970), and also a 6% increase in the average price per square foot (from $117/sq ft to $124/ sq ft).

If we focus on specific markets for Charleston’s real estate, we see that Charleston County has had a 20% increase in the number of homes closed (from 4,982 to 5,985) and a 4% increase in the median sales price (from $219,900 to $228,000). Now let’s look at some of the specific MLS areas for Charleston County:

• West Ashley inside 526: 33% increase in homes

Here is the second installment of our Charleston SC real estate market update for the last quarter of 2012. Let’s now look at absorption rates by area and price range. When you look at these numbers, keep in mind that while parts of Charleston have reverted back to a strong sellers’ market, others have seen very few closings in the past several months. So when we’re asked, “How is Charleston’s real estate market?” the answer is that it completely depends on what area and price you will be considering.

The MLS statistics show a sellers’ market in these areas and price ranges:

• Under $250K: West Ashley, James Island, Johns Island, Folly Beach, Wadmalaw, Mt. Pleasant, Downtown Charleston (inside the Crosstown), Summerville, Hanahan, Goose Creek (the

The tri-county MLS statistics are in for the last 3 months of 2012, and we’ll be doing a series of blogs so that we can focus on several trends that we’re seeing in the Charleston real estate market. First, let’s look at the Charleston real estate market as a whole – in other words, all 3 counties – before we break down these stats by area. The absorption rate for the entire Charleston area is based on a rule that if no homes were to be listed for sale, it would take 5 months for the current inventory of homes to sell (this is known as a sellers’ market). If there is a 5 to 7 month supply of homes for sale, it is a balanced market. A buyers’ market would take 8 to 12 months to sell all of the listed homes. If it takes more than 12 months to sell the

Since we’ve gotten a lot of questions about mortgages recently, we wanted to get you all of the info you’ll need to finance buying a home in Charleston, SC. Over the past few weeks, interest rates have fluctuated between 3.25% and 3.65%. Right now for a 30 year fixed rate conventional loan, rates are running about 3.375%. I’ve included below the contact info for our in-house loan officer. Whether you’re ready to buy and lock in these low rates – or if you simply need to figure out what price range of homes you should be browsing – feel free to contact Joel. In the 10 years of real estate we’ve had, Joel has by far been the best loan officer we’ve worked with.

Joel Greer with Carolina One Mortgage

Office phone: 843-414-2489

Whether you choose to