Charleston Real Estate Market Blog

Owning a historic home is just one of the many reasons people move to Charleston. Known for its variety of architecture types, the city is also overflowing with opportunities to buy historic homes whether you want a plantation home or something a little simpler as found in the French Quarter. With its rich history and vibrant culture, you don't want to miss our on Charleston Real Estate and the history associated with it. 

In the city, there are some locations that have more desirable historic properties than others due to walkability, nearby sites and attractions, and proximity to the water. These areas include:

South of Broad

This is where history began in the city. A neighborhood of stately historic homes, you’ll find beautiful homes in

Charleston is home to a variety of waterfront properties from ocean view to beachfront, shallow water, deep water, marsh front, and tidal creek. Homes with waterfront views and easy beach access are the most expensive in the area, but they boast a location that can’t be beat.

Waterfront Properties in the City

Charleston is well known for having some of the best boating on the eastern seaboard, and deep water homes are in high demand. The majority of these homes are situated on the one of the city’s three rivers that feed into the harbor: Ashley, Wando, and Cooper. Many of these homes not only offer spectacular views, but also feature private boat lifts and docks.

Just west of the Ashley River is home to some of Charleston’s premiere

Charleston architectural styles are diverse and exciting. This thriving city offers styles ranging from Georgian to Italian. In total, there are nine styles that encompass most of the real estate in the city:

• Colonial: Few windows and a low foundation are the two main characteristics of these homes from the 1600s and 1700s.
• Georgian: Raised basements and boxed chimneys are associated with the Georgian architectural type.
• Federal: Fan lights, balconies and staircases are all traits of the federal style which appeared after the Revolutionary War.
• Gothic Revival: Often associated with a “castle look,” the Gothic Revival look can be seen on many exteriors in the city.
• Plantation: Beautiful, elaborate homes. The plantation home showcases

Ready to retire? Many retirees are finding that Charleston, South Carolina has the perfect mix of affordability and fun for the graceful retiree. Not only is the state swelling with historical homes, but the median home price in the area is just $203,000.

Climate

Not as hot as Florida yet much milder winters than Maine or New Jersey, South Carolina has mild winters and warm summers. Coastal areas are much better in terms of winter temperatures with 60 degrees being the average during the winter and nights dropping to 38 degrees.

Snowfall in the state is very minimal with many years recording no snowfall. The exception will be near the Blue Ridge Mountains, which averages 12 inches of snow per year.

Taxes

Keep more money in your pocket.

These MLS statistics show Charleston’s housing market performance for January through September of 2014. Most areas of Charleston in the under $250K price range are a strong sellers’ market with an average 3 month absorption rate. In other words, if no new listings were to come onto the market, it would take only 3 months to sell the current inventory based on the rate of homes selling. The hottest markets like James Island, Mt. Pleasant, and Daniel Island have a 1 to 2 month absorption rate.

The $250-500K price range also indicates a sellers’ market with an average 4 month absorption rate. In price ranges higher than $500K, the area determines whether it is a buyers’ or sellers’ market.

In terms of supply and demand, this chart helps to give a

DR Horton is currently building new construction homes in the Park Place subsection of Park West. This will be a very small section located on Larch Lane (which stems off Bessemer Road). Prices are currently starting in the low $400’s for a 4 bedroom house sized around 2600 square feet.

Homeowners in Park Place will be able to enjoy all of the Park West amenities including 2 swimming pools, a club house, volleyball and tennis courts, kids’ park, and plenty of green spaces and walking trails. Park West is one of the largest neighborhoods in all of Charleston and offers a grocery store, retail/commercial spaces, the Town of Mt. Pleasant Recreation Complex, and even 3 public schools within its perimeter.

DR Horton is one of the largest home builders

In a decade that saw enormous real estate appreciation and also a historic slow down, it’s important for buyers and current homeowners to take a step back and consider large scale trends in our Charleston real estate market. This final chart compares the median sales price in 2004 to 2013 and gives the percentage of appreciation for each of the main areas.

Because we work with a lot of local real estate investors (and invest in the market ourselves), we know that real estate offers one of the highest returns on investment over a long period of time. This is partly because of its leveraging power. For example, let’s say that an investor has $30,000 in cash and is weighing the options of stocks, real estate, mutual funds, etc. If he or she were to put

So far this year, 6,093 homes have closed on the Charleston MLS with an additional 3,284 homes under contract. As Charleston real estate agents, we couldn’t be busier with this strong sellers’ market known for its multiple offer situations and relatively low inventory of homes for sale.

First, let’s look at MLS activity broken down by area. These stats are from January through May of 2014.

Keep in mind that for Days on Market, this time clock starts the day the home is listed and stops the day of closing (so it includes the 30 to 45 days that it generally takes once the contract is ratified until it gets to the closing table).

Right now the best homes in the most popular areas are often getting ratified contracts within a week or two of getting

The local builder Hunter Quinn Homes just announced pricing for their next project, The Park at Rivers Edge. Construction has started for 10 townhouses in the Lakeshire subsection of the neighborhood with prices starting at $129,900. Home buyers have 4 floor plans to choose from – all of which offer an open living space on the first floor with bedrooms on the second floor. Square footage ranges from 1534 to 1674, with 2.5 baths and 2-3 bedrooms.

All of these town homes will include covered back porches and outdoor storage rooms, which are the kinds of features that make home buyers often prefer townhouses over condos. Optional features include fully fenced backyards and screened porches – ideal for buyers who have pets or are looking for privacy.

As the weather and water warm up in Charleston, it’s the perfect time of year to experience our fantastic waterways!

• Sailing Classes: The Ocean Sailing Academy offers classes for beginners and more experienced boaters. Its prime location makes it a great way to experience sailing on the Charleston Harbor! www.charlestonsailingacademy.com/
• Kayak and Paddleboard Tours: Coastal Expeditions has several locations throughout Charleston including Shem Creek, Folly Creek, Isle of Palms, and Bulls Island. www.coastalexpeditions.com/
• Ferry Rides and Eco Tours: If you’re looking for a less active water experience, these laid back options may be more your pace. Coastal Expeditions works in partnership with the Cape Romain National Wildlife Refuge and the