Charleston Real Estate Market Blog

You might have heard that Charleston was recently ranked #1 by Travel + Leisure in their World’s Best Cities list. Last year it was ranked #2 in this list (and was also their #1 Best City in North America). Factors in their most recent list included: history, culture, cuisine, and a unique blend of antiquity and modernity.

Every year, Charleston seems to be added to yet another ranking as one of the top places to visit and to live in the country. Here's a sample showing some of the most recent:

• For 3 years in a row Condé Nast Traveler voted Charleston, SC the #1 city in the United States.
• Charleston always bodes well with Southern Living, which has named it Best Southern City and Most Mannerly City, among others.
• AARP has rated our city

Charleston, SC is a large enough city to support a varied job market, numerous parks and recreation complexes, a great health care system, and some of the best public and private schools in South Carolina. You'll find lots of festivals and annual events every month such as the Cooper River Bridge Run, Family Circle Cup tennis tournament, Spoleto arts festival, the Southeastern Wildlife Expo, and the Charleston Food + Wine Festival.

For sports fans, Charleston has a minor league baseball team (the Riverdogs), a professional soccer team (the Battery), and a professional hockey team (the Stingrays) - not to mention the college sports teams at College of Charleston, the Citadel, and Charleston Southern. You’ll also find great rec leagues where amateur

So you’ve found the perfect home to buy and are getting ready to make an offer with your Realtor. She explains to you that you’ll need to include an earnest money deposit with your contract to purchase, and this amount is usually 1% of the offer price. Before pulling out your checkbook, you should understand that this deposit will go towards the amount you pay at closing. In South Carolina, this money sits in an escrow account, usually with your Realtor’s company, until the closing is ready to take place. However, there are 3 ways you can lose this money (meaning the seller gets to keep the entire amount). Pay attention so that you can ensure every dollar comes back to you on closing day!

Your Offer Included No Contingencies

A real estate

With so few new construction homes on James Island, we wanted buyers to know that there are still 13 homes remaining of the original 49 lots in Fleming Park. These single family houses are built exclusively by Ashton Woods which has recently become one of the biggest privately held builders in the U.S. You might recognize their work from Freeman’s Point on James Island, Riverview Farms on Johns Island, Darrell Creek in Mt. Pleasant, Daniel Island Park, and Strawberry Station in Moncks Corner.

Fleming Park on James Island offers convenient access to Downtown Charleston. A 5 to 10 minute drive (with just 2 traffic lights) is ideal for commuters who work on the Peninsula or plan to commute via the James Island Connector. So many of our clients want to

If you’ve checked out the latest Charleston real estate statistics, you’ve seen that last year was one of the strongest years in our metro’s recorded history. Although the average home lasted 58 days on the market before it went under contract, the listings that are most desirable often go under contract within just a few days for full list price. The homes in Charleston that sell the fastest are: priced well from the start, in good condition, newer, located closer to Downtown Charleston and the beaches, and zoned for good public schools.

Most buyers don’t realize how fast paced the market is now, especially if they’re relocating from another part of the country where it’s a more balanced market. Charleston currently has one of the strongest

Here’s a glimpse into the Charleston real estate market year to date. These MLS stats compare the market this year to 2015, and numbers are pulled as of June 30 for all areas in the MLS:

• Closed home sales have increased by 8.7%.
• Median sales price is up by 5.73% (was $225,000 in 2015 and is now $237,900). Keep in mind that this is for the entire MLS, so individual areas will vary.
• New listings have gone up 4.4%. This means there are actually more listings to choose from now compared to a year ago even though most areas of Charleston are seeing a shortage of homes for sale compared to the demand.
• The absorption rate for the entire MLS has decreased by 19.96%. This absorption rate shows us how long the current inventory would last if no

As one of Charleston’s smallest suburbs, Hanahan can be a hard area to find new construction homes. Its more centralized location makes it convenient for buyers who think that Summerville and Goose Creek are too far out from Downtown Charleston and the beaches. Commuters wanting good access to Interstate 26 or 526 tend to also like Hanahan’s location. Plus, residents have lots of shopping and restaurant options within a 5-10 minute drive.

Buyers looking in the $200-400K price range will find fully upgraded, new construction homes in the more affordable Hanahan community. Compared to the square footage and finishes offered in pricier suburbs like Mt. Pleasant or James Island, these buyers often choose Hanahan because they can build their dream home

With school getting out for the summer, we thought we’d include some of the best kid friendly spots in Charleston in addition to your usual home listing update. Whether you’re looking to exercise, educate, or just entertain the little ones, here are some fun options to check out:

• Spoleto Festival USA and the smaller, more localized Piccolo Spoleto are currently underway until June 12. Most people associate Spoleto with adult performing arts, but you’ll find plenty of children’s events, too. Your kids might enjoy the Youth Music Series where choirs and steel drum bands from local schools perform (most of these events are free). Also, check out the Children’s Programs at the Library, Concerts in Parks, and the Sand Sculpting Competition.
• The

You don’t have to be a mortgage guru to save money on your next home purchase. We’ve put together this list of lesser known facts and tips so that you can gleam some of the best advice we’ve learned in our 12+ years of real estate experience!

• You don’t need a 20% down payment to eliminate PMI. Private Mortgage Insurance generally costs $65-256 per month. In order to reduce their monthly costs, many buyers try to put down 20% or more to eliminate PMI. However, if you don’t have that much cash to put down, you can opt for a single premium option where you pay a one time amount (and never have to make that PMI payment again). Over the life of the loan, this route usually costs 1/3 of the total amount compared to making the old fashioned monthly

According to the National Association of Realtors, millennials make up 31% of home buyers. This group of buyers could make up a substantially larger percentage over the next year. We’ve put together these quick tips specifically with millennial home buyers in mind:

• Resale is especially important since this will probably not be your forever home: Think of real estate as an investment. Chances are that you’ll sell this home and buy another one that’s larger or in a different area within 5 to 7 years. You’ll want your home to appreciate as much as possible so that it will sell easily (and for a good profit) when the time comes.
• Financing might be harder than you think: When you know that purchasing a home is in your near future, go ahead and