Charleston Real Estate Market Update: Busiest Jan-Feb Ever!
The Charleston, SC real estate market continues to outperform other markets in the region!
January and February 2015 were the best Jan/Feb ever!
Back in 2007, we had 2 weeks in Jan/Feb with over 300 residential properties going under contract, and that was the only time that this had ever happened until this year. In 2015, 5 of the first 8 weeks of the year had over 300 properties go under contract.
This could shape up to be the best year ever for Charleston real estate. Prices are rising steadily, but appreciation appears to be more sustainable this time.
So far, every purchaser needs to have good credit and jump through a lot of hoops to get a loan.
It’s a solid seller’s market and there are multiple offers everywhere.
There are rumors about a new major international manufacturer moving to the area later this year. Boeing is still growing with no end in sight, and it’s bringing a lot of peripheral businesses with it. Employment is growing, Charleston is booming. We’re no longer a hidden gem.
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The following chart shows the analysis of properties under contract by week and year.