The Charleston Real Estate Market is On Fire!
2014 was a tremendous year for real estate in Charleston. We sold over 13,500 homes with a median sales price of $222,000 (the graph shows the 12-month rolling average for sales in the last 3 years). That was a 7.4% increase in transactions over 2013, which was also a great year. And the median sales price was the highest ever for the Charleston area, a 5.7% increase over the median price in 2013.
[Our team almost doubled our sales from 2013 to 2014, and we are now in the Top 2% in sales for the Charleston MLS. Our average Sold/List Price Ratio was 97.21% in 2014, compared to the MLS average of 91.93%]
Short sales and foreclosures are now a very small part of the market here. New construction of course is on the rise and is a major competition for sellers in some specific markets like Mount Pleasant North of IOP Connector. The peninsula of Charleston and the surrounding suburbs of Mt Pleasant, James Island, West Ashley, and Johns Island continue to do extremely well due to their proximity to downtown and the beaches.
Summerville and Goose Creek are very popular because of the lower prices. Daniel Island has become a popular spot for Boeing executives and sales and very good there. Park Circle in North Charleston has become a popular place to buy rental investment property because of the proximity to Boeing.
And 2015 is shaping up to be even better! Real estate sales tend to drop off in January and February (seasonal), but not so this year. There are plenty of buyers out there and we are putting record numbers of homes under contract each week.
Wish to sell your home quickly and for Top Market Price? Call Alan on 843-864-3777 to schedule an appointment.