Charleston SC Real Estate- A Tale of Two Markets

Our Takeaways:

• 
  An emerging trend for some time now has been the difference between available inventory and demand in the premium and luxury markets and that in the starter and trade-up markets and what those differences are doing to prices!
• 
  Inventory continues to rise in the luxury and premium home markets which is causing prices to cool.
• 
  Demand continues to rise with lower-than-normal inventory levels in the starter and trade-up home markets, causing prices to rise on a year-over-year basis for 80 consecutive months.
• It's a great time to shop for Premium real estate in Charleston!

Further Proof It’s NOT 2008 All Over Again in Charleston

Home sales numbers are leveling off, the rate of price appreciation has slowed to more historically normal averages, and inventory is finally increasing. We are headed into a more normal housing market.

However, some are seeing these adjustments as red flags and are suggesting that we are headed back to the same challenges we experienced in 2008. Today, let’s look at one set of statistics that prove the current market is nothing like the one that preceded the housing crash last decade.

The previous bubble was partially caused by unhealthy levels of mortgage debt. New purchasers were putting down the minimum down payment, resultin...

 

There are many unsubstantiated theories about what is happening with Charleston home prices. From those who are worried that prices are falling (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion.

However, the increase in prices is easily explained by the theory of supply & demand. Whenever there is a limited supply of an item that is in high demand, prices increase. It is that simple. In real estate, it takes a six-month supply of existing salable inventory to maintain pr...

Charleston Housing Market: Another Gigantic Difference Between 2008 and 2018


Some are attempting to compare the current housing market to the market leading up to the “boom and bust” that we experienced a decade ago. They look at price appreciation and conclude that we are on a similar trajectory, speeding toward another housing crisis.

However, there is a major difference between the two markets. Last decade, while demand was being artificially created by extremely loose lending standards, a tremendous amount of inventory was coming to the market to satisfy that demand. Below is a graph of the inventory of homes available for sale leading up to the 2008 crash.

A normal Charleston ma...

With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years.
Rates are projected to climb to 5.1% by this time next year according to Freddie Mac.
The impact your interest rate makes on your monthly mortgage cost is significant!
Lock in a low rate now while you can!

Ready to find out how to make it happen? Speak with the Charleston real Estate Experts at ChuckTown Homes Real Estate today!

On the real estate front, the number of transactions year to date is almost the exact same as last year. However, the median sales price is up 7.2% over the same period to an all time high of $265k. That’s a pretty heady number. The last couple of years have seen more modest gains of around 4%. Many people are asking if this is the warning of another bubble. But remember, real estate doesn’t ever really go down.

Well it did once, in 2008. But that was an anomaly. There was a good reason for that and it was nationwide. Don’t expect prices to go down again. Economies go into recession and this causes real estate to go flat. Sometimes you may see your real estate value stay co...

We hear many crazy excuses from buyers about why they are putting off buying a home in Mount Pleasant, Summerville, James Island, or West Ashley all the time.

Well- a lot of them are myths!

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8644 Scottish Troon Court
North Charleston, SC

MLS# 18001036 - Residential

Gorgeous custom estate on the golf course in Coosaw Creek Country Club! No expense spared on this one year old executive home. Raised slab foundation, premium lumber 2x6 framing, pre wired for generator with ATS, spray foam insulation, Carrier Infinity system, custom cabinetry- top of the line construction quality. Random width walnut floors greet you behind the custom mahogany and iron front door. Beyond the foyer lies a generous home office and powder room with custom live edge slab vanity. Around the corner is the wine room- with custom wine cellar, built in beer coolers, and a b...

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What your agent failed to tell you.

Do we even have a marketing plan?

Moving up Is MORE Affordable Now Than Almost Any Other Time in 40 Years


If you are considering selling your current home, to either move up to a larger home or into a home in an area in Charleston SC that better suits your current family needs, great news was just revealed.

Last week, Trulia posted a blog, Not Your Father’s Housing Market, which examined home affordability over the last 40+ years (1975-2016). Their research revealed that:

“Nationally, homes are just about the most affordable they’ve been in the last 40 years… the median household could afford a home 1.5 times more expensive than the median home price. In 1980, the median household could only afford about 3/4 of the med...

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Presenting 8644 Scottish Troon Court, North Charleston SC 29420

Gorgeous custom estate on the golf course in Coosaw Creek Country Club!

No expense spared on this one year old executive home. Raised slab foundation, premium lumber 2x6 framing, pre wired for generator with ATS, spray foam insulation, Carrier Infinity system, custom cabinetry- top of the line construction quality.

Random width walnut floors greet you behind the custom mahogany and iron front door. Beyond the foye...

What do Charleston real estate buyers look for in 2018?

Want to find the best strategy for selling your Charleston home in 2018?

Call in the listing experts at ChuckTown Homes Real Estate and find out how we helped almost 400 families in 2017 sell their home.

Our advice is always honest and always free!

Want to see our plan?

https://www.chucktownhomes.com/chucktown-homes-creative-marketing-plan.html

Why should you sell your Charleston real estate this winter??

Some Highlights:

• Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available!
• 
  Housing inventory is still under the 6-month supply needed to sustain a normal housing market.
• 
  Perhaps the time has come for you and your family to move on and start living the life you desire.

Ready to sell your Charleston or Mt. Pleasant home and move on with life?

Take advantage of the favorable 2018 market and serious winter buyers.

Call ChuckTown Homes Real Estate today!

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There are many unsubstantiated theories as to why Charleston and Summerville home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion.

However, the increase in prices is easily explained by the theory of supply & demand. Whenever there is a limited supply of an item that is in high demand, prices increase.

It is that simple. In real estate, it takes a six-m...

Ready to find out how to buy Charleston Real Estate?

Call the experts at ChuckTown Homes Real Estate today!

Ready to buy real estate in Charleston's hot market?

You need a professional on your side! Call ChuckTown Homes today!

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Charleston Real Estate Market trends for July 2017:

It was another very busy buying week.

All areas did very well with the exception of peninsula areas 51,52.

James Island is now regularly seeing median $/sqft prices over $200/sqft.

It's become very difficult to find anything on James Island for under $250k.

Mt Pleasant has been doing this for a very long time.

It's very difficult to find anything in Mt Pleasant for under $300k.

West Ashley is consistently seeing prices over $150/sqft.

It's very difficult to find anything in West Ashley for under $200k.

The Goose Creek/Moncks Corner areas have gotten a big boost from Volvo.

Prices in ...

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