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!

Watch The Video

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...

Ready to get your home sold quickly by an expert?

Call the real estate pros at ChuckTown Homes Real Estate!

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...

Ever dream of building a custom home with no expense spared?

Want it in a gated country club neighborhood on the golf course?

Why wait!!!     All the work has been done for you!

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!

__________________...

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!

_______________________________________

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 ...

Ready to fall in love with Charleston Real Estate??? Call us today!

Ready to make Charleston SC real estate work for you?

Contact one of our buyer's agents today!

We previously reported how a shortage of inventory in the starter and trade-up home markets is driving prices up and causing bidding wars, creating a true seller’s market. At the same time, in the premium home market, an over-abundance of inventory has started to see prices come down and put buyers in the driver’s seat, creating the beginning of a buyer’s market.

Last week, the National Association of Realtors released their Existing Home Sales Report which shed some additional light on the impact of inventory levels on sales in each price range.

The chart below shows the year-over-year difference in sales at each price range.

The under $100K range has shown declines in rec...

• 95% of first-time homebuyers are willing to sacrifice to make homeownership a reality.
• The top item that buyers sacrifice is new clothes, at 54%.
• Even repeat or experienced buyers say they sacrificed taking a vacation or buying a new car to buy their last home.

Ready to make a sacrifice in your routine and invest in Charleston Real Estate?

Call the experts at ChuckTown Homes Real Estate today!

Some Highlights:

• After a surge in March, existing home sales and new home sales slowed due to a drop in inventory available for sale in the start-up and trade-up categories.
• Median existing home prices surged for the 62nd straight month, up 6.0% over last year to $244,800.
• New home prices slowed as builders have started to turn their focus toward single family, smaller homes.

Want to know how to compete in Charleston's multiple offer real estate environment? It all starts with a consultation with one of our exclusive buyer's representatives. Call us today!