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Around Charleston

3 1/2 Maranda Holmes New Construction Update

By | Around Charleston

This week we take a look at 3 1/2 Maranda Holmes street new construction properties in Charleston’s Westside neighborhood just South of Hampton Park. The properties feature an open floor-plan with 3 large bedrooms/3 full/1 half-bath and attractive aluminum-clad windows, whichprovide an abundance of natural light. Unit B is One of 4 homes nestled on a quiet side street just South of Hampton Park and The Citadel.

You can take a look at the full listing for 3 1/2 Maranda Holmes Street here: 3 1/2 Maranda Holmes MLS Listing

Charleston Real Estate Current vs. Future Prices

By | Around Charleston

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Charleston Real Estate Price Predictions

Why People are falling for Charleston

By now it seems that everyone knows about Charleston. Whether it’s because the city keeps winning awards like the “Best City in The World” by Travel + Leisure or because Charleston and South Carolina have one of the lowest jobless rates in the country. Where there are jobs, media exposure, a rich history combined with scenic views and great people, it’s hard to make an argument against it. All of these factors have combined to make Charleston’s real estate some of most sought after in the country.

Looking at the real estate data over the last 2 months and comparing it to what is currently under contract, it’s possible to gain an idea of where the Charleston real estate market is heading in the immediate future. Although the market is moving towards the traditionally slower season, there are encouraging signs that point to a healthy market and rising property values in specific areas in Charleston.

The numbers…

The chart below is an attempt to look at where prices are going in the immediate future. It compares the last 2 months of sales to what is currently under contract(AC/P). What is currently under contract seems to represent roughly the next 2 months of sales. It assumes that those properties under contract will sell for 95% of their current LIST price.

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Future price prediction chart provided by Doug Holmes, an analyst at charlestonrealestatestats.com.

The farthest column to the right, “probable % change in price”, shows James Island gaining  11.2% from $269k to close to $300k in the next two months and Daniel Island gaining over 12% from $611k to $686k. One thing to note is that James Island sold 200 homes compared to Daniel Island’s 68. Since there were more than twice the number of homes sold on James Island, that price prediction is much more reliable.

North Charleston, Mt. Pleasant, the Charleston peninsula (south of crosstown), and outlying areas are still in demand, but are projected to increase between just 2.5% and 4.5%. According to this data, the biggest decline will be the Charleston peninsula north of the crosstown which is projected to decrease close to 11%. Keep in mind that this area sold the least amount of homes at 54,  which is the smallest sample size in this data set making it the least reliable.

Bottom line

Overall sales activity in the Charleston real estate market is still very strong, especially for this time of year. Many listings are still receiving multiple offers as buyers are still aggressively pursuing newer listings. Just last week there were 344 properties under contract including 13 listed at over $1 million in the Charleston MLS. However, sales activity is expected to slowly decline as winter approaches which is typically the slowest time for most markets. Shoppers with more flexible timelines can still find deals during the off-season as sellers who missed making deals during the peak season may settle for less rather than risk waiting another 6 months.

If you are wondering how much your Charleston home is worth, wondering when the best time to list is, or just have questions about the buying or selling process. Contact me today! Everyone’s situation is different which makes it imperative to consult with a real estate professional about your specific options. Feel free to call or email me anytime:

Matt Anderson
[email protected]
(843) 437-8386

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419 King Street, Mount Pleasant, SC MLS# 16018442

419 King Street, Mount Pleasant, SC 29464

By | Around Charleston

419 King Street, Mount Pleasant, SC 29464

Just Listed: 419 King Street, Mount Pleasant, SC 29464

419 King Street, Mount Pleasant is a spectacular custom built home located in the heart of Old Mount Pleasant. This well appointed home features an open floorplan with top of the line fits & finishes throughout. As you enter, the large living room features shiplap walls with gas fireplace, recessed lighting, and 9 foot + ceilings. The kitchen features a large island, porcelian farm sink, gas range w/ hood, custom cabinetry, subway tile backsplash, and Carrera marble countertops. There are hardwood floors throughout the first floor and a spacious laundry area. The master suite features his/her walk-in closets, dual vanities, freestanding tub, and large tile shower. The second floor also has 2 additional bedrooms with a Jack & Jill full bathroom. The third floor has one additional bedroom and full bathroom.

The backyard offers privacy with a nice deck, full landscaping, and a nice wood privacy fence. Walk, bike or take a golf cart to the Pitt Street Bridge, the restaurants/bars at Shem Creek or drop the kids off at Moultrie Middle/Mt. Pleasant Academy. Downtown and the beach at Sullivans Island are just a short drive away. Don’t miss your opportunity to preview this turn-key home and enjoy all that Old Mount Pleasant has to offer!

419 King Street, Mount Pleasant List Price: $775,000


Sub-Type: Single Family Detached
Area: 42 – Mt Pleasant S of IOP Connector
County: Charleston
Tax District: 21 – Mt. Pleasant
Bedrooms: 4
Baths – Total: 3.5
Baths – Full: 3
Baths – Half: 1
Stories: 3

419 King Street, Mount Pleasant location

Have questions about 419 King Street, Mount Pleasant? Contact me today:

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The Most Popular Real Estate In Charleston

By | Around Charleston

most popular real estate in Charleston

Last week there was a 16.5% jump in Charleston real estate activity as the total number of properties under contract per week crossed the 400 mark. This will be the 10th time this year that we have crossed 400 properties under contract per week. In contrast, 2015 managed 400+ contingent properties just 4 times the entire year. 

Most Popular Real Estate In Charleston Last Week

Overall there were 401 properties under contract up from 344 the week before. The most popular real estate in Charleston last week in terms of total numbers was the Summerville/ Ladson areas followed by Hanahan/Goose Creek and then Mt. Pleasant and West Ashley. All areas had a good week with the exception of Johns Island.

the most popular real estate in charleston this week

Although Summerville, Ladson, Hanahan and other outlying areas had an especially good week, Mt. Pleasant continues to be the most popular real estate in Charleston in terms of total sales. Specifically, the area north of the Isle of Palms Connector has been the hottest area in all of Charleston. From January through May there have been a total of 589 homes sold in this area. The area south of the Isle of Palms Connector has also been especially high, selling 486 properties over the same period. In addition, both of these areas’ median sales price is up over 5% on average compared to 2015.

Most Popular Real Estate In Charleston Overall

the most popular real estate in charleston this year

After Mt. Pleasant, the most popular real estate in Charleston is the Hanahan, Goose Creek, and Monks Corner areas. Because of the wide area of these districts, this is to be somewhat expected. Johns Island is up close to 20% in total sales and up 9% in median sales price compared to last year and areas around North Charleston are up over 23% in total sales. Overall, the entire Charleston market is up 15.8% in total sales compared to the same time last year. The combined median sales price for all areas is up from $239,000 in 2015 to $248,000 this year, which represents a 3.8% increase.

If you’re wondering how much your Charleston home is worth in today’s market you can get a free, instant home valuation at our sister site: www.charlestonlisting.com. If you just have questions about the buying or selling process, please contact me directly and I would be happy to answer all of your questions.

Email: [email protected]

Phone: (843) 437-8386

Matt Anderson

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6923 Tanner Hall Blvd Hanahan, South Carolina 29410 (MLS# 1422626)

Current Price Per Square Foot In Charleston

By | Around Charleston

6923 Tanner Hall Blvd Hanahan, South Carolina 29410 (MLS# 1422626)

Price Per Square Foot In Charleston By Area

Determining the correct price per square foot is important for both buyers and sellers because it is a standard measure that is used throughout the process of buying a home from price comparisons and lending process, to home inspections, to insurance. The price per square foot in Charleston has steadily risen over the past year, although different areas changed at different rates based on demand and other factors.

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Compared to the median price per square foot in 2015, James Island increased from $164/sqft to $191/sqft as of June 2016 which represents an increase of 16.4%. James Island lead the pack for biggest change in this specific group analysis. Mount Pleasant was the most popular area in Charleston for buyers in 2015. Prices were hovering just under $200/sqft last year while this year that area is looking at prices around the $220/sqft and significantly higher in specific neigborhoods. North Charleston, Summerville and West Ashley saw modest gains as well, albeit at a slower rate. They increased around 2-5% to around $100/sqft.

Price Per Square Foot In Charleston (Downtown, Island & Beaches)

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Compared to the median price per square foot in 2015, the Kiawah/Seabrook areas increased 22.5% from $265/sqft to $343/sqft as of June 2016. Folly beach increased almost 22% to $330/sqft. Isle of Palms and Sullivans Island saw very little change in price per square foot as homes in those areas saw less demand compared to the islands to the south of Charleston. The Charleston peninsula inside the crosstown increased over 18% compared to the median price per square foot in 2015 despite a spotty sales year. Note: this area has a small sample size and is susceptible to skewing.

Charleston Real Estate Market Summary

Last year was the first time the Charleston real estate market ever had over 400 properties go under contract in a week. It happened 4 different weeks last year. That’s already happened 8 times so far this year. Prices seem to be ramping up, but the facts show that closed median sales price is only up 5.3% year to date over the same period last year.

We’re now up to $237k for a median sales price for the whole tri-county area. However, closer investigation shows 9 specific MLS areas up over 10% in median sales prices. Buying demand is high with a 7.1% rise in the number of transactions year to date over the same period from last year. We’re on track to sell over 16k homes this year and possibly be one of the top 2 best selling years ever.

We’re in a deep sellers market with less than 4 months of inventory(MOI) overall. However, 12 of our 32 MLS areas have less than 3.5 MOI. Competition among buyers is scary with multiple offers flying left and right and many buyers having to pay full list price. And sellers aren’t negotiating much when the home inspection is done. Mt Pleasant continues to be the most popular area in all of Charleston, but a bit pricey with a median approaching $200/sqft. The more price conscious can buy great new homes with hardwood floors and granite counters in the Summerville and Goose Creek areas for around $100/sqft. Boeing and Volvo and the digital/software companies continue to bring lots of new people to Charleston. It’s getting a little crazy, but it’s still an awesome place to live.

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Sold! 20 Dunneman Ave. and 11 Marion St.

By | Around Charleston

​Sold! ​20 Dunnemann Ave. in Wagener Terrace

Sold! ​20 Dunnemann Ave. in Wagener Terrace​. 4 bedroom/2 bath 2,400 square foot duplex currently leased at $4,000/month. This was an investment property sold to an out of town investor client. Purchase price: $500,000.

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Sold!  11 Marion St. in Radcliffeborough

Sold!  11 Marion St. in Radcliffeborough.  3 bedroom/2 bath 1,500 square foot Charleston single style home with large backyard area.  Had the pleasure of representing the Buyer and Seller in this off-market transaction. Purchase price: $595,000 .

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With low inventory, heavy competition, and increasing home prices off-market sales are becoming more frequent. Contact us today for other off- market primary residence and investment opportunities.

Matt Anderson

(843) 437-8386

[email protected]

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