If Charleston has a trophy room for the city’s awards, accolades and titles, it will need a major expansion or perhaps a relocation to a large warehouse after these past few years. Earlier this year, Charleston took home the title “best small city in America” thanks to the readers of Condé Nast Traveler. Charleston has won “best city” 5 years in a row now.
In October, Charleston’s own Bulldog Tours in historic downtown won best ghost tour in the country in USA Today’s 10Best by virtue of the long, spooky history of the old jail, historic graveyards and gardens within the city proper.
Now, Charleston has been spotted on another top-10 list. Forbes has ranked Charleston as the second hottest real estate market to watch in 2016. Forbes explains that Charleston has the 6th highest job growth rate in the country which moved it into the second position behind Grand Rapids, Michigan.
This shouldn’t come as too much of a surprise since the Charleston real estate market has had a historical year, breaking activity records and exhibiting above average sales in the traditionally slower seasons. Sales are up over 14% compared to this same time last year and median sales prices are up over 10% in many areas around Charleston. Our market is on pace to have the third busiest year on record selling over 15,000 total homes in 2015.
Looking ahead to 2016, the momentum is expected to carry forward. As more people move to the area for employment thanks to Boeing, Mercedes and Volvo, demand for housing will continue to rise. Furthermore, homeowners who have been on the fence about selling in the past now have recouped the value they lost in the recession. With all of these factors culminating together, this spring could be one of the busiest we have seen.
If you are thinking about selling your Charleston home or just have questions about the buying or selling process, contact me directly to discuss your options or visit our sister site CharlestonListing.com for free home valuation based on current market conditions in Charleston not a broad national average like Zillow or Trulia.
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