Category Archives: Real Estate (Market info)

This Category features Charleston area market data and information

05/27/2014 · 3:33 pm

Charleston Market -Under Contract; Quick, Quick, Quick!

The statistical data is looking good for the Charleston area and as a Realtor, first hand, we are seeing more showings, more inquiries, and our listings are SELLING QUICKLY!

Real Estate is HYPER-LOCAL so you need to understand the unique characteristics of your neighborhood, your property and your competition. But with the right marketing for your specific property and area, you could MAKE A MOVE this Spring ….And possible QUICKLY!

TWO RECENT EXAMPLES

104 Trickle Dr—MLS# 1413138 -Bradford Chase –Summerville – UNDER CONTRACT in 3 DAYS!

8556 Royal Palms Ln-MLS# 1413168 Indigo Palms—N Charleston –UNDER CONTRACT in 12 DAYS!

Leave a comment

Filed under Real Estate (Market info)

05/26/2014 · 11:12 am

National Association Of Realtors; Sales UP, Prices UP, Inventory UP & Distressed Sales Down!

National Association of Realtors latest report indicate that National Home Sales are Up, Prices are UP, Listing Inventory is UP and Distressed sales are decreasing!

If you are considering buying or selling a home, Contact me, Id love to help! Gena Glaze

Leave a comment

Filed under Real Estate (Market info)

05/17/2014 · 9:17 am

Sales and Median Price up in Charleston Area – S.C. Real Estate

The number of homes sold and their median price was up last month in the Charleston region compared with April 2013.

In April, 1,143 homes were sold at a median price of $215,000, according to preliminary data released by theCharleston Trident Association of Realtors. Last April, 1,028 homes sold at a median price of $200,000. In March, 1,120 homes sold at a median price of $219,066, the association said.

Home sales, median price up in Charleston region Inventory also increased slightly in April to 5,994 homes listed as “active” in the Charleston Trident Multiple Listing Service, according to the association.

“The local market is continuing to see a sustainable increase in sales and price, which is a positive sign as the traditional buying season gets into full swing,” Charleston Trident Association of Realtors President Corwyn Melette said in a statement. “Mortgage rates have declined to a six-month low, which means buyers can still make the house they want a financially viable option in spite of the rising median price.”

In Berkeley County, 222 homes sold last month for a median price of $176,000. The northern part of the county — bordered by Jedburg Road, Highway 17A and College Park — was the most active area with 60 sales at a median price of $161,750, the association said.

Leave a comment

Filed under Real Estate (Market info)

05/12/2014 · 3:37 pm

Charleston Area Population -Where Do The People Come From?

Tri-County Area Population – Approximately, 29,600 people move to The Charleston area each year from other states. Where do they come from?

The Top Seven States

Approximately 24,700 people move away from the Charleston area, to other states, each year. They are also more likely to move to one of these top 7 states.

From Other S.C. Counties

The Charleston Area also receives residents from other areas of South Carolina each year. The five counties that send the largest number of people to the Charleston area, are;

Residents in Motion

Each year, an estimated 16,000 people move to another county within the Charleston metro area.

Leave a comment

Filed under Places, Real Estate (Market info), Stories, News & Events

05/05/2014 · 12:27 pm

Sell Your Home this Spring! – 3 Reasons WHY!

Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are three of those reasons.

1. Demand is about to skyrocket

Most people realize that the housing market is hottest from April through June. The most serious buyers are well aware of this and, for that reason, come out in early spring in order to beat the heavy competition. We also have a pent-up demand as many buyers pushed off their home search this winter because of extreme weather. Sellers in markets where seasonal weather is never an issue must realize that buyers relocating to their region will increase dramatically this spring as these purchasers finally decide to escape the freezing temperatures of the winters in the north.

These buyers are ready, willing and able to buy…and are in the market right now!

2. There Is Less Competition – For Now

Housing supply always grows from the spring through the early summer. Also, there has been a growing desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners have seen a return to positive equity as prices increased over the last eighteen months. Many of these homes will be coming to the market in the near future.

The choices buyers have will continue to increase over the next few months. Don’t wait until all the other potential sellers in your market put their homes up for sale.

3. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by approximately 4% this year and 8% by the end of 2015. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with an interest rate at about 4.5% right now. Freddie Mac projects rates to be 5.1% by this time next year and 5.7% by the fourth quarter of 2015.

Moving up to a new home will be less expensive this spring than later this year or next year.

*From The KCM Crew

Leave a comment

Filed under Real Estate (Market info), Stories, News & Events

04/22/2014 · 11:43 am

Year To Date Stats – Charleston Area Real Estate- Up, Up, Up!

REAL ESTATE MARKET UPDATE

Charleston SC – Berkeley, Dorchester and Charleston Counties

We are off to a good start! The first Quarter of 2014 statistics show a great improvement over 2013 and a dramatic improvement from just two years ago (see chart showing 2014 vs 2012). We have come so far!

Listing Inventory is beginning to rise, buying activity is strong…Looks like we are going to have a HOT Spring Market!

CLOSED HOMES UP 8.4 %

CLOSED VOLUME ($) UP 18.3%

MEDIAN SALES PRICE UP 13.7%

AVERAGE SALES PRICE 9%

Click Statistic Documents Below to Enlarge.

Leave a comment

Filed under Real Estate (Market info)

04/17/2014 · 11:59 pm

REAL ESTATE; THIS SPRING WILL BE DIFFERENT

Every spring the housing market blossoms as buyers come out ready to purchase their dream house. This spring, we believe we are going to see the strongest purchasing market we have seen in a decade.

Why are we so bullish on the housing market this spring? Here are a few reasons:

MILLENNIALS

Contrary to many reports, this age demographic is READY, WILLING and ABLE to become homeowners. As a matter of fact, the latest National Association of Realtors’ gender study revealed that the Millennial generation has recently accounted for a greater percentage of all buyers than any other generation.

BABY BOOMERS

As prices have risen, so has the equity in many homes across American. Homeowners, having been shackled to their house because of low or negative equity for the last several years, are again free to make a move without worrying about bringing cash to a closing table in order to sell. We believe this new-found freedom will release a pent-up demand of sellers who want to move-up to the home they’ve always dreamed of or want to downsize their primary residence and also purchase a second home they can use for vacation, retirement or both.

BOTH PRICES and MORTGAGE RATES are on the RISE

As the economy improves, more and more Americans are regaining faith that their own personal finances are headed in a positive direction. With this new confidence, they want to take advantage of the opportunity that presents itself with real estate still undervalued in most parts of the country and mortgage rates being well below historic numbers.

by KCM Crew

Leave a comment

Filed under Real Estate (Market info)

04/15/2014 · 10:20 am

Berkeley County Activity Leads to Increased Home Sales in March

Berkeley County Activity Leads to Increased Home Sales in March

CHARLESTON, SC— According to preliminary data released today by the Charleston Trident Association of REALTORS® (CTAR), 1,110 homes sold at a median price of $219,316 in March. Last March, 1,075 homes sold at a median price of $200,789 in the region.

Inventory increased significantly in March–there are currently 5,873 homes listed as ‘active’ for sale in the Charleston Trident Multiple Listing Service (CTMLS). Last March there were 5,745 homes available and last month, 5,565. A growing inventory will supply interested buyers with more choices and keep prices from inflating on an unrealistic basis.

“As the spring buying season begins, the expected trend has continued—a small but sustainable increase in sales” said 2014 CTAR President Corwyn Melette. “The additional inventory will result in more interested buyers and help keep our market stable over the next few months. The substantial sales gains this month in Berkeley County were supported by a concentration of activity in the new Cane Bay Plantation and Daniel Island as well” said Melette.

February Adjustment
Preliminary data reported for February 2014 indicated that 791 homes sold at a median price of $210,000. Adjusted figures now show 813 homes sold a median price of $207,000.

Berkeley County
248 homes sold at a median price of $176,601 in Berkeley County in March. Last March, 201 homes sold at a median price of $168,000. The most active area in the county was in the North area bordered by Jedburg Road, Highway 17A and College Park, with 59 sales at a median price of $171,500.

Charleston County
In Charleston County in March, 626 homes sold at a median price of $280,000. Last March, 649 homes sold at a median price of $245,000. 210 homes sold in Mt. Pleasant at a median price $390,633. Other top areas were West Ashley (outside I526) with 77 sales at a median price of $219,000 and North Charleston (outside I-526) with 64 sales at a median price of $131,295.

Dorchester County
191 homes sold at a median price of $159,000 in March in Dorchester County. Last March, 189 homes sold at a median price of $162,500. The most active area was Summerville/Ridgeville, where 85 homes sold at a median price of $173,000.

-Market Reports from Charleston Trident Association of Realtors

Leave a comment

Filed under Home Buying (For Buyers), Places, Real Estate (Market info), Selling Real Estate (For Sellers), Stories, News & Events

04/15/2014 · 10:11 am

Charleston Gaining Global Recognition

The New York Post Included Charleston in their “20 hottest real estate spots in the world”! The article appeared 4/8/2014

The 20 Hottest Real Estate Spots in The World!

Charleston, SC: Historic downtown, up to $19M

The lure: A coastal city with thousands of miles of waterways, historic Charleston has a lovely year-round climate that allows for outdoor recreation of all types. But beyond the beauty, Charleston has emerged as a surprising economic success story that is luring East Coast-based buyers. Over 250 small-scale tech and digital companies have set up home in the Charleston area, making it one of the 10 fastest growing cities for software and Internet technologies in the nation. “Charleston is a big city that ‘lives’ like a small town,” says Ruthie Ravenel, an agent with Sotheby’s affiliate Daniel Ravenel Real Estate.

Key developments: Along with the Upper King Street corridor, Ravenel points New Yorkers toward Halsey Park, a new community being sold in Harleston Village. “The plan features row houses with private rooftop decks and harbor views.” This is one of the last developments in the heart of downtown Charleston, she notes. Row houses are all priced in the $1.4 million range. In the historic core, prices can easily top $10 million.

Read The Full article;

http://nypost.com/2014/04/08/the-20-hottest-real-estate-spots-in-the-world/

Leave a comment

Filed under Places, Real Estate (Market info), Stories, News & Events

04/15/2014 · 9:49 am

Freddie Mac: Doubtful Rates Will Return to Recent Lows

by The KCM Crew on March 26, 2014

“One thing seems certain: we aren’t likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012.”

– Freddie Mac, March 24, 2014

There are those that hope that 30-year mortgage interest rates will head back under 4%. Obviously, for any prospective home purchaser that would be great news. However, there is probably a greater chance that interest rates will return to the greater than 6% rate of the last decade before they would return to theless than 3.5% rate of 2012.

Freddie Mac, in one of four original posts on their new blog, explained that current rates are still extremely low compared to historic averages:

“The all-time record low – since Freddie Mac began tracking mortgage rates in 1971 – was 3.31% in November 2012. Conversely, the all-time record high occurred in October of 1981, hitting 18.63%. That’s more than four times higher than today’s average 30-year fixed rate of 4.32% as of March 20…rates hovering around 4.5% may be high relative to last year, but something to celebrate compared to almost any year since 1971.”

If you are thinking of buying a home, waiting for a dramatic decrease in mortgage rates might not make sense.

Leave a comment

Filed under Home Buying (For Buyers), Mortgage Info, Real Estate (Market info)

Category Archives: Real Estate (Market info)

Charleston Market -Under Contract; Quick, Quick, Quick!

National Association Of Realtors; Sales UP, Prices UP, Inventory UP & Distressed Sales Down!

Sales and Median Price up in Charleston Area – S.C. Real Estate