Market Conditions - June 13, 2006 by Carla L. Davis
Charleston, South Carolina, is seeing a steady growth in population, brought on by a strong job market. These factors are creating a booming real estate market. Among the companies keeping the economy up and running is Vought Aircraft, having just completed a new assembling plant. Experts are reporting that this city of 116,000 is seeing a strong sellers market with rapidly rising prices. Reports a local expert, "The market continues to move along at an extremely fast pace. In the Charleston/Mount Pleasant area, 340 houses sold in May alone at an average price of $372,526. The average days on the market are only 43. Sellers have been receiving 98 percent of their listing price indicating a good seller's market." As with many other cities across the nation, there has been a movement back into the urban centers and downtowns, where nontraditional living spaces abound, as do shortened commutes. It has been since the late 1990's that the Charleston market has been on the upswing, and while home prices are much steeper than they were 10 years ago, homes are still available from the $90,000's and up. So if you're looking for a Southern town known for its friendly residents and reputation for great manners, Charleston could be the city for you! |
