June is here and things are starting to heat up. They’re currently filming the 14th Season of Top Chef here in Charleston and Spoleto is underway for the next couple of weeks. With probably over 100 events between Spoleto and Piccolo Spoleto, you should probably visit the websites www.spoletousa.org or www.piccolospoleto.com. Sounds pretty awesome, right? But Travel and Leisure Magazine has only rated us the 12th Favorite American City. This seems a letdown after being voted #1 for 4 years in a row. Maybe we have too many people here now. I’ve heard different numbers but I think about 43 people are moving to Charleston each day! We are not a hidden gem anymore. Here is your June calendar of events:
2: Cyndi Lauper, Chas Music Hall
4 : Sweetgrass Festival, Mt Pleasant Waterfront Park
4: Colonial Lake Grand Reopening
4: 17th Annual Fishing for a Cure Tournament
4: Jerry Seinfeld, N Chas PAC
7-8: Hunchback of Notre Dame Ballet, Chas Music Hall
9: Grass in the Hall(Bluegrass), Chas Music Hall
10-12: Southern Living Live, 50th Anniversary Celebration, Streets of Charleston
12: Spoleto Festival Finale and Beer Garden, Middleton Gardens
14,15: Blue Man Group, N Chas PAC
17: Frankie Valli – Gaillard
18: Steep Canyon Rangers, Chas Music Hall
18: 2nd Annual Brew HaHa, N Chas PAC
18: Southern Soul Festival, N Chas Coliseum
19: Chris Cornell, N Chas PAC
23-26: 11th Annual Charleston Carifest
30-2: 14th Annual MegaDock Billfish Tournament, City Marina
July 10: Culture Club, N Chas PAC
July 26: Dave Matthews Band, N Chas Coliseum
The real estate market here continues to outperform. Last year was the first time we 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.
No comments:
Post a Comment