November 2009 Folly Beach, SC Real Estate Market Report

Here is your Folly Beach Real Estate report for November 2009.  8 Properties sold this month on Folly Beach, bringing the total this year to 55.  November was tied with July for the most monthly sales of 2009.  The sales included a Mariners Cay condominium for $260,000, a Charleston Oceanfront Villa for $760,000, and a [...]

Market Statistics…Downtown Charleston Inside the Crosstown

So much has been written in the last week about the recent rise in home sales for the Charleston area.  The local news publications and stations all covered the 7% increase (compared to September 2008) with a cautiously optimistic outlook. The first sentence of the Post and Courier article declares “Charleston has finally hit a [...]

More Good News in Real Estate

There is more good news for real estate in the Charleston Trident area! Both the Post and Courier and The Charleston Regional Business Journal are reporting real estate sales for the month of September, 2009, saw an increase of 7% year over year.
The breakdown is:
• Berkley County saw 135 transactions closed for a 9% increase. [...]

Not Only Leaves Are Falling This Fall at Folly Beach

As we have all been holding our breath and waiting and wondering what is going to happen with our local real estate markets, something slowly but surely has been happening at Folly Beach.  Properties are actually moving….changing hands.  What is that you say?  Real estate selling on Folly Beach?  No way!  Can’t be true!
Well the [...]

FAQ About Folly Beach Real Estate

Have prices come down?  How much?
Just like most (if not all) coastal regions, real estate prices on Folly Beach have come down significantly.  In general, prices have dropped 30% or more.
How are sales this year?
There were only 22 sales in the first 6 months.  Since then, there were 8 sales in July and 6 sales [...]

The Resurrection of the Handy Man Special in Charleston

Back in May, I noticed what I thought could become a trend in handy man specials* and created this blog post about it.  Rather than publish my thoughts immediately, I decided to wait on the market a bit because I was afraid my theory might be wrong.  (Doesn’t everyone prefer to be right??)  At the [...]

Things are looking UP

Over the last year, we have seen the enormous effect of the media on the general health and well-being of our economy.  More doom and gloom results in well, more doom and gloom.  A recent turn to more “optimistic” coverage  has seen people whispering “recovery” for a few months, and now it seems the numbers [...]

Market Statistics, Charleston Peninsula

There were 22 closed brokerage sales on the Charleston Peninsula below the crosstown in June, 2009 for an average price of $501,416.  In the same period last year there were 27 closed brokerage sales for an average price of $859,055.  This is the first month this year that the average sales price was lower than [...]

Charleston’s real estate market taking a turn for the better

Those of us who live in Charleston always consider ourselves lucky.  There are so many wonderful advantages to being in such a serene environment that is rich in both historical significance and natural beauty.  From the real estate perspective, Charleston’s market remained a strong draw long after other parts of the country were deeply embroiled [...]

Housing Affordability, Home Prices, and “the Bottom”

Housing affordability is very high but contrary to the past, it does not translate into higher sales volume or prices. Historically, housing prices had downward pressure when the housing affordability index was low and vice versa, housing prices had upward pressure when the affordability index was high. These days, the affordability index is above 140 [...]