Charleston SC Real Estate Market Updates

The Charleston SC Real Estate Market . . .

Average Price Per Square Foot a Good Measurement to Track the Market

Many articles on the real estate market refer to average and median home prices. The problem with these measurements is that they don't take into account buyer behavior. Using these measurements as key indicators of the market assume that the buyer is going to buy the same house, rather than buy more house for the same money.

The attached chart also shows the affect of beach front homes and areas closer to the ocean such as Mount Pleasant. Folly Beach and Island of Palms are down over 50% from their highs in 2006. Mt. Pleasant is also down over 20%. 24% south of 41. The "North" area fared much better, down only 13%. The North Area is North Charleston outside 526, Goose Creek, Dorchester County North Charleston, Summerville, and parts of Berkeley County including Hanahan.

The North Area is where you can get the most home for your money. It's just a little bit farther to get to the beach. Also, your commute can be longer depending on where you work, and on what part of the North Area you live. A good Realtor can help you minimize your commute time if that's a primary concern of yours.

Hopefully this sheds some light on the subject of real estate prices in Charleston. Prices ARE down, but not as bad as the rest of the country. And you have to look at the particular part of town in which you're interested. They all have their pro's and con's. Again, working with an experienced Realtor will help you sort through all your options to help you make the best decision.