Tyrone Richardson of The Post and Courier has an article on the resurgence of the Charleston condo market. While the article references Palmetto Place as a condo being converted from rentals, that development initially was a condo deal that failed and was converted to rentals and now the Florida buyer is selling the units (again). Seth Clark, our resident condo expert at Colliers, says the best barometer of a resurgence is new development, and we haven’t seen that yet, but we suspect we will by the end of 2014, first on the Peninsula, second infill sites, and third in the suburbs.
CoreLogic reports CHS area home prices in June increased by 2.8% compared to the June 2013. Surprisingly, that is about one-half of the increase reported by the state; I suggest they re-check their math as we see prices continue to outpace the state as a whole, but i digress. Tyrone Richardson of The Post and Courier has the story.
With just over 6,600 homes sold thus far in 2014, the CHS residential market continues to improve, with 8% more homes sold in June 2014 vs June 2013 and the median price up 4%, to now at $227,500. Experts say the growth is more sustainable than the “crazy” spike we saw of 22% in mid-2013 compared to mid-2012. The Post and Courier’s Tyrone Richardson has the brief article.
No surprise, the CHS residential real estate market continues to lead the Palmetto State, with just over 5,000 homes sold thru June and a continual improving key statistic – days on market, now at 78, vs 85 this time last year. Tyrone Richardson of The Post and Courier has the brief article that references a recent report from the SC Realtors. Tyrone also reports the CHS region’s foreclosure rate continues to fall as does delinquent home loans.
Tryone Richardson of The Post and Courier has an op-ed on the CHS region’s growth of its residential market, leading the state wit a 13.2% median price increase (to $215k) for Q1 2014 vs. Q1 2013, as compared to a 10.4% increase in the Southern Midlands region and 6.9% increase in the Western Upstate. I am not so sure all regions are compared (or available) so be careful with the information. See Tryone’s article here.
The CHS condominium market is roaring back, with very limited supply of inventory and continued demand. Now, to get lenders to be brave enough to finance them… Tyrone Richardson of The Post and Courier reports on the CHS condo market.
The Post and Courier’s Tyrone Richardson reports October’s home sales in the CHS region were up 10% from last October and prices were also up almost 3% from last Fall.