July Real Estate News 2019
Charleston continues to be a very hot topic around the country. Dr Beach from FIU’s Laboratory for Coastal Research has ranked Charleston County’s Beachwalker Park #10 out of 650 coastal US beaches based on 50 criteria including sand and water quality, facilities, and environmental management. The Discoverer blog ranked Angel Oak on Johns Island as one of their Most Beautiful Places in the US. A new report from personal finance website ranks SC as the 10th best state for Military Retirees. SC had the largest percentage of veteran owned businesses in the nation and was 6th in the number of veterans per capita. It was reported that Spoleto festival attendees brought in over $43M to the lowcountry economy and the 5 day Charleston Food + Wine event is said to have had an $18.6M economic impact on the area.
All these great reports keep our booming housing market strong. Overall, YTD 2019 is up 3.4% in median sales over the same 2018 period. Median sales price is at an all time high of $279k. Two Summerville areas are up over 9% in median sales price, Hanahan is up 17.7%, 2 Goose Creek areas are up over 8%, Daniel Island is up over 18%, and the Wando area off Clements Ferry Road is up over 10%. We are down about 2.2% in terms of transactions, but we anticipate the fall of 2019 to be stronger than the 2018 fall. May was up 17.7% over April in terms of transactions.