Charleston's Sizzling Market
The housing market in Charleston continues to rebound at a pace far ahead of most of the country. We are now at officially normal inventory levels, and the investment market is so competitive, that multiple offer situations are the norm. Rents in all areas are strong, and it creates a win-win for home buyers and sellers and investors. Additionally, Charleston's quality of life continues to be ranked in the top five of nearly every rating service and publication in the nation. Primarily, the townhome and condominium inventory is highly competitive with investors. The beach and second home market on the Isle of Palms, Sullivans Island and Kiawah/Seabrook is down in inventory, and up in price about 3% since October and climbing. Still, the prices for barrier island homes are the lowest in years, making them a great combination home bet.Overall, the tri-county area is up an average of up to 6%, and inventory is near 6,500 homes, down from a high of 14,000+ in 2009.