Charleston South Carolina Real Estate

The future for real estate is bright in Charleston

 Find a new home in Charleston

The outlook for the real estate market in Charleston South Carolina is excellent.   Reasons to be optimistic about the future of real estate in the greater Charleston area abundant. Here are a few.

The general consensus among Realtors of the area is that we have passed the bottom of the local market and we are already enjoying a gradual upswing.  We have seen consistent positive indications of improvement including that sales in September exceeded sales of last September by a full 7%.

Home builders in Charleston have done a good job monitoring demand this year and have adjusted accordingly so new homes inventories are not excessive yet the quality and availability of inventories for buyers seeking new construction is sufficient.  The total number of builders in the Charleston area has decreased  - especially among custom builders.  While there has been some reduction in current capacity, ramp up time is short as most of the larger builders are still in place, many of whom have excellent land positions.

Charleston is pro business - large and small. Economic development and diversification continues at breakneck speed for the Charleston area. We have had numerous announcements in the last few years about new companies coming to Charleston and many companies that are already in the Charleston area are making plans for expansion.  Certainly not least among these many companies have been Google and Boeing.  Small businesses do well here also .  Charleston is one of the top small business growth regions in America (#2 Top Cities for Small Business (Entrepreneur and D&B)). The jobs outlook for the Charleston area in coming years is solidly in the green. This is a huge positive for home sales and home values.  

On a national level, continued efforts to strengthen the real estate market, including the likely extension of the first time homebuyer credit and the inclusion of the $6500 homebuyer tax credit for existing homeowners, will continue to push the tide higher for the entire national home market.  This is a especially important for a market like Charleston because we depend so much on area growth from newcomers moving to the area. The "potential Charlestonians"  will now be more likely to be able to sell their homes in other areas and to move on to Charleston to purchase their next homes.

Charleston has very friendly people who encourage others to move to the area.    Charleston has been recognized for dozens of years as being one of the most friendly areas in the nation and has been voted many times to be America's most polite city.  The attitude of people living here now is important in attracting new arrivals Charleston.  It is incredible how many decide to move to the area for no other reason than the attitude of the people who already live here. 

Charleston has an excellent reputation for education as it consistently works to improve and to expand educational opportunities, both public and private.  One of the key factors that corporations consider when looking at an area for potential expansion or relocation is the quality and availability of educational opportunities.  This is Important not only for the morale of their own employees but it is also important when it comes to considering the educational level of new hires.  Charleston has a medical school, law school, numerous colleges, and one of the best technical education facilities in the nation, Trident Technical College.  In addition, among the public schools you will find examples of superb facilities such as The Academic Magnet High School, rated seventh among all high schools in the country, magnet math and science schools, and magnet schools for the performing arts.

Charleston receives consistent accolades referring to a broad range of attributes.  The non-stop positive press about Charleston keeps the area "top of mind" for thousands of people considering a move for retirement, great weather, educational opportunities, cultural opportunities, business opportunities, and so much more.  Even with the economy struggling over the past two years, Charleston has continued to grow.  Anticipated long-range growth for the area appears excellent.

Proactive infrastructure preparation in anticipation of growth gives Charleston a leg up over many other areas.  The Tri County Area governments (Charleston, Dorchester and Berkeley counties) have worked diligently for the past 20 years to create a positive atmosphere for growth and have campaigned actively to develop relationships with potential employers considering Charleston as their next expansion move.  Infrastructure preparation has included detailed long range planning for schools, roads, neighborhood developments, business parks and shopping areas as well as great attention given to developing recreational opportunities and maintaining the area's famous aesthetic qualities.

Home affordability in the Charleston area makes it easy for first time homebuyers to buy and for move up home buyers to upgrade.  Barriers to homeownership in the Charleston area are low.  Land prices are reasonable and land for development, plentiful.

Land availability is outstanding for new production facilities and related job growth opportunities.  The areas surrounding the developed portions of Charleston are wide open for commercial and industrial development.  Unlike many cities that are the size of Charleston, business growth is not constrained by land availability. 

Yes, there are new reasons to consider Charleston among the best places to live in the country but many of the reasons are no different than they have been for hundreds of years.  Charleston is simply wonderful place to live, to work, and to play.  The future for real estate in Charleston is bright.

Chris DeLoach, ABR, BIC

See: www.chrisdeloach.com

Chris@houseplanrealty.com

843-654-4578

Published Thursday, November 05, 2009 9:56 AM by Chris DeLoach, ABR, SFR, BIC