Charleston Real Estate Newsletter
So what if the dog days of August are upon us? That just means it’s a great time to go to the beach or the baseball game or take a splash in the pool or walk through the fountain at Waterfront Park. Speaking of beach, the county park at Folly Beach has now re-opened. The SC Governor’s Cup of Surfing will be held at the washout at Folly on August 11 – 12.
A yearly pass to all the county parks is under $100! I love sitting on the beach on Sullivans Island and reading the Short History of Charleston by Robert Rosen and then having lunch at Poe’s. It’s pretty special crossing over those bridges between Johns Island and Sullivans and seeing the greatest city in the world spread out in front of you. We got to see Alex Rodriguez from the NY Yankees come to town and play for our very own Charleston RiverDogs at the Joe. A-Rod was less than spectacular but the fireworks afterwards made it all a very special night. Hootie (Darius Rucker) and the Blowfish will be at the Family Circle Cup on Aug 23-24. The Lowcountry Jazz Festival will be in Charleston on Aug 30-Oct 1. The 8th Annual Beach Music and Shag Festival will be in Charleston the 24th and 25th at the N Chas Performing Arts Center. Show off at the Moonlight Mixer at the Folly Pier on the 30th.
Charleston was named the third Best City for Young Entrepreneurs by the website Under 30 CEO. They state we are becoming a prime location for information technology and corporate jobs. The Digital Corridor helped with growth in that sector. Two Lowcountry eateries made the GQ 50 best Things to Eat and Drink Right Now list. Number Two on the coast to coast list is Butcher and Bee’s Chinese Pork Belly Sandwich. Also making the list at Number 11 is SeanBrock’s Vinegar made with a Mountain Dew base.
charleston real estate newsletter
Where to stay when you visit or plan a staycation? Charleston area hotels also received kudos from Travel+Leisure.
Top 100 Hotels Worldwide saw #52 Market Pavilion and #80Wentworth Mansion. On the Top Hotels in the Continental US list: in the resort 40+ rooms #27 goes to The Sanctuary At Kiawah and #33 in the 100+rooms division goes to Charleston Place. We did well in Small Hotels with less than 100 rooms…#1 Market Pavilion; #3 Wentworth Mansion; #4 French Quarter Inn and #7 went toPlanters Inn. Congratulations for a job well done!
The real estate market in Charleston continues to rage on. Buying activity is still incredibly high, even with rising mortgage rates and rising prices. Just a year ago, I was still telling people that I couldn’t sell their home because they had lost 20-30% in value since they bought it at the peak of the market in 2006 – 2007. I’m now seeing those homes selling for what they paid for them at the peak of the market!! The last 12 months has been absolutely incredible. We havealmost gotten back to the prices at the peak of the market. Some locations, especially Mt. Pleasant, have completely swung to a seller’s market and have less than 4 months of inventory! What’s most remarkable however, is that we are still undervalued based on our long term trend of about 5% appreciation in Charleston home prices. That means there is still plenty of room for even more appreciation. If you’re thinking about buying or selling, want information specific to your situation or just have a question, it’s always our pleasure to help. Contact The Drake Herrin Group today or email us personally.
If you have any questions at all about the market, your neighborhood, or home specifically, please don’t hesitate to contact us at 843-471-0097