Peninsular Charleston Market... today.
Changing skyline. Downtown Charleston is one of the hottest markets in the country for both residential and commercial real estate. Coming into town you'll generally see close to a dozen cranes in the sky erecting new office, condo, apartment, hotel, and mixed use buildings.
How high can it go? The median sale price on the Peninsula has increased 80% since 2012. That's right - 80%! It continues to climb into 2021.
Things to watch. Pending sales, closed sales and inventory are all good indicators of purchase and sale activity. They tell the story of supply & demand. Out the gate in 2021, we're seeing a level # of new listings and lot more sales. Inventory has been steadily falling since last summer. We'll be keeping an eye on inventory this spring to see how quickly new inventory gets scooped up.