June 2020 - News

June 2020 - News

  • IOP Residential Real Estate
  • 06/3/20

Real estate activity in Charleston is booming through all of this craziness. We’ve seen almost 1500 residential properties go under contract in Charleston over the last 3 weeks. 2 weeks ago, we set an all-time record of 497 properties going under contract in one week. The week before that was 489 and this past week was 494. Until this happened, 458 in 2018 was the previous all-time record for one week. Through April 2020 is up 3.8% in transactions over the same time period from the record year of 2019. The median sales price is up 6.6% to $293K. People really want to move to Charleston and maybe now more than ever. Our tri-county area including Dorchester, Berkeley, and Charleston counties has had some of the lowest infection rates in the entire state. SC has a population of just over 5 million people. So far, SC has had less than 500 deaths. We’ve only had 29 deaths in the tri-county area as of May 25. Berkeley and Dorchester counties each have less than 100 confirmed cases per 100K people. It was a beautiful spring in Charleston in terms of the weather. SC has opened back up for the moment. You can dine in at most restaurants with seating socially distanced. Many have tried to do more with their outdoor spaces. The beaches are also open. This includes IOP, Sullivans, Kiawah, Folly, Edisto, and Seabrook. Reservations are pouring in. Local libraries here in Charleston are due to open up about June 8. The Citadel has announced it will re-open campus to cadets and grad students in August to begin the fall semester. County Parks has re-opened and James Island County Park has announced Reggae Nights concert series will resume on June 26. The 33rd Annual Blessing of the Fleet and Seafood Festival is scheduled for June 28 at Waterfront Park in Mt Pleasant. Stay safe out there.

Call Amy at (843) 824-4892 or email amy@iop-residential.com to start a discussion of your needs.

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