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 82% since 2012. That's right - 82%! It continues to climb into 2019.
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 2019, we're seeing a few more new listings and lot less sales The inventory curve has flipped and will likely be compounded by new townhomes and apartments coming online. We'll be keeping an eye on inventory this spring to see how quickly new inventory gets scooped up.