It is officially Fall!  October is finally here, and the weather is outstanding in Charleston! It seems like there is a bit more going on these days, under certain conditions of course. The Live Under the Oaks Concert Series is each Thursday at 6pm at Mt P’s Town Center. The Preservation Society will be holding fall tours all month in their Architecture, History, and Gardens Tours.  Enjoy wine and live music and a food truck every Wednesday at Old Towne Park from 5-7pm.  The Folly Beach Pier will be closing on Oct 19 and will be demolished.  A new pier will be built and is targeted to open in 2023.  Crazy!  Boone Hall Fright Nights have started and will be Thursday through Saturday until Halloween.  Here is your October calendar of events:
5: Swing for the Symphony 2020 golf tournament, Charleston Country Club
10: 2nd Annual Lowcountry Bottom Fishing Rodeo
10: Lowcountry Trail Half Marathon and 5K, Mullet Hall
10,11: 13th Annual Autumn On the Ashley Arts and Craft Fair, Magnolia Gardens
16: Charleston Hot Air Balloon Festival and Polo Match, Mullet Hall
17: Kiawah River’s Annual Fall Field Day and Run Like the Devil 5K
17: Freshfields Village Cars and Coffee 9-11am
18: Gaillard 5 Year Anniversary
23,24: Charleston Greek Festival, Holy Trinity Greek Orthodox Church
23: Charleston Jazz Orchestra Sounds of the Lowcountry, Firefly Distillery
23,24: Shovels and Rope, The Bend N Charleston Riverview Park
30: The Wizard of Oz by the Ballet Academy of Charleston, Charleston Music Hall
30: St Paul and the Broken Bones, The Bend N Charleston Riverview Park
The Charleston housing market has been setting all kinds of records since April.  Each week, the number of houses going under contract exceeded the previous weekly record set back in 2018 (often by 20% or more).  Real estate activity has been exceptional during this pandemic almost nationwide.  The low interest rates are obviously fueling this run.  Year to date in Charleston, we are up 5.8% in transactions over the same 2019 period and up 6.2% on median sales price.  Median sales price is now at $300k for the entire area.   While demand is sky high, our inventory is the lowest we have seen it since 2005.  We had about 5,000 to 5,500 active listings on any given day for the past five years.  Now, we have less than 3,300 active listings.  That is only about 1.8 months of inventory. We are adding plenty of new listings, but the demand is eating them up faster than we can put them on.  $1M+ homes are selling at over twice their normal rate.  In July and August of 2019, we sold just less than 60 homes each month for over $1M.  In July and August of 2020, we sold over 130 each month for over $1M.
As always, we are committed to providing our clients with an unparalleled level of service whether buying or selling a home. We strive to have our clients feel and experience our commitment to them while helping accomplish their real estate goals. That is truly what it is all about! Please let us know how we can help you!

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.