Thank goodness a new year is upon us. Let’s all hope that things will be much better in 2021!
January is the month for the Museum Mile Pass. Some of Charleston’s most popular venues are open free to pass holders and there are 13 places participating this year. This would be a great time to get out and support local historical landmarks. The Stingrays are playing hockey again at the N Chas Coliseum. Speaking of Rays, the Charleston Riverdogs minor league baseball team has ended its affiliation with the Yankees and gone back to an affiliation with the Tampa Bay Rays. Disney on Ice is also back in town. The Southeastern Wildlife Expo has announced they are moving ahead with their Feb 2021 event but at 25% capacity. Here is your January calendar of events:
31: Lowcountry Oyster Festival, Boone Hall(attendance capped at 5000)
Big news from Wal-Mart in Charleston that will lead to 1,000 full time jobs locally. Wal-Mart has broken ground on their new $220M Ridgeville Import Distribution Center. The 3M sq ft storage and cross dock facility will be one of the company’s largest. It will increase our port volume by 5% upon completion. Construction should take about 14 months.
The Charleston housing market has been incredible. The National Association of Realtors named Charleston as a Top Ten Market that has shown resiliency during the pandemic period and is expected to perform well in a post Covid-19 environment. Through November, we are up 15.6% in transactions over the same 2019 period. 2019 was the busiest year ever in Charleston real estate history (until now). Median sales price was up 8.4% over the same period. Median sales price YTD is $305k. Inventory has been extremely low. For the previous five years, we have consistently had between 5,000 to 5,500 homes for sale at any given moment. Right now, we have about 2,500 active listings in our market and we are going to sell over 20k homes this year. New home builders are just not able to keep up with demand. One of the most interesting things that we have seen in Charleston is the rise in the number of $1M+ home sales. In July, August, and September of 2019, we had just under 60 homes closed for over $1M each month. In each of those months in 2020, we saw over 130 closed sales for over $1M!
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.
