September is here! We might finally get some cooler evenings to enjoy. There’s always good jazz to enjoy at the Forte Lounge downtown. There are only two dates left for Homegrown on the Point and just one left for Music on the Green at Kiawah. The Southern Lit Spectacular in Summerville looks like a good time. The Riviera Theatre is going through another revival with four major music acts this month and don’t forget about the Riverdogs! Here is your September calendar of events:
30: Sibling Rivalry, Chas Music Hall
Real estate sales in Charleston are slowing mostly due to the rise in mortgage rates. The Fed will likely raise rates by another 1% by the end of the year. Locally, we have seen active inventory rise from about 1,000 active listings just a couple of months ago to over 2,700 currently. Our sales are good, but we are not keeping up with the records of the last couple of years. We are just below the 2015 market pace. In terms of number of transactions, July 2022 was down 22% compared to July 2021 and July 2022 was down 17.2% compared to June 2022. Our median sales price on the other hand is now over $400k in Charleston. Last year it was $345k. Buyers that are shopping today don’t have the privilege of buying with a 3% mortgage rate that was prevalent over the last couple of years.
We are committed to providing our clients with an unparalleled level of service. We strive to have you feel and experience our commitment to you all while helping accomplish your real estate goals. That is truly what it is all about! Please reach out to us if you have any questions or if you are thinking of buying, investing, or selling a home!
