May is here and the garden flowers await your visit! Garden strolls and wine tastings are back at Middleton Place. The Charleston Farmers Market runs all summer on Saturdays at Marion Square. May also means that the RiverDogs season is back in full swing. Here is your May calendar of events:
26: Ryan Adams & the Cardinals, Firefly Distillery
Real estate sales in Charleston continue to be slower mostly due to the rise in mortgage rates. Last year was our third busiest year in history. This year is going to be a bit slower. Year to date, we are down 27% versus the same time last year. Our median sales prices continue to go up and will until there is more inventory and/or less demand. Inventory continues to be low because it’s difficult for current homeowners to sell their home with a mortgage of 3.5% and take on a new 6.5% mortgage.
Meanwhile, the Charleston area economy has been doing great! Scout Boats announced it will expand its Dorchester County headquarters with a $10M investment. Developers broke ground on a 336 unit luxury apartment community in Charleston near the intersection of Clements Ferry Rd and Charleston Regional Parkway. The Summerville Medical Center is ready to launch a $67M inpatient project designed to meet the growing health care needs of the community. Spirit Airlines is offering new nonstop services from Charleston to Fort Lauderdale, Newark, Philadelphia and Las Vegas. Breeze Airlines has announced a new nonstop flight between Charleston SC and Charleston WV. Bosch announced a $260M investment to expand production at its N Charleston facility with plans to add 350 new jobs by 2025. Neal Brothers Charleston, a global logistics company announced a $9.5M expansion to its existing operations in Charleston County. TMGOC Ventures opened Moxy Charleston in downtown Charleston. This is a hotel with a rooftop lounge and performance stage. Moxy is the first of four downtown Charleston hotel projects in the works for TMGOC Ventures.
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!