July is here and it’s heating up out there. One of the best ways to beat the heat is to get in the water at any of our Charleston area beaches! There are lot’s of Independence Day celebrations all over town. The Charleston Farmers Market is in action each Saturday from 8am-2pm in Marion Square. James Island is now having a Farmers Market on the first Friday of each month at the town hall. West Ashley also has a Farmers Market on Wednesdays from 3-7pm in Ackerman Park. The Dock Street Theatre will be performing “A Year with Frog and Toad”all month long. Enjoy a movie on the Freshfields Village Green every Wednesday night and Music on the Green every Friday from 6-9pm. Arkansas musician Bailey Bigger has moved to Charleston and will be at the Biergarten on July 18th and the 25th. Here is your full July calendar of events:
3: Hawthorne Heights, The Refinery
5: Charleston Battery Soccer
7: Charleston Sprint Triathlon Series, James Isl County Park
12: Dave Barnes, Riviera Theater
13: Tribute to the Allman Brothers, Riviera Theater
13,14: A Decade of Decadence(An 80’s Cabaret), Queen Street Playhouse
14: 2nd Sunday on King Street
17: Buddy Guy, N Chas PAC
17: Food Truck Rodeo, Seabrook Island Town Hall
17: Wine Down Wednesday, The Charleston Princess
18: Flatland Cavalry, The Refinery
18: Wine on the Piazza, Edmondston-Alston House
19: Charleston Battery Soccer
20: Cars and Coffee, Kiawah Freshfields
20: Cliff Cash, Old Trolley Theatre
20: Nickel Creek and Andrew Bird, Firefly Distillery
20: Pink Talking Fish and Trouble No More, The Refinery
24: Asia, N Chas PAC
27: 20th Annual Sweetgrass Festival, Mt Pleasant Waterfront Park
27: IOP Beach Run
28: Charleston Sprint Triathlon Series, James Isl County Park
Charleston real estate sales are getting off to a similar slow start in 202, similar to last year. Higher mortgage rates are still having a big impact on the market. They are now about 7% and the Fed is having a difficult time fitting in a rate cut. Through May of 2024, we are up over 3% in transactions versus the same time last year. Our median sales price (now around $425) is still strong with a 3% YOY increase as well. However, we have seen a small decline in the number of properties going under contract so far in 2024.
Meanwhile, the Charleston area economy is booming. Breeze Airways has debuted new service from Charleston to New Hampshire’s Manchester-Boston Regional Airport. The seasonal service flies on Mondays and Fridays. There is now a $43M affordable housing complex opening in Charleston Eastside. Restored by the community, for the community, the historic Henry P. Archer School has been revitalized in Charleston’s eastside as affordable housing apartments for seniors. The 90-year-old building was originally constructed in 1934 as an African-American school during segregation. Through the $43 million project, the historical school is now accompanied by two additional buildings to create a complex of one and two-bedroom apartment units. In an initiative to preserve one of Charleston’s most beloved green spaces, the Charleston Parks Conservancy announced a $125k campaign to renovate Colonial Lake. This two-year project aims to transform the lake into a stunning and sustainable urban oasis, addressing critical environmental challenges and enhancing community livability. Mount Pleasant’s Shem Creek Shrimp Docks and Shrimp Processing Facility are being rebuilt for safety and to maintain viable shrimping operations. The renovation is to “ensure the continuation of Mount Pleasant’s rich cultural heritage of shrimping and support for the local economy.” The College of Charleston is introducing an accelerated Executive MBA program tailored for working professionals seeking to elevate their business careers. Charleston, Berkeley and Dorchester County leaders broke ground recently on the Tri-County Biological Science Center, a 21,480 square-foot state-of-the-art facility that will help reduce DNA processing times by streamlining the local forensic analysis process. This project is the first regional collaboration on DNA testing in state history. Over the span of four years, Charleston was the fastest growing life sciences metro hub in the country among 24 leading metro competitors. Between 2018 to 2022, the amount of life sciences establishments in Charleston grew by 67%, according to Commercial Cafe, an online commercial real estate listing service. Allegiance Flag Supply, a producer of American flags, is expanding its Charleston County operations. The company’s $6.3 million investment will create 84 new jobs. Allegiance Flag Supply recently expanded into a new 24,000-square-foot building located in North Charleston.
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!
Charleston Area Subdivision Housing Market Sales Stats
Charleston Housing Market Updates and Trends
