“The Skinny” on Charleston’s 4th Quarter of 2010 and 2010 in Review

The Charleston Trident Association of Realtors has put out their video of market statistic  for the 4th Quarter (Q4) of 2010 and for the 2010 year in review.

The Q4 inventory decreased by 14.6% from 9,628 units in 2009 to 8,224 units in 2010.  This doesn’t mean that there are not still plenty of homes for buyers to choose from, so quality and value are what buyers are looking for in their purchases.  Sellers will need to provide one or both of these to fight the competition to capture the attention of buyers.  The median sales price increased from $177,687 in 2009 to $190,000 in 2010, a 6.9% increase.

In 2010 overall, the number of closed sales also increased 4.3% from 8,329 units in 2009 to 8,687 units in 2010.  The median sales price went up as well, from $182,500 in 2009 to $188,290 in 2010, a 3.2% increase.  Yearly comparisons show the market peaking in the number of closed sales in 2005 and appearing to bottom out in 2009.  Yearly comparisons also show the market peaking in median sales price in 2007 and appearing to bottom out in 2009. 

Watch the video to find out more about what interest rates seem to be doing over 2011.  Email me with questions and comments about the Q4 and 2010 as a whole at sallierobinson@williammeans.com.

One-Bin Recycling Trial Run

I drove into Belle Hall the other morning and saw the blue recycling bins now styled like the standard garbage cans.  Charleston County has issued these new bins to a few neighborhoods throughout the Charleston area to test out this one-bin method where residents will combine everything recyclable including paper, plastic, glass, and metal instead of having to pre-sort them to be placed manually into the trucks.  These new bins have a top (in my opinion, a welcome change from the open top bins) and will be emptied by the truck instead of being emptied by hand.  Charleston County is hoping that these bins will encourage more recycling by those who currently recycle and will encourage those who didn’t previously recycle to do so because of the convenience of these new bins.  Read more about it in The Post and Courier.  Would you like to see these used in your community and how would they affect you?  Let me know what you think at sallierobinson@williammeans.com  and if I can answer questions about the real estate market in your community.

“The Skinny” on Charleston’s 3rd Quarter of 2010

The Charleston Trident Association of Realtors has another video out about trends in Charleston’s real estate market.

Realizing that at this time last year, the 2009 Tax Credit deadline was quickly approaching, activity then was unusually strong.  Adding to these circumstances that the Tax Credit ran until the end of April 2010, the number of sales will seem especially low for this quarter.  The median sales price for Q3 2010 is up to $195,00, a great increase of 6.8% over Q3 2009.  A more favorable buying environment has come about with negotiations moving in favor of the buyer with low-interest rates and plenty of inventory.  Check out more about the Q3 market of 2010 in this video and let me know what questions I can answer at sallierobinson@williammeans.com.

Charleston Awarded Bicycle Friendly Community Designation

Recently, Charleston has been awarded by the League of American Bicyclists, the designation of Bicycle Friendly Community.  This award goes to communities “that actively support bicycling and are committed to improving public health and quality of life while protecting the environment and providing better transportation choices” according to the article by lowcountrybizsc.com.  Charleston joins 158 other communities in holding the Bronze level award and has the opportunity to achieve a greater designation with improvements the city makes between now and its next evaluation in four years.  This article talks about some of the improvements the City of Charleston has made and other improvements and projects it hopes to complete such as “the addition of bicycle lanes to Saint Andrews Boulevard, improvements to several miles of the West Ashley Greenway and construction of a separated bike/pedestrian lane on the T. Allen Legare Bridge to connect the Charleston peninsula with the West Ashley Greenway” to help promote healthy living and cycling for both fun and transportation.  Read this article for more information about this designation given to the City of Charleston and let me know your thoughts at sallierobinson@williammeans.com.

“The Skinny” on Charleston’s 2nd Quarter of 2010

The Charleston Trident Association of Realtors put out another brief video about real estate trends in the Charleston area.

In 2010, there were 2,647 pending sales in the 2nd quarter(Q2), an 8% increase over the 2,451 pending sales of 2009’s 2nd quarter(Q2).  The 2,749 closed sales of the Q2 of 2010 were a 30.2% increase over those closed in the Q2 of 2009.  Inventory was down to 9,834 active listings by the end of 2010’s Q2 from 10,790 active listings by the end of 2009’s Q2.  The $185,000 median sales price of 2010’s Q2 however, was down slightly from the $188, 292 median sales price of 2009’s Q2.  While it may be down a little, do not forget that in the group of homes to sell, a number of closed sales came from first time home buyers taking advantage of the tax credit, and they are not necessarliy looking for homes in the million dollar and up price range.  The percent of the original asking price received increased this year’s Q2, up to 91.2% compared to last year’s Q2.  Check out the video for more information about this, interest rates, and overall market demand.  If you would like more specific information about certain areas, email me at sallierobinson@williammeans.com and I’ll be glad to help.

Over 1,000 Homes Sold in June

The Charleston Trident Association of Realtors has put out some statistics that I think you will find interesting.

Over 1,000 homes (1,022 according to CTAR) sold in June of 2010.  They note that the last time that over 1,000 homes have sold in a month was in August of 2007.  The median price for the homes sold this June is $185,612, lower than the median price in June of 2009 at $192,626, but still consistent with sales prices for 2010.

In comparing the average number of days on the market, homes in June 2010 sold in 105 days, 13 days faster than the 118 average number of days on the market in June 2009.

Another interesting fact given was “Year-to-date, 31% more homes have sold than in the first half of 2009, and median prices have remained stable, increasing by a slight 1% margin.”  Over all, the Charleston Trident Multiple Listing Services listed 9,869 homes actively on the market as of June 30th.

Check out their article and their statistics and let me know if you have any questions or if you’d like statistics of a certain area for the month of June 2010 at sallierobinson@williammeans.com.

Carolina Day – June 28, 2010

Today is Carolina Day, the day South Carolinians celebrate the victory at Fort Sullivan of the Americans over the much stronger and better equipped British.  Fort Sullivan, now known as Fort Moultrie, was commanded by Colonel William Moultrie against the attack of a British fleet led by Admiral Peter Parker.  The Americans had covered the fort in Palmetto logs, as they were an easy to obtain local material needed to help protect the unfinished fort, and guarded it with a small number of guns and cannons brought over from Charleston.  Fort Sullivan was bombarded all day by the British to try to weaken the American’s stronghold here in order to allow the British safe passage into the Charleston Harbor.  This victory by the Americans gave our founding fathers the courage to go ahead and sign the Declaration of Independence.

Two fun facts to note: the palmetto logs were soft and spongy to help protect against British fire and the lowcountry tides helped run the British ships aground. 

The festivities will start this afternoon at 1:00pm in St. Michael’s Church with a service followed by the Pinckney Monument Dedication in the churchyard.  Organizations are gathering at 3:00pm in Washington Park for the 3:30pm parade down to White Point Gardens for the wreath-laying ceremony and music by the Charleston Community Band and remarks by Bishop Allison.  After this there will be a rededication of the renovated bandstand.  There will also be activities at Fort Moultrie on Sullivan’s Island throughout the day ending with a concert this evening by the Army National Guard Band.  Check out the South Carolina Historical Society for more details about today’s festivities and let me know what you enjoyed the most of the celebration and what new fact you liked the most about our history at sallierobinson@williammeans.com.

SmartCards for Parking Meters

The City of Charleston has now put in parking meters that accept SmartCards as well as change.  Fishing around for change  for parking meters is not the way I like to spend my time.   These new SmartCards will allow you to add time to the meters without having to search for loose change and will also allow you to collect your extra meter time that you didn’t use if there is any left at the end of your trip.  I think this is wonderful and a much more practical way to pay for parking meters downtown.

You can get the card for $5 and then add time to it at either the Traffic and Transportation Department on Lockwood Boulevard or at the Charleston Visitor’s Center Gift Shop on Meeting Street across from the Charleston Museum.  The city has 1,840 parking meters that charge the same  amount for time on the meter whether you are using the new SmartCards or coins you found by digging into the car seats.  Let me know what you think of the SmartCards and if they helped you save time getting to your next meeting by emailing me at sallierobinson@williammeans.com and check out this article about them from the Post & Courier.

Local Home Sales Increase in May

I have noticed an increase in calls to see property recently.  The home-buyer tax incentive and the extremely low mortgage rates recently have given buyers the confidence to purchase, but they are not the only reasons.  Great prices and property available have also helped encourage people to make a move this May.   According the the Charleston Trident Association of Realtors, in Charleston County, sales prices increased 6% to $228,000 with 475 sales, a 31% gain over May 2009 sales volume.  Read this article from the Post & Courier for more about the tri-county area sales in May.  Email me with questions about recent sales or properties available at sallierobinson@williammeans.com.

10% Increase in Home Sales in SC from March to April

The South Carolina Association of Realtors reported that April had a 10.5% increase of homes sold over those sold in March and a 36.3% increase of homes sold over April 2009.  April 2010 showed home sales statewide of over 4,350.  In South Carolina, the average number of days on the market did not change dramatically from 151 in March to 152 in April.  The median home price did increase from $139,000 in March to $141,000 in April.  A more narrow look at the Charleston area showed that condos, villas, and residential homes, year-to-year sales in April increased 51.40% from 518 sales in April of 2009 to 784 sales in April 2010.  Check out more sales numbers and information in the Charleston Regional Business Journal’s article.  Do you have questions about sales in a particular neighborhood?  Email me at sallierobinson@williammeans.com for more information.