Mt pleasant business association matt deantonio_2015

Charleston Trident Association of REALTORS® The voice of Lowcountry real estate for more than 100 years

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Charleston Real Estate Market Update – 2014 Year in Review – 2015 Forecast




The Voice of Lowcountry Real Estate The Charleston Trident Associa1on of REALTORS® has served as the “Voice of Real Estate” in the Lowcountry region of South Carolina for more than 100 years, issuing sta1s1cal analysis of market condi1ons, offering legisla1ve support to its members and the industry at large and serving as the premier resource for all things real estate in the tri-‐county and outlying areas.




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2014: A year of

GROWTH CONFIDENCE SUCCESS

Economic Growth -‐  Globally -‐  Statewide + locally

Consumer Confidence: UP!




Top Performing Areas in 2014: •  Kiawah + Seabrook 32% sales growth •  Wando/Cainhoy 31% sales growth •  Goose Creek/Moncks Corner 20% sales growth •  James Island 17% sales growth




•  Sales of single family homes increased 17%

•  Condo/townhouse sales remained rela1vely constant

•  Distressed sales have declined by half since 2012




Top Performing Areas in 2014: •  Downtown Charleston 26% growth •  Upper Charleston Peninsula 21% growth •  Folly Beach 20% growth •  Wando/Cainhoy 17% growth




•  4.9% over 2013 regionally

•  15% growth since 2010, appropriate pricing recovery

•  Charleston County leads price growth, 17% since 2010!

•  8% growth in 2013, 5% is much more sustainable




Changes in inventory 2014: •  Johns Island 17% inventory increase •  Wando/Cainhoy 8.5% inventory increase •  Folly Beach -‐ 32% inventory decrease •  Upper Charleston Peninsula -‐ 41% inventory decrease




Closed Sales | January-‐March




Median Sale Price| January-‐March




Inventory




Inventory •  Needs to increase

•  Cannot restrict smart development

•  Mt. Pleasant: 3.4 months of inventory




Outlook for 2015




2015 Sales Forecast

Source: Resh Marketing, Dr. Joey VonNessen




“If you liked 2014, you are REALLY going to like 2015” -‐  Dr. Joey Von Nessen

Economist at CTAR’s Annual Market Update (Jan 2015)




Thank You!

[email protected] @MaWDeAntonio

Find monthly market reports online,

CharlestonRealtors.com/MarketReports