While the housing market in much of the country is still in recovery mode, the Lowcountry of South Carolina has experienced growth in the double digits. In fact, there was a reported 12,901 homes that traded hands in 2013. This increase in numbers shows just how popular Charleston is becoming. The growth can be attributed to new companies moving to the area and several large corporations wooing the Palmetto State.
Why the Lowcountry is the Place to Be
The benefits of living in Charleston and the surrounding water-front areas are almost too numerous to count. From friendly people to great seafood, low taxes to affordable housing, the draw of this area is endless. The mild winters, pristine beaches, and small town feel are also luring people to Charleston as are the new jobs, all of which is causing the housing market to explode. The most popular areas of the Lowcountry have seen high numbers in housing sales but there are plenty of newer communities sprouting up around the area; we are finding that some developments are sold out before they are even finished being built!
What Makes a Strong Housing Market?
Not only was 2013 a great year for the counties of Charleston, Dorchester, and Berkeley but the previous two years experienced increases as well. While the rest of the country has seen a decline in real estate, this region has seen steady growth and that has led many to wonder what is causing this growth.
Top Reasons why the real estate in Charleston SC is growing:
1. Reasonable housing costs in comparison to the rest of the country
2. Friendly and welcoming residents.
3. Beaches, boating, and fishing in abundance
4. New economic growth moving to the area
5. Improving public schools
6. Lower tax rates than many other states
7. High quality of life
In 2013, home sales went up by 22% and while the sales numbers were not yet available, the data is expected to be positive for the local economy. The domino effect will begin as more real estate changes hands, buyers and sellers will have more confidence in the market and this will perpetuate further growth.
NOTE: Let us teach you everything you need to know about the housing market in Charleston!
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