Charleston Currents – Doug Holmes

REAL ESTATE: A lot more attention for the Charleston area

By Doug Holmes, contributing editor | The total eclipse brought a lot more national attention to Charleston. Not that we really needed it. Being voted the number one city in the United States so many times has taken care of that.

Our real estate market has responded by building new homes all over the tri-county area. New construction is certainly a favorite among buyers. Currently one third of the homes under contract are new construction. In certain areas, that percentage is well over 50 percent. Year to date in 2017, we are up 6.8 percent in number of transactions over the same time period of 2016. It looks like we may sell 18,000 homes for the first time in our history.

by Doug Holmes · 09/18/2017 · Comments are Disabled · Real estate, Views

HOLMES: Charleston real estate market still on fire

By Doug Holmes, contributing editor | The Charleston real estate market continues to set records. A couple of weeks ago, we hit an all-time high, 452, for the number of residential properties going under contract in one week. This year will probably see the most transactions ever in our tri-county area. 2016 was the second busiest year ever, but only by a few hundred transactions.

by Doug Holmes · 05/16/2017 · Comments are Disabled · Real estate, Views

REAL ESTATE: Local real estate market continues to boom

By Doug Holmes, contributing editor | 2016 was a banner year and so far, 2017 is even stronger for real estate sales in Charleston. 2016 turned out to be our second-busiest year ever with over 17,000 residential home sales. Only 2005 was stronger with almost 18,000 sales. The median sales price reached an all-time high in 2016 of $245,000.

by Doug Holmes · 04/10/2017 · Comments are Disabled · Real estate, Views

HOLMES: Home values back where they should be

By Doug Holmes, contributing editor | Things are just going so well in Charleston right now. We are so blessed to live in such a wonderful city. We just got voted #1 City in the World by Travel and Leisure magazine!! For the 2nd time!! Boeing, Volvo, Silicon Harbor, lots of sports teams, shopping, restaurants, etc, etc. You really need to check out Lewis Barbecue downtown on Nassau and see what’s happening to that section of town. Amazing!!

by Doug Holmes · 09/19/2016 · Comments are Disabled · Real estate, Views

REAL ESTATE: Charleston continues to rocket forward

By Doug Holmes, contributing editor | The Charleston real estate market continues to outperform. We are well into the busy spring season and it’s been the busiest year ever so far.

by Doug Holmes · 05/16/2016 · Comments are Disabled · Real estate, Views

HOLMES: Charleston’s real estate market continues to rage

The real estate market in Charleston continues to rage on.

Buying activity was at unprecedented levels through the November to January months, where we normally see a bit of a slowdown. 2016 will surely set many records. New construction is booming and over 40 percent of what we currently have under contract is new construction.

by Doug Holmes · 02/08/2016 · Comments are Disabled · Real estate, Views

HOLMES: Charleston is now a real seller’s market

By Doug Holmes | The real estate market in Charleston in 2015 was awesome and record-setting. It was the third busiest year ever in sales. We sold 15,486 residential units with a record median sales price of $235,000.

by Doug Holmes · 01/11/2016 · Comments are Disabled · Real estate, Views

FOCUS: Real estate prices rising in sellers’ market

By Doug Holmes, contributing editor | Charleston real estate has recovered nicely from the torture of 2008-2011. Back then, the country was in recession and a lot of it was due to the real estate crisis caused by banks giving money away too freely. It became very difficult to sell homes and buyers had it all their way. We were mired in a buyer’s market of unprecedented proportions. It’s interesting to compare months of inventory for that market to months of inventory for the market today.

by Doug Holmes · 11/09/2015 · Comments are Disabled · Real estate, Views

HOLMES: Traditional sellers face competition from new construction

By Doug Holmes, contributing editor | As the market conditions change, so do the types of competitors for traditional sellers.

With the real estate market in Charleston and Charleston itself doing so well right now, new construction is on the rise. During the downturn of 2008 to 2012, new construction hit a low point.

by Doug Holmes · 10/12/2015 · Comments are Disabled · Real estate, Views

HOLMES: Understanding the cyclical nature of our market

By Doug Holmes, contributing editor | I had several people come up to me last week and ask me about a recent article they had read about local real estate activity in the local newspaper. They were concerned that the market here might be losing steam. The article in the local paper had done a great job at misleading them.

by Doug Holmes · 09/21/2015 · Comments are Disabled · Real estate, Views