So, as for real estate, through the first quarter compared to the first quarter of 2016, sales were up 13.6% and median sales price was up to $245k, up 4.5%. It’s becoming very difficult to find a single-family home in Mt Pleasant or James Island for under $300k. Mt Pleasant median sales price is now over $200/sqft.
James Island is around $185/sqft. West Ashley is over $150/sqft. The Summerville/Goose Creek areas are the least expensive, but are now over $100/sqft. New construction is rampant all over.
They are building a new exit on I-26 to accommodate all the new growth in that area because of the new Volvo plant being built there. This past week saw almost 100 condo/townhome sales. Around 50-60 is more customary. And the rental market is just as good as the sales market. It’s a great time for Charleston.