Charleston to see 20% increase in values by 2014?

BusinessWeek just put out an article today, outlining the top 10 markets in the U.S. and then identifying the strongest areas in each state.  They selected Charleston for South Carolina (are you surprised? :))  and here’s what they had to say.  Note that they claim the bottom will be 4th quarter of this year – which barring any national economic disaster is mostly the sentiment around here.

South Carolina

Biggest home price increase projected in 2014: Charleston-North Charleston-Summerville metro

Forecast 4-year price increase: 19.6 percent
Current median price: $198,000
Prices to reach trough in: 2010 Q4
Median family income: $58,400
Population: 659,190

The market shows stability and minimal yet healthy growth, according to the Charleston Trident Association of Realtors. So far this year, 31 percent more homes sold in the Charleston area than in the first half of 2009, and median prices have remained stable, the association report

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