Update 3/14 – And two more properties just went under contract!
Recently I listed a great house in Radcliffeborough at 11 Marion St and promptly went on vacation three days later (with laptop in tow of course!). As Murphy’s law would have it, there were a flurry of showings while I was away that were handled by my wonderful colleagues, as well as offers – three to be exact.
Yes, I was gobsmacked too.
Then the day I got back, I had three MORE showings on it, and a FOURTH offer. We are now under contract. What is this? 2005?? In Radcliffeborough and the surrounding neighborhoods, it certainly feels like it. My clients did a fantastic job working on the house in the three months prior to listing it, so it looked beautiful, and we obviously priced it desireably, but I haven’t seen anything like this happen on a non-bank-owned home in years.
But there’s even more evidence to prove my point that Radcliffeborough, Midtown and Morris Square are hot to trot. Just check out the homes below and how many days they were on the market before they went under contract. Then I’ll tell you why I think we’ve got so much action (and you can tell me what you think too).
1124550 – Details: 12 MARBEL LN, CHARLESTON, SC – $412,900 – 92 days
1201014 – Details: 5 TALON CT, CHARLESTON, SC – $425,000 – 6 days
1204003 – Details: 11 MARION ST, CHARLESTON, SC – $435,000 – 12 days
1101440 – Details: 52 MORRIS ST, #A, CHARLESTON, SC – $439,000 – 488 days
1202475 – Details: 197 ST. PHILIP, CHARLESTON, SC – $475,000 – 1 day
1201476 – Details: 8 MARION ST, CHARLESTON, SC – $489,000 – 31 days
1203878 – Details: 6 BREWSTER CT, CHARLESTON, SC – $505,000 – 2 days
1200323 – Details: 12 BREWSTER CT, CHARLESTON, SC – $539,900 – 23 days
1200812 – Details: 42 VANDERHORST ST, CHARLESTON, SC – $595,000 – 46 days (though it had been on and off the market since 2008. But last year it never sold, priced at $600,000)
Or Click Here to go view all listings at once.
So why all this craziness?
- Time of year – This area is very popular with all of Charleston’s students, from the College of Charleston, to MUSC, and to the School of Law, because it is walking distance to the schools and Upper King Street. We see lots of parents purchasing homes for their kids to live in, and then rent later. They all want to get in before the summer.
- Upper King Street developments – You’ve read my most recent post about the upcoming developments on Upper King Street, bringing a major hotel, restaurants and retail. This should cement the rise of this area and bring more value to the real estate here.
- Money is still cheap – yeah yeah, we all know that mortgage rates are at historic lows. Even though many of the buyers are making cash offers, low rates overall aren’t hurting.
- Optimism – I feel it. Other Realtors are feeling it. The restauranteurs and retailers are feeling it. The local economists are feeling it. There is a positive energy in the air in Charleston and not a one will deny it. Will it continue? I have no idea. But you can bet your bottom dollar that I am going to revel in it while it lasts. It’s a blue sky sunny day after a long time of rain – and we all need some Vitamin D.