UPDATE: The Million Dollar Market in Downtown Charleston is Hot, Hot, Hot

When I last wrote this post it was March 16, or about two months ago.  Since then I’ve seen some action worthy of updating.  If you recall, I looked at all homes (2BR+) south of Calhoun St between $850,000 and $1,150,000 on the MLS and came up with these stats.

  • In 2008 – a total of 9 sold.
  • In 2009 – a total of 6 sold.
  • In 2010 – a total of 5 sold in the first 75 days of the year.

Well hang onto your hats.  As of today, we’ve already reached 11 sold with another 3 under contract.  In 2007, 21 sold – do you think we’ll break those numbers by year end?  It’s possible, particularly since what you can get today for $1,000,000 is much better than what you could get then.

I have to say both Ansonborough and Harleston Village have some interesting things going on.  There is only one home available right now in this range in Ansonborough, so if you are dying to live there and you don’t like that one, you might just have to wait, or ask your agent to knock on doors for you.  In Harleston Village, of the 8 homes currently on the market in this range, most have been on the market for a year or two or more.  You might be alarmed by this fact, but I’ve seen most of them, and you shouldn’t be.  Any home that is move-in ready and priced at $1,000,000 is flying off the market in 3 months or less.   A home on Queen St just went under contract after only a month on the market.

So there you have it.  It’s gettin’ spicy around here.

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2 Responses to UPDATE: The Million Dollar Market in Downtown Charleston is Hot, Hot, Hot

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