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If you are looking to live in a historic southern city with a ton or charm, Charleston may be your answer. Sitting on the South Carolina cost, the real estate market is primed for growth.
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real estate, charleston, south carolina, market, sc, homes, house, appreciation
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If you are looking to live in a historic southern city with a ton or charm, Charleston may be your answer. Sitting on the South Carolina cost, the real estate market is primed for growth.
The Real Estate Market in Charleston, South Carolina
Charleston is located at roughly the mid point of the South Caroline coastline on the Atlantic Ocean and has a population of just under 100,000 people. A city with a lot of history, Charleston has an old south feel with all the amenities you would expect in a modern city.
The average Charleston home sells for about $180,000, a figure that more or less matches the national average. Home appreciation rates are a bit below national averages, but still a healthy 7.4 percent. More importantly, the appreciation rate may be primed to increase dramatically over the next few years. The reason for this is job growth.
Any real estate market is heavily influenced by job growth in the local economy. The more job growth, the more demand there will be for workers. As more people move into the area to fill that demand, the higher home prices will go. Currently, Charleston is experiencing strong job growth. More importantly, the growth rate is expected to be nearly four times as high as the national average for the next four years. This signifies the beginning of a strong real estate market for Charleston properties.
The City of Charleston is a pleasant place because of the coastline location. It also offers the basic amenities you would need living in any city. Schools meet or exceed most national averages with higher education being particularly strong. Health costs are about equal to the national average, but you will find nearly twice as many doctors in Charleston. If you are going to have a health problem, this is the place.
The climate in Charleston is fairly mild since it is located on the ocean. You can expect summer temperatures to top out in the low nineties, while winter temperatures can be in the forties. You are going to get rain about 30 percent of the time with 50 inches being the annual average.
All and all, Charleston is a good place to live and the real estate market looks stable with robust growth on the horizon.