DREAMSTIME
C00-465295
2011 Real Estate Market
STATS FACTS
Advertising Supplement to
Contents
Areas Awendaw/McClellanville..............19 Charleston Peninsula ...................19 Daniel Island .................................20 Edisto Island..................................22 Folly Beach ....................................22 Goose Creek..................................23 Isle of Palms ..................................28 James Island ..................................28 Johns Island...................................29 Kiawah Island/Seabrook Island ...30 Moncks Corner..............................30 Mount Pleasant .............................31 North Charleston...........................32 Sullivan’s Island............................33 Summerville ..................................34 West Ashley...................................35 Western Charleston County.........35
Features Turning a Corner..........................................16 Area Map .................................................24-25 Rousing Rentals...........................................26
2011 Real Estate Market Stats & Facts Saturday, Jan. 29, 2011 The Post and Courier
Cathy Barrie Editor
Jim Parker Assistant Editor
Editor’s note: Area profiles include median sales prices. “Median” is the midpoint, which is a typical market price where half of the homes sold for more and half sold for less. *All market and median prices configured by the Charleston Trident Association of REALTORS Multiple Listing Service. All figures are year-to-date through December 2010 for single-family homes. Isle of Palms totals exclude Wild Dunes.
Kathryn Tupper Real Estate Advertising Mgr.
Laurie Hellmann Sr. Graphic Designer
Leroy Burnell Photographer
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Advertising Supplement to
Turning a Corner
Metro Charleston home shoppers, agents, builders slowly regain confidence after long downturn
BY JIM PARKER
The Post and Courier
In wake of the country’s two-year housing slump, a cynical new expression has taken root: “builder graveyards.” They’re found in most any metro area, including greater Charleston. Fields were cleared for home construction, sporting bright new “coming soon” signs and evidence of infrastructure. Then one day, the markers went away, along with any chance of a neighborhood coming soon: no swing sets, swimming pools, screened porches: just fallow land. The bright side, at least for Berkeley, Dorchester and Charleston counties, is that few of these new-home morgues can be found around here. Although hit since 2009 by all the negative forces – a spike in foreclosures, home-building slowdown, price drops – greater Charleston has withstood the real estate slide with its redoubtable grace and charm intact. “I wouldn’t say it’s healed, but is has definitely turned around,” says Liz Loadholt, chief operating officer for The AgentOwned Realty Co. Less fortunate are Las Vegas high rollers, businessmen in San Diego or Florida retirees. A few regions continue to dig out
PHOTOS BY LEROY BURNELL/STAFF
Creekside at Carolina Bay is one of the new neighborhoods going up in the Charleston area. Pulte Homes, the leading contractor in the local market, is framing the homes.
from mountains of home foreclosures and upside-down mortgages stacked as high as any Frost Belt snowfall. That’s not to say Charleston home sales and prices are soaring like they did, say, four years ago.
The backyard of this house for sale in Oakhaven has a fence, large lawn and oak trees. Home sales rose 5 percent in the Charleston area in 2010 to 8,735.
“It’s a buyers’ market,” says Rob Woodul, broker-in-charge of the Orleans Road office of Carolina One Real Estate and this year’s president of the Charleston Trident Association of Realtors. Not until halfway through the year will there be improvement in metro Charleston median home prices, now at $187,500 after peaking at $207,850 in 2007. Citing “simple supply and demand,” Woodul says home spending can’t pick up until inventories decline and the economy gains steam. Interest rates are a factor in the recovery. Historically low mortgage costs enticed shoppers able or willing to purchase. But rates edged up in mid-December and may rise a little this year. “For consumers, houses are priced low. As interest rates creep up, they are going to lose out,” Woodul says. The blip in December, though, may have encouraged some shoppers with money to buy a home. “They didn’t want to get caught (if rates surged),” Loadholt says. Confusing the process is the fact that 2010 was an unusual year. Home sales and prices rebounded early in the year, pushed
by the first-time homebuyer tax credit stimulus through its expiration in April. Then activity dove before rallying at years’ end. After the spring, “Our sales fell off some,” says Linda Collins, broker-owner of Prudential Southern Coast Real Estate in Summerville. Activity in some cases dropped below the rock-bottom 2009 season. Since then, “We have seen a turn,” she says. “I think people are feeling better about the economy. They are searching and looking.” Will Jenkinson, broker-in-charge of Carolina One New Homes who publishes a quarterly new homes “snapshot,” believes the Charleston housing economy has “turned the corner.” But it will be 2013 before the housing market gets any kind of consistency back. A key factor is what he dubs “the Boeing effect.” The aircraft maker’s North Charleston assembly plant and periphery businesses will bring in “a good four-letter word: jobs” – up to 12,000 positions in the next decade. Clemson’s high-tech wind turbine showpiece could add thousands more
Please see “Turning a Corner,” 17G
“Turning a Corner” from 16G
jobs. Separately, Tire Kingdom’s parent TCB Corp., Gildan Activewear and Moulton Logistics Management are establishing mammoth warehouses. Beefed up employment should provide more people with the funds to buy houses. “Cornerstone businesses coming in give us the ability to put (greater Charleston) on the map,” Jenkinson says. “What drives our business really is job growth,” says Jeff Meyer, chief executive of J. Meyer Homes and this year’s president of the Charleston Trident Home Builders Association. “I feel excited about what the future holds.” Meyer is the former regional chief with national chain KB Home whose company is raising homes in Deer Field Hall in Hollywood and Charleston Chase near Summerville. Woodul is seeing signs of the real estate tide coming in. “Agents in my office have seen more calls come in, folks walk in. You see buyers’ pent up. They are starting to look,” he says, and the eyeballing stretches from high-end shoppers to first-time homebuyers. Forecasts from a leading economist bode well, although the Lowcountry may be tardy latching onto the recovery.
“Charleston may be a little weaker before it takes off, in late 2011,” David Crowe, chief economist for the National Association of Home Builders, told local professionals Tuesday at the Charleston Trident Home Builders Association general membership meeting. At the same time, the Charleston market is mirroring a sluggish but unmistakable uptick in home sales, which are expected to rise 18 percent this year and 47 percent through 2012 nationwide. The region mimics U.S. numbers that indicate about 70 percent of homes sold last year were affordable to the typical buyer based on income, Crowe says. Foreclosures drag down the market for sure, Crowe says. But the rate of homes being taken back by lenders is not nearly as high in Charleston and South Carolina as in other places. A full 23 percent of all foreclosures nationwide are in Florida, and 11 states – not counting South Carolina – account for seven in 10 bank repossessions. The Charleston area saw a surge in home prices relative to household income, meaning buyers went from purchasing homes priced at about three times their annual income to 4.8 times at the height of the
Please see “Turning a Corner,” 18G
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“Turning a Corner” from 17G
Housing Snapshot
GREENVILLE:
Average Home Sales Price: $168,000 1 Bedroom – $69,000 4 Bedroom – $245,000 Average price per square foot: $101 Median household income: $41,860
COLUMBIA: (Charleston, Columbia, Greenville)
CHARLESTON:
Average Home Sales Price: $309,000 1 Bedroom – $236,000 4 Bedroom – $398,000 Average price per square foot: $163 Median household income: $43,224
Average home sales price: $155,000 1 Bedroom – $76,000 4 Bedroom – $212,000 Average price per square foot: $76 Median household income: $40,240 Source: www.homelistingsfinder.com
Did you know…
The Charleston metro area is comprised of three counties. Largest Home Builders
housing bull market. But that’s still way behind overheated cities such as San Diego, where home sale prices averaged a whopping 10 times more than the buyer’s income. There are mixed opinions about Charleston-area condo and townhome activity. “If you are trying to sell a high-end condo, it (the outlook) is not very attractive,” Jenkinson says. “It’s increasingly difficult to get financing in the condo market.” Crowe, however, says the multifamily market in the Lowcountry is holding up. Tightened lending standards have kept many homebuyers on the sidelines as they’ve been unable to swing a mortgage or pay upfront costs. But that’s starting to change, Meyer says. The Federal Home Loan Bank of Atlanta is rolling out funds
Did you know…
for its member banks, including those in the Charleston area, to offer down-payment assistance, he says. In Summerville, the high-end market is showing strength, Collins says. Coosaw Creek and Walnut Farms are the most sought-after neighborhoods, and houses in the $350,000s to $450,000s are top sellers. Collins offers an explanation: people are buying move-up homes, once priced at $500,000 or more, at a discount. She foresees more of this ahead, as job makers infuse home shoppers with confidence. “I think it’s going to be a much better year, thank goodness.” Reach Jim Parker at 937-5542 or jparker@ postandcourier.com
Charleston received first-place honors from U.S. Conference of Mayors in June 2009 for the Most Livable City in America.
(Charleston area)
1. Centex Homes (Pulte Homes) 2. Ryland Group 3. KB Home 4. Beazer Homes 5. D.R. Horton 6. Harbor Homes 7. Eastwood Homes 8. Del Webb 9. Lennar Carolinas 10. Dan Ryan Builders
NOTES: KB Home exited the market in late 2010. Del Webb is a division of Pulte. Source: Charleston Builders.com
A design specialist is your best guide in building your dream. If there is a building or home improvement project in your future, find a specialist in your area. Call the S.C. Society of the
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David Crowe is chief economist of the National Association of Home Builders.
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Awendaw is located in the Cape Romain community, surrounded by the 350,000 acres of the Cape Romain Wildlife Refuge, Francis Marion National Forest and Santee Coastal Reserve. It is named for a Sewee Indian village. Awendaw has grown slowly over the years, beginning in 1709 with the Sewee Barony, later renamed Awendaw Barony. Today, homes are spread along Highway 17 with new subdivisions emerging along the Intracoastal Waterway. Rice planters established McClellanville after their summer colony at the mouth of the Santee River was destroyed by the hurricane of 1822. Several years later the town became a year-round home to the descendants of planters. Today, the town’s principal economic activity is commercial fishing. McClellanville, located on Jeremy Creek, is home port to a large fleet of shrimp boats.
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Stats:
Since 1962 ~ A Low Country Tradition
Median home sales price: $229,950 Number of sales: 12 Average days on market: 239 School district: Charleston
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Charleston Peninsula
Did you know…
Arts, recreation and cultural opportunities are abundant in the Lowcountry.
The Charleston area was ranked one of 10 best small “Adventure Burgs” by Outside magazine in August 2009.
Facts: Founded by English settlers in 1670, Charleston has played a major part in American history since its founding. The peninsular city is what most people think of when they hear “Charleston,” and it is brimming with
historic buildings and places to shop, dine and visit. Charleston has had its share of natural disasters, including an earthquake that shook the city in 1886 and Hurricane Hugo in 1989. Through it Continued on 20G
Charleston Peninsula Continued from 21G
all, the downtown district has been a symbol for the enduring strength of the city. The Historic Downtown District has stood throughout Charleston’s history as a cultural capital of the South and the cultural heart of the city. Many consider it a “living museum.” The downtown district also boasts numerous art galleries that display the city’s impressive appreciation for the visual arts. Settings downtown include the Battery, with views of Charleston Harbor and Mount Pleasant beyond, the neighborhoods of Wraggborough, Radcliffeborough and Ansonborough, and the cobblestone streets of the French Quarter. Quiet garden courtyards form the “backyards” of single houses whose front doors open onto porches perpendicular with the sidewalks, and many a tourist-filled horsedrawn carriage can be spotted in traffic. The main shopping districts are along Market and King Streets, but businesses and eateries are sprinkled
throughout the peninsula. These busy main arteries are surrounded by street after street of quiet, stately residences, lush with crape myrtles, wisteria and the garden landscapes that put Charleston on the map.
Daniel Island
Stats:
Median home sales price: $576,988 Number of sales: 249 Average days on market: 169 School district: Charleston
Did you know…
Charleston will host the 29th annual Southeastern Wildlife Exposition Feb. 17-20.
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Facts: A newly developed community, Daniel Island is part of the city of Charleston, although it is located in Berkeley County just a few minutes’ drive from the heart of Mount Pleasant. The island offers 4,000 acres of planned community living. The island has only recently been developed. In 1947, the prominent Guggenheim family of New York purchased the entire island for cattle ranching and a family hunting retreat. When Harry Frank Guggenheim passed away, the land passed to his foundation, which sponsored a group of some of the top urban visionaries from around the country to develop a master plan to ensure the island would be responsibly developed. The island was sold to the Daniel Island Company in 1997 and today is being developed in accordance with the vision outlined in the master plan. Daniel Island offers a variety of shops as well as restaurants, banks, medical facilities and a grocery store. There are also a number of business and corporate offices in the center of town. Parks are plentiful here, with gardens and natural areas for families to enjoy. The island is home to the Charleston Battery, the area’s professional soccer team. Each year, the island hosts the Family Circle Cup Tennis Tournament, and concerts and cultural events are held at the stadium throughout the
year. The Club at Daniel Island holds events for its members and coordinates activities for both children and adults.
Stats:
Median home sales price: $574,571 Number of sales: 137 Average days on market: 129 School district: Berkeley
Did you know…
In September 2010, the U.S. Tennis Association named Charleston America’s best tennis city.
C00-465301
Edisto Island
Edisto Island is first and foremost a quiet family island with little commercialization. It’s a place devoid of traffic lights that sets the speed limit at 35 miles per hour, but there are plenty of restaurants and storefronts for the convenience of residents and visitors. The island’s rich history is connected to cotton cultivation. Sea Island cotton– one of the finest cottons ever produced – was the crop that once brought great wealth to Edisto Islanders. Many of the elegant houses and plantations remaining today are reminders of that affluent age. These sites are listed in the National Register of Historic Places, and the private homes are put on tour once a year by the Edisto Island Historic Preservation Society. From Charleston, the island is a 20minute drive along Highway 174 after its junction with Highway 17. Mosscovered oaks arch over the road as you pass historic country churches, working farms and antebellum estates. The Intracoastal Waterway at the McKinley Washington Jr. Bridge marks the gateway to Edisto Island. Edisto remains
Did you know…
one of the few largely unspoiled beach areas on the East Coast, offering a casual, relaxed setting with something for everyone to enjoy.
Stats:
Median home sales price: $344,000 Number of sales: 59 Average days on market: 220 School district: Charleston
Facts: The city of Folly Beach is located on Folly Island, a barrier island six miles long. It’s the closest beach to historic Charleston, just about 15 minutes’ drive via the James Island Connector. Although Folly Island today is a con-
tinuous island stretching from the Stono Inlet to Lighthouse Inlet, that has not always been the case. Many maps show Folly to have been considered two islands, commonly known as Big Folly and Little Folly. Historical records from the time of Continued on 23G
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Facts:
Folly Beach
Goose Creek
Facts:
The source of the name “Goose Creek” has been lost to history. Some have theorized that the area was named after the gooseneck turns in the
creek that extended off the Cooper River. Others say the name came from the prominence of geese in the waterway. It is possible that the name has Native American origins. Whatever the
source, this area of the Lowcountry has been known as Goose Creek since the late 1600s. As in many other areas in the Lowcountry, the Goose Creek area was home to various plantations, including Medway, Yeamans Hall, Windsor Hill, The Elms, Otranto, Martindales, The Oaks, Crowfield, Liberty Hall, Howe Hall and Brick Hope. The success of the area relied on rice, indigo and other crops grown on the large plantations. The city stayed largely undeveloped until after World War II, when the military began to occupy and invest in the area. Secondary commercial interests and the subsequent flow of investment capital followed. The influx of new military and civilian personnel led to a rebirth of the area and was the beginning of a new Goose Creek. In the early 1960s, the farmlands began to be subdivided to provide housing for the booming population.
A 1969 survey rated Goose Creek the fastest-growing area in the United States. Today more than 36,000 people call Goose Creek home. The new Municipal Complex built in 1999 is home to City Hall, the Police Department and the Municipal Court. The Department of Public Works continues to provide water, sanitation and maintenance service. The Fire Department has grown to staff two stations.
Stats:
Median home sales price: $156,950 Number of sales: 406 Average days on market: 95 School district: Berkeley
Folly Beach
Continued from 22G
the Civil War state that travel from Big Folly – across the neck of the island, today called the Washout – to Little Folly was possible only along the beach at low tide. Folly Island played a historic role during the Civil War. Federal troops began occupying the island in 1863. At the height of the Union occupation, more than 13,000 troops were stationed on the island. Folly Beach was devastated by Hurricane Hugo in 1989 but has since been rebuilt. Known for its eclectic vibe and small-village character, Folly Beach is home to a 1,045-foot-long pier that, along with the impressive pierhouse, was built in 1995. Visitors also flock to the beach for surfing, local eateries and various beach shops. “The Edge of America” offers everything from crabbing, fishing charters, biking and waterskiing to shag dancing on the recently renovated pier at the popular Moonlight Mixers. Folly Beach County Park, part of the Charleston County parks system, is protected from development. Bottlenosed dolphins often frolic off the
beach, and a variety of shore birds make the park their home.
Stats:
Median home sales price: $513,000 Number of sales: 40 Average days on market: 170 School district: Charleston
Did you know…
The Charleston metro area boasts one of the southeast’s most impressive medical hubs.
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The Post and Courier, Charleston, S.C., Saturday, January 29, 2011 • 25G
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24G • The Post and Courier, Charleston, S.C., Saturday, January 29, 2011
Turtle Point
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Rousing Rentals
Local leasing scene marked by high occupancy rates, modest price increases BY JIM PARKER
The Post and Courier
The way Dana Faith-Page figures it, one event rescued metro Charleston’s apartment industry: Boeing’s 2009 decision to build an assembly plant here. Along with the aircraft maker potentially hiring hundreds of people, Boeing’s move triggered an economic groundswell. Fellow manufacturers soon would follow with their own blockbuster deals. The industrial surge, in turn. benefited all kinds of businesses including the rental trade. According to Faith-Page, the ups and downs of greater Charleston’s leasing business lags large cities by about two years. So when troubles showed up in major markets in 2008-09, they should have arrived here 24 months later, or about now. The aviation giant’s move therefore protected the Charleston area rental business
PHOTO PROVIDED
The Preserve at Collins Park was one of the few newly constructed apartments in 2010 in the Lowcountry. It is located in Goose Creek.
from a slump. “We still would have been on a downswing,” says Faith-Page, property manager for Greystar at Alexan Wellborn Village in Ladson and officer in the Charleston
Apartment Association. Instead, “It’s improving.” The apartment leasing industry is no small venture in the Charleston area. According to a 2010 study from Real Data
Inc. and profiled on the Charleston Regional Development Alliance website, metro Charleston has more than 29,000 rental apartment units. That compares with about 50,000 houses, condos and townhomes in the tri-county area. Average rental rates are $755 a month, according to the Real Data survey in 2010. But they can vary widely, from $659 in North Charleston to $1,014 in Mount Pleasant for a two-bedroom apartment. (The website myapartmentmap.com, which claims to use figures no more than 30 days old, listed two-bedroom averages that were about 10 percent higher than Real Data but showed a similar rate spread by Lowcountry community.) Rentals nationwide have been impacted by the housing slowdown. Faith-Page says, “I don’t think it has hit quite as hard (in the Charleston area) as larger cities such as
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“Rousing Rentals” from 26G
Atlanta.” According to Carolina One Real Estate’s rental market snapshot, there were 5,594 rental listings in 2010 and 4,699 rented-up 20 percent from a year earlier. Similarly, vacancy rates have stayed low, which may be a strong indicator of a good year in 2011. “It’s truly for us all about the occupancy,” Faith-Page says. Typically, apartments aren’t as full in the winter months but Alexan Wellborn maintained a 93 percent occupancy rate in January. “Honest, this time of year, we didn’t see a cyclical downturn.” If the usual upswing takes place in the spring and summer, “We’ll have a wonderful year,” she says. The new manufacturing jobs contributed to leases from people moving to the Charleston area and relocating within the region. “We are seeing new employees, and companies who laid off large counts of people restaffing,” Faith-Page says. Apartments likely are seeing more activity, too, because of the housing slide. Lenders have tightened up mortgage qualification requirements, so fewer people can afford the down payment or other costs needed to buy a home. Instead, they are renting.
Residents aren’t as financially savvy and able to absorb rent hikes as they have in the past. “They may have a job but are not making what they were,” Faith-Page says. In the next year or two, “I think you will see a little movement (in rents).” The slight
PHOTO BY LEROY BURNELL/STAFF
Alexan Wellborn Village in Ladson, a 312-apartment home property noted for its stylish kitchens, underwent a management shift last fall with Greystar taking over day-to-day operations.
Welcome to Charleston!
rise in lease prices will be accompanied by healthy occupancy rates. As long as vacancies are minuscule, apartment managers won’t be that worried about filling the units. Therefore, expect fewer concessions – such as offering the first month or two free – to lure tenants. One multifamily sector that hasn’t seen at least a mild economic boost is apartment development. “I think it will be the end of 2012 before there’s any activity with new properties coming out,” Faith-Page says. Exceptions last year include the new 40unit seniors complex Preserve at Collins Park off Red Bank Road in Goose Creek, West Yard Lofts on the former Navy Base property in North Charleston and the under-construction Seven Farms Village affordable-housing on Daniel Island. Existing apartment complexes may change hands, though. “I see some change of ownership.” Looking short-term, Faith-Page is realistic about the local apartment market. “I think 2011 is still going to be recovery mode.” Reach Jim Parker at 937-5542 or jparker@ postandcourier.com
RENTAL OUTLOOK (Greater Charleston, 2010-11)
Average monthly rents by location: (Two-bedroom units) Awendaw $600 Goose Creek $721 North Charleston $731 Ladson $801 Johns Island $812 Charleston $964 Mount Pleasant $1,152 Isle of Palms $1,530
Average monthly rental rates: (Charleston) Studio One-bedroom Two-bedroom Three-bedroom
$734 $800 $964 $1,365
Rental history
(Charleston, average by month) August $872 September $920 October $831 November $877 December $949 January $964 Source: www.myapartmentmap.com
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James Island
Isle of Palms
Originally named Hunting Island and later Long Island, the Isle of Palms had no permanent inhabitants until the late 19th century when locals began to recognize the island as a refuge from the summer heat and tempo of Charleston. The first home on Long Island was a summer getaway built by Nicholas Sottile in 1898. In 1899, J.S. Lawrence purchased the island and renamed it the Isle of Palms. A bridge link to the islands was established in 1946. At that time, developer J.C. Long of The Beach Company purchased most of the island. He provided low-cost housing to veterans returning from World War II, and the Isle of Palms slowly developed into a residential bedroom community of greater Charleston while still maintaining its charm, natural beauty and desirability as a summertime getaway. One of the most famous resorts in the Lowcountry is located on Isle of Palms. Originally called the Isle of Palms Beach and Racquet Club, the resort was renamed Wild Dunes Beach and Racquet Club in 1984 and today is simply called Wild Dunes. With nationally recognized golf courses and other resort amenities, Wild Dunes has become a major vacation locale on the South Carolina coast. In 1989, Hurricane Hugo destroyed many homes and businesses on the island, and in the years since, a number
of large new beach homes have been built. In the business district, popular Palm Boulevard has recently undergone a facelift with more parking and palm trees. In 1993, the new Isle of Palms Connector opened, connecting the island directly to Mount Pleasant near I-526.
Facts: James Island is a large triangular sea island that is framed by Wappoo Creek and Charleston Harbor on the north, Morris Island and Folly Beach on the east, and the Stono River and Johns Island on the west.
During the 19th century, plantations were built on James Island, along with the village of Secessionville, a summer retreat for plantation owners. The first shots of the Civil War were fired from the island’s Fort Johnson onto Fort Continued on 29G
Stats:
Median home sales price: $749,000 Number of sales: 121 Average days on market: 185 School district: Charleston C52-464317
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Johns Island
Facts:
Johns Island is located due west of Charleston. For most of its history, Johns Island has been a coastal farming center, and it still boasts vast expanses of lush, unspoiled acreage only recently available to prospective
real estate buyers. The island serves as a gateway for its more famous neighbors, Kiawah and Seabrook. Although technically an island because it is surrounded by the Intracoastal Waterway, Stono River, Kiawah River and Bohicket Creek,
Johns Island is protected from the ocean by other islands surrounding it. Laced with tidal creeks and surrounded by rivers and waterways, the island offers a variety of waterfront lots, and newly developed neighborhoods overlook Wadmalaw Sound and the Kiawah and Stono Rivers. Winding country roads bordered by great live oaks sport a series of game preserves and newly designed golf courses. Abundant local farms are still in operation, growing tomatoes, cucumbers, lettuce, melons, winter greens and more. Year-round produce is offered in roadside markets and at restaurants on the islands and beyond. The famous Angel Oak is located here off Bohicket Road, the main highway through the island. This massive, 1,500-year-old live oak is said to be the oldest living tree east of the Mississippi. Johns Island boasts a handful of fine restaurants and a number of small shopping areas near the heart of the
growing population centers. Bohicket Road has been widened near the entrances of Kiawah and Seabrook, and two new bridges have been constructed, further attracting development.
Stats:
Median home sales price: $240,827 Number of sales: 149 Average days on market: 99 School district: Charleston
Did you know…
The largest limb of the Angel Oak on Johns Island is 89 feet in length.
James Island Continued from 28G
Sumter in 1861. All but a handful of houses were destroyed during the war, and the island reverted to a rural farming area, much like neighboring Johns Island. Laced with creeks and affording some spectacular views of downtown Charleston, James Island later became somewhat of a real estate secret just off Charleston Harbor. The island began experiencing renewed growth during the 20th century, but the opening of the James Island Expressway in 1993 suddenly made James Island and the other islands west of Charleston prime locations for new development. Today many business and residential areas cover James Island, making it a popular place for a family-oriented lifestyle in close proximity to the city. The island’s wide variety of housing options draws people from all walks of life. James Island has all the conveniences and most of the pleasures of a larger city. There are many options for dining and shopping, as well as various recreational outlets. The large James Island
County Park features a playground, picnic facilities, kayak rentals, fishing, a waterpark and miles of walking and biking trails. The park also hosts several events throughout the year including the popular Holiday Festival of Lights from mid-November to January.
Stats:
Median home sales price: $240,000 Number of sales: 406 Average days on market: 110 School district: Charleston
Did you know…
There are 643 acres at James Island County Park.
C52-464760
Kiawah Island/Seabrook Island Moncks Corner
Facts:
Kiawah Island is a private residential resort community 21 miles south of Charleston. This 10,000-acre barrier island, just 1.5 miles across at its widest point, has more than 10 miles of beachfront. Approximately 4,000 properties within 13 neighborhood villages and 28 regime associations make up the island. Most regimes (some are known as homeowners associations, or subassociations) are governed by their own covenants and boards of directors. Independent management companies administer the business requirements of these properties. Named for the Kiawah Indians who inhabited the island into the 1600s and deeded to George Raynor in 1699 by the Lords Proprietors (Charleston’s founding fathers), the island has changed hands only four times since then. The Town of Kiawah Island takes an active role in managing the natural resources on the island. From the wooded uplands to the beaches, animals thrive in the rich natural environment. Deer, bobcats, gray foxes, raccoons, river otters and ospreys are just a few of the many animals that Kiawah visitors might see. Seabrook Island is 23 miles south of the city of Charleston. It has 2,200 acres of lush maritime forest, beautiful salt marshes and pristine beaches. The Atlantic Ocean provides 3.5 miles of
Seabrook Island’s shoreline. Another mile of sandy expanse extends by the wide tidal North Edisto River. The island boasts two championship golf courses, a tennis center, horseback riding, award-winning dining, a fitness center, shopping, a deep-water marina, children’s programs and many other world-class amenities. Emphasis has been placed on ensuring that the natural resources of the island are protected and maintained. Recently, the Club at Seabrook Island’s golf courses achieved the distinction of becoming South Carolina’s first Fully Certified Audubon Cooperative Sanctuary. The Town of Seabrook is the municipal body and is responsible for issuing business licenses and various types of permits. The town interfaces closely with other governmental entities, including the County and City of Charleston, the town of Kiawah Island and various Johns Island groups. Town Hall is located across the street from the Seabrook Island Real Estate office.
Stats:
Median home sales price: $689,500 Number of sales: 73 Average days on market: 233 School district: Charleston
Facts: Many historians agree that Moncks Corner, an early trading center dating back to 1738, took its name from landowner Thomas Monk (despite the difference in spelling). The town developed on the southeast corner of Monk’s Mitton Plantation. In its early days, Moncks Corner was more of a trading post than a town. There were three or four taverns and five or six stores. The usual practice of the area’s Santee River planter was to take his crops to Moncks Corner, sell them there, receive cash or goods in exchange, dine and return home in the afternoon. It was not until 1856 when the Northeastern Railroad laid its tracks over portions of the former Mitton and Fairlawn plantations that five acres were set aside for a depot and the center of a new Moncks Corner. The town today has a population of around 6,000 people. With two medical facilities and Santee Cooper’s modern high-rise office complex, Moncks Corner serves as the Berkeley County seat. The citizens of Moncks Corner and the nearby area of Pinopolis enjoy outdoor activities such as boating, swimming, waterskiing, hunting and fishing. The town hall is located on Carolina Avenue with the fire department next door. Life around the town is quiet and easy. Moncks Corner is the site of many historic churches, and the dam and locks of the mighty hydroelectric
power plant are nearby. Mepkin Abbey, formerly a rice plantation, is a Cistercian Order (Trappist) monastery with a beautiful garden and chapel open to the public. Many fine examples of early rice plantations remain along the rivers and are still serving as residences.
Stats:
Median home sales price: $152,430 Number of sales: 492 Average days on market: 72 School district: Berkeley
Did you know…
The Charleston metro area reaches 50 miles inland with 90 miles of oceanfront.
Mount Pleasant
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First inhabited by the Sewee Indians, Mount Pleasant’s first English settlers arrived in 1680. One of the earliest maps of the area calls it “North Point.” In 1770 Andrew Hibben obtained a ferry charter and bought land from Jacob Motte on the south side of Shem Creek. Hibben’s ferry was the first to connect the town with the city of Charleston. A newspaper article in 1889 reported, “The health of Mount Pleasant has been unprecedentedly fine for the past year. The town council expends about $2,000 on the streets and other necessary improvement, and the money is so judiciously applied that Mount Pleasant, in regard to general appearance, is one of the model towns of the state.” Today, with the crowning achievement of the Ravenel Bridge linking
Mount Pleasant to Charleston, the town is known for its beautiful communities, great shopping and dining options, and proximity to beaches. With a population of more than 59,000, the town of Mount Pleasant boasts one of largest municipalities in the state. Money Magazine ranked it at No. 70 in its 2006 list of the 100 Best Places to Live in the United States. Continued on 32G
Stats:
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Median home sales price: $355,000 Number of sales: 1,048 Average days on market: 107 School district: Charleston
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North Charleston
Facts:
Since the early 1900s, the North Area has been an industrial community with its growth geared directly to the industry, military and business communities. The first industry in the North Area was E.P. Burton Lumber Co. In 1901, Charleston Naval Shipyard was established by the U.S. Navy in the North Area. Shortly thereafter, the General Asbestos and Rubber Co. built
the world’s largest asbestos mill under one roof. In 1912, a group of Charleston businessmen formed a development company, bought the Burton tract, and began to lay out an industrial city. Park Circle was created, with areas reserved for industrial, commercial and residential usage. Park Circle was planned as one of only two garden city models in the United States, and most of the original planning concept remains today. During World War II, substantial development occurred as the military bases and industries expanded. Citizens in the area soon desired direct control over future development, and as a means of bringing government closer to the people, an incorporation referendum was held on April 27, 1971. On June 12, 1972, after a series of legal battles, the S.C. Supreme Court upheld the referendum results and North Charleston became a city. North Charleston’s many neighborhoods offer a wide range of amenities, including golf, fishing, tennis, playgrounds, schools, day care, dining and
recreational opportunities. This thriving region boasts a 13,500seat coliseum that is home to the ECHL’s Stingrays. North Charleston also offers a convention center and a performing arts center, numerous hotels, and abundant shopping, including Northwoods Mall and Tanger Outlet Center.
Stats:
Median home sales price: $136,028 Number of sales: 588 Average days on market: 93 School districts: Charleston and Dorchester 2
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Mount Pleasant Continued from 31G
At the heart of Mount Pleasant is the “Old Village,” a National Register Historic District with gracious homes from the colonial and antebellum periods. The town is also home to one of the world’s largest naval and maritime museum complexes, Patriots Point, which is dominated by the famous World War II aircraft carrier Yorktown and houses several other ships as well.
It is one of the top tourist destinations in South Carolina.
Did you know…
August is the average wettest month in the Charleston area.
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Sullivan’s Island
Facts:
Sullivan’s Island, a barrier island north of Charleston Harbor, is home to approximately 2,000 residents in half as many households. These are primarily full- or part-time citizens who enjoy the relaxed lifestyle of the island. There are very few short-term rentals and no hotels, motels, bed-and-breakfasts, or other transient lodgings. The town, incorporated in 1817 as Moultrieville, did not allow lean-tos or shacks then or now. At that time lots were required to have a minimum of half an acre, and the same is true today. Sullivan’s Island is distinctive because the beachfront lands that have built up over the years are owned by the town and held in a perpetual easement by the Lowcountry Open Land Trust, thus protecting the natural environment along the Atlantic Ocean. The island has a long military tradition of protecting the harbor from invaders, and many wonderful histories capture those stories. The island has played a part in fiction as well. Edgar Allan Poe was stationed at Fort Moultrie from 1827 to 1828 and used the island as the setting for his short story “The Gold Bug.” Remnants of the military are abundant in now-privately held military housing; even former fortifications are now single-family residences. Many of these historic homes have withstood the test of time and ravaging weather. The Sullivan’s Island lighthouse, built in 1962, is a 140-foot-tall triangular
Priciest Homes for Sale
(Greater Charleston, on the market as of January)
1. 32 Legare St., Charleston: 17,142 sq. ft. – $23,000,000 2. 300 Medway Road, Goose Creek: 6,208 sq. ft. – $19,000,000 3. 32 Battery, Charleston: 10,756 sq. ft. – $9,875,000 4. 2 Water St., Charleston: 7,453 sq. ft. – $8,985,000 5. 2340 Bohicket Road, Johns Island: 2,400 sq. ft. – $8,900,000 building that boasts an elevator instead of the typical spiral staircase. It stands as a prominent symbol of the island and can be seen from various points surrounding Charleston Harbor.
Stats:
6. 118 Ocean Blvd., Isle of Palms: 8,100 sq. ft. – $7,100,000 7. 101 Venning St., Mount Pleasant: 5,156 sq. ft. – $7,000,000 8. 21 King St., Charleston: 10,882 sq. ft. – $6,850,000 9. 40 Waterway Island Dr., Isle of Palms: 8,632 sq. ft. – $6,750,000 10. 473 Creek Landing St., Daniel Island: 7,100 sq. ft. – $6,499,000 Sources: Charlestonhomelistings.com, Realtor.com
Top Sellers
Median home sale price: $1,471,250 Number of sales: 22 Average days on market: 169 School district: Charleston
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(Charleston area, July-December 2010)
1. 100 Beach St., Mount Pleasant: 7,014 sq. ft. – $7,500,000 (Aug. 18) 2. 99 Surfsong Road, Kiawah Island: 5,350 sq. ft. – $6,425,000 (Oct. 6) 3. 56 Surfsong Road, Kiawah Island: 3,619 sq. ft. – $4,300,000 (Dec. 31) 4. 354 Ralston Creek St., Daniel Island: 6,000 sq. ft. – $3,750,000 (Sept. 3) 5. 132 Church St., Charleston: 5,180 sq. ft. – $3,325,000 (Aug. 2) 6. 78 East Bay St., Charleston: 4,472 sq. ft. – $3,300,000 (Dec. 29) 7. 114 Flyway Drive, Kiawah Island: 4,960 sq. ft. – $3,275,000 (Sept. 21) 8. 19 Beachwood East, Isle of Palms: 5,000 sq. ft. – $3,100,000 (Nov. 5) 9. 43 Surfsong Road, Kiawah Island: 4,981 sq. ft. – $2,950,000 (Sept. 8) 10. 2 Gibbes St., Charleston: 6,029 sq. ft. – $2,912,000 (Sept. 9). Source: www.Realtor.com
simply affordable.
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Did you know…
Travel & Leisure magazine in 2010 ranked Charleston as the friendliest city in America.
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Stats:
Median home sales price: $167,000 Number of sales: 1,023 Average days on market: 84 School districts: Dorchester 2 and Berkeley
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Summerville’s name evokes its history. Situated on a pine-forested ridge, the city was first inhabited in the late 1700s as Charlestonians and other inhabitants of the Lowcountry “summered” there to seek respite from city heat, mosquitoes and disease. From May to September, plantation families along the nearby Ashley River and other coastal areas headed for the higher elevation in the area to live temporarily, or “maroon,” in the tiny forest colony soon dubbed Summerville. Other pioneer residents descended from those 1696 Puritans who established the nearby settlement of Dorchester, thus endowing Summerville with a heritage spanning three centuries. Summerville’s beauty is mirrored in its motto, “The Flower Town in the Pines.” Since the early 1900s, visitors have flocked to the town during early spring to enjoy the millions of spring blossoms, particularly azaleas, in private and public gardens, including the midtown Azalea Park. The town is known for its unique shops lining an “old-fashioned” Main Street, but its access to I-26 has also attracted larger chain stores. Ultimately, it’s the community’s charming neighborhoods with a variety of housing styles and price ranges that make it so desirable a location in the Lowcountry. The town’s population hovered
around 3,000 for nearly a century, not reaching 6,000 until the late 1970s. Then, as a bedroom community for the larger urban centers in the area, the charm of Summerville resulted in a doubling of the population in the 1980s. It continues to attract families, business people and military personnel as a great place to live and work.
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Western Charleston County
West Ashley The area west of the Ashley River has intermingled businesses with residential communities. Shopping at Citadel Mall – one of the largest malls in the Charleston area – or at a number of strip centers that line the major thoroughfares, offers close-at-hand conveniences to residents. The West Ashley area is also blessed with its share of eating establishments. Because new developments are still cropping up in this area, the choices for residential living are numerous, from condominiums and duplexes to large homes with dock and river access.
Facts:
The city limits of Charleston extend across the Ashley River to an area known as West Ashley. In fact, it is the place where the English colonists established the first permanent settlement in the Carolinas in 1670 along the banks of the Ashley River. Among the area’s historic treasures are three of the region’s most visited plantations: Drayton Hall, Middleton Place, and Magnolia Plantation and Gardens. But in addition to this strong presence of history, West Ashley is also a thriving urban community with a population that has more than doubled since 1960 – a testament to the area’s livability. Some of the neighborhoods closest to downtown Charleston feature charming brick cottages, many of which have been renovated in recent years. Other established neighborhoods wind through hundred-year-old live oak trees, with some home sites that feature sweeping views of the marsh or access to the Ashley River.
Stats:
Facts:
Median home sales price: $219,000 Number of sales: 647 Average days on market: 83 School district: Charleston
Did you know…
The Charleston area ranked among the nation’s top 10 by Forbes in June 2009 for Best Cities for Technology Jobs.
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Adams Run is part of St. Paul’s Parish, which was part of Colleton County until 1911. It is located in rural Charleston County near Hollywood and Ravenel. The cultivation of rice was historically the main industry in this area. Adams Run is located near the ACE Basin, home of a National Wildlife Refuge that was established in 1990 to preserve and protect the area. The Ashepoo, Combahee and Edisto rivers give the basin its name. Hollywood, located on the banks of the Stono River in Charleston County, is said to have been named for the holly trees in the area. Both Revolutionary and Civil War battles took place here. A ferry crossing put the town on the map and served area plantations by transporting goods and crops. The Charleston and Savannah Railroad formerly ran through Hollywood. The line was established in the late 1850s and abandoned in the late 1960s. The 643-acre Dungannon Plantation Heritage Preserve is located in Hollywood. It was acquired to protect one of the top nesting colonies of the federally endangered wood stork in South Carolina. It also provides nesting and feeding habitats for numerous other birds, including osprey, anhinga, great egrets, and great blue herons. Dungannon Heritage Preserve contains several excellent trails where visitors can walk through the property with ease.
Meggett was incorporated as a town in 1976. In the early 20th century, Meggett thrived on the farming industry that surrounded it. A spur of the Atlantic Coast Line Railroad ran through Meggett and terminated at a large wharf on Yonges Island. Produce was shipped by water and rail. Today, the town offers the benefits of a rural setting that’s still within an easy drive of Charleston and Summerville. Ravenel has a long rural history and, like nearby Meggett, was once known as the cabbage patch of the world. During the Civil War, wounded Confederate soldiers were treated in the area under three oak trees, the largest of which has become known as the Hospital Oak. The town originally grew up around a Charleston and Savannah Railroad water tank and was later also a sawmill town. It was incorporated in 1949.
Stats:
Median home sales price: $250,000 Number of sales: 73 Average days on market: 137 School district: Charleston
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Laura V. Fox
Stan Huff
Carolina One Real Estate Century 21 Properties Plus 345-1161 843 327-0384
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AgentOwned Realty 693-2050
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Carolina One Real Estate 843 452-9708
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Peggy Leete
JoAnn Leigh
Carolina One Real Estate 532-7923
Tom Murph
Beachside Real Estate 696-1111
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Century 21 Properties Plus 296-6442
Jan Snook
Holly Culp
Agent Owned Realty 270-2586
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Angie Johnson Delores Johnson Katrina Johnson Angela D. Jones
Daniel Island Real Estate 971-3522
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AgentOwned Realty 224-1119
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Sandy Murphy
David Nieves
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Pat Roberts
AgentOwned Realty 709-8020
Zaw Lwin
Beth Bird
Maggie Curtis
Coldwell Banker United 693-8207
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Kathy Sweet
Toby Spahr TREASURER Carolina One Real Estate 532-1751
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Keller Williams Island Realty 425-8273
Wendy Delancy
Vickie Griffin
Mary Guess
Dawna Niklaus Leesa Northrup
Cheryl Taylor Keller Williams Charleston Island 442-9820
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AgentOwned Realty 412-2221
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Carey Tipple
John Denning
Wild Dunes Real Estate 886-2145
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Steve Kaul
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Kim Malloch
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Carolina One Real Estate 709-5869
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Elaine Bucholtz
Joe Eddleman
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Tommy Lovett PRESIDENT
Debra Whitfield
Coldwell Banker United 843 367-4845
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Carolyn Parsons
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Keller Williams Realty 452-7642
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Daniel Island Real Estate 814-1274
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Coldwell Banker United 270-8780
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Carolina One Real Estate 843 412-4447
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Keller Williams Realty 224-9091
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L EADERS East Cooper Real Estate
Steve Young
Coldwell Banker United 442-3262