CHARLESTON SC REALTORS ECSTATIC OVER BOEING ANNOUNCEMENT
The real estate industry is cyclical - not to be confused with seasonal - which we are accustomed to planning for each year. Here in the Charleston SC area we remain in a strong Buyers Market; you would have to have been living underground for the past 2 years not to have noticed the real estate market shift from seller to buyer - the price decline and the overall reduction in # of transactions.
A quick recap of some of the broader local numbers reveals the following (all figures extracted from the CTAR MLS database)
Year(YTD*) |
Single Family Detached(# Homes Sold) |
Median Sold Price |
Avg Sold Price
|
Price per Sq Ft. |
DOM (Days on Market) |
|
|
|
|
|
|
|
|
2007 |
8389 |
219,000 |
319,340 |
148 |
76 |
|
2008 |
5972 |
212,000 |
303,401 |
137 |
101 |
|
2009 |
5222 |
193,480 |
269,930 |
124 |
110 |
|
|
|
|
|
|
|
|
* Figures for each year reflect a year end date of October 31; All figures sourced from CTAR MLS database |
Ok so nothing really new here; real estate agents, like so many others are struggling with the country's economic situation in real time... But with the recent Boeing Announcement coupled with the passing of the EXPANDED Home Buyer Tax Credit there is an optimistic buzz in the air.
So what exactly is all the Boeing Buzz about? Well the company will be making North Charleston SC home to its second final assembly site for the 787 Dreamliner program. Based on various media sources the Charleston area impact appears to be as follows:
Boeing Impact - Charleston SC |
|
Job Creation |
|
Total $ Investment |
|
Local Training |
|
|
|
I am thrilled at the prospect of assisting so many new folks search for the perfect home in Charleston SC and transition to life in the Lowcountry. The Boeing Buzz is a welcome respite from the current economic news ... Welcome Boeing - Welcome Boeing Employees... Welcome to Charleston SC.