Real Estate News, South Carolina

Market Report - Charleston South Carolina

Market Report Charleston
Published on July 11, 2012

Voted the Top City in the United States in 2011 by Conde-Nast Traveler, we wondered how to actually live in Charleston. Why do we ask? When we’re on vacation, we have all the time in world but how long are we willing to sit in traffic on a daily basis if we lived there? No matter which direction you are traveling in Charleston, road construction is all around you and it’s stressful. If folks are visiting Charleston for the first time, it could be a quick turnoff. We thought to ourself, how can we help buyer’s looking for Charleston real estate see beyond the traffic? We figured it out and it’s actually quite simple. Find the right Charleston neighborhood to live for you and stay put! 


Don’t get us wrong, we're a huge fan of charming Charleston. How can you not love the rich history and allure of the downtown waterfront? This 300 year old city is surrounded by beautiful barrier islands and pristine beaches. To get there, many of these islands require jaunts over skyscraper bridges and sometimes, several of them. For the most part, each of the barrier islands have plenty of daily conveniences such as brand name shopping, excellent schools and tasty restaurants. Both East of the Cooper and West of the Ashley have desirable areas to live. It’s the commute from one side of the city to the other that wrecks havoc on my stress-o-meter. Baby Boomers desiring to get away from traffic congestion when they relocate, will want to pick a side of Charleston and for the most part, stay put.

Here’s what’s happening at master planned communities we monitor on both sides of Charleston, along with three new communities we’ve scored:

WIld Dunes - East of the Cooper River

With summer in full swing, flip flops, bicycles and beach vacationers have migrated to Wild Dunes Resort rated 4.5 stars on Trip Advisor. This oceanfront gated South Carolina coastal community is located of the Isle of Palms just over the bridge from Mount Pleasant. The community’s second swimming pool was under construction in The Villages and is scheduled to open in September 2012. Approximately 1/3 of the community are primary residences, 1/3 second homes and 1/3 are vacation rentals. Bargain hunters searching for Charleston real estate can find two bedroom villas in the low $300k’s and three bedroom homes begin just under $500k. HOA fees have remained unchanged for 9 years. Initiation fees increased by $500 and dues by about 10%. Wild Dunes Resort score has increased from 80 to 83.

Wild Dunes Resort is on the list of Top 10 Tennis Resorts and its two golf courses are Tom Fazio Signature Design Courses. The 18th hole of the golf course overlooks the Atlantic Ocean. There are six restaurants on property, The Boardwalk Inn and six miles of white sandy beaches hard enough to ride your bike. The Isle of Palms Marina adjacent to the community offers boat rentals, kayak rentals and fishing charters. You can find Intracoastal Waterway deepwater homes leading out to the Charleston Harbor, oceanfront condominiums and golf course homes at Wild Dunes Resort. If you’re searching for where to retire in Charleston, ask us to introduce you to our trusted colleague who lives at Wild Dunes, a must see!

Daniel Island - East of the Cooper River

Along with firework celebrations, sales activity at Daniel Island has skyrocketed over the past two years. In 2009, the number of homes sold was 137. In 2011, the number of homes sold jumped by 46% to 200 homes sold. In 2011, the number jumped again another 25% to 250 and they are reporting a 55% increase in 2012 to date. We believe Daniel Island’s rapid growth is due to the fact the community amenities are built, the community is debt free and Daniel Island is a self sustaining island with excellent schools, shopping, restaurants and golf. Day excursions to the beaches, Mount Pleasant, downtown Charleston and James Island are just a hop, skip and a jump over a few skyscraper bridges.

Daniel Island is centrally located in the Charleston Harbor and is connected to the mainland. Home prices are affordable and their score remains unchanged at 83. Whether you’re searching for Charleston real estate to relocate or to find a maintenance free second home, this Charleston neighborhood offers a mix of residential options – which range from entry-level homes, townhomes and condominiums to multi-million dollar deepwater and golf neighborhood homes – and an equally diverse mix of locations and amenities. HOA fees are low beginning around $800 a year. Island residents are not required to join the Daniel Island Club. If you’re considering a South Carolina coastal community, ask us to connect you with our trusted colleague who lives on the island.

Kaiwah Island - West of the Ashley River

In case you haven’t heard, The Ocean Course at Kiawah is the location of the 2012 PGA Championship. By the way, this golf course is nicknamed ‘The Toughest Course in America.’ As I drove around the island, the streets were busy with vacationers, tournament event staff and folks searching for a home on the island. As of June 2012, there were over 100 closed transactions already this year. Out of the 100 sales, 28 were homesite closings as successful retirees plan to build here in the near future. Ocean Park is Kiawah’s newest exclusive Charleston neighborhood paralleling the Ocean Course and is being debuted to the community in August.

New resort amenities opening up at Kiawah Island this summer include three swimming pools and these are not your average backyard swimming pools. Adult zero entry pools, children’s pools and exciting water features add to the high quality amenities on the island. As with the other resort amenities, access to the pools are limited to Kiawah Resort guests and members. Kiawah Island created a new ‘Pool-only’ Governors Club Membership for category for Kiawah Island property owners at a cost of $800 a year. Construction on the River Course Clubhouse was almost complete after it burned to ground in 2010.

If buying a home with a price tag that has extra zero doesn’t intimidate you, you will be hard pressed to find a more beautiful South Carolina coastal community than Kiawah Island in South Carolina. Our trusted colleague who lives on the island keeps us posted on the hottest deals. Ask us to introduce you, so you can explore Charleston real estate with her.

Seabrook Island - West of the Ashley River

Just like Kiawah, this island community looks great and is poised to welcome the overflow of approximately 200k visitors during the week long 2012 PGA Championship event at Kiawah. Folks desiring to live the caviar lifestyle on a hummus budget will find beautiful Seabrook Island offers a high level of lifestyle amenities for almost half the price of Kiawah. Property owners still have the convenience of Kiawah’s Freshfield Market Place next door to Seabrook Island. The community’s largest tennis event, the Alan Fleming Senior Open Clay Court State Championships is scheduled for October 3-7, 2012 at the Seabrook Island Racquet Club, ranked on the list of Top 25 U.S. Tennis Resorts.

Bargain hunters in 2012 are still gobbling up the remaining foreclosures and short sales from over-extended second home buyers. We found 2 bedroom 2 bath villas priced as low as $129k overlooking the golf course. These properties can easily be included in Seabrook’s rental program. Our trusted colleague who lives at Seabrook Island can put you on an alert list for properties like these, as they quickly go under contract. Just ask us to introduce you.

NEW APPROVED COMMUNITIES:

RiverTowne Country Club - East of the Cooper River

Developed by Bobby Ginn in early 2000, this charming Charleston neighborhood is located in one of the best small towns of Charleston, Mount Pleasant. Don’t let this community’s dull entrance fool you. In January 2012, a wealthy New Yorker named Jim Feeney bought the meticulously maintained Arnold Palmer Signature Golf Course and club for $2.6 million. Overlooking the Wando River and Horlbeck River, this South Carolina coastal community has a spacious open air feel showcasing views of the award winning semi-private Arnold Palmer Signature Golf Course weaving through the center of the community. RiverTowne Country Club amenities include Jr Olympic size swimming pools, tennis courts and intriguing bicycle and walking trails.

If you're searching for where to retire in Charleston, home prices are affordable here at RiverTowne and begin in the low $300k’s. Social dues are low at $50 a month or full golf privileges are $245 a month with reciprocal privileges at 11 Affiniti Golf Clubs in Georgia, Virginia and South Carolina. Waterfront homes with boat dockage are available. Ask us to introduce you to our trusted colleague who can show you homes at RiverTowne.

Dunes West - East of the Cooper River

Atlanta’s award winning home builder John Weiland Homes is the Charleston real estate developer who took over Dunes West in 2005. The award winning golf course was designed by Arthur Hills and is gorgeous. The community has instant curb appeal as you pass through the gated entrance. I sensed spaciousness and an old world flavor as I drove through the neighborhoods as homes are not stacked one on top of the other. The roads curve and weave in and out of the neighborhoods. The community’s grand Antebellum-style clubhouse overlooks beautiful Wagner Creek. The amenities such as the golf clubhouse are slightly outdated but are elegant just the same. Tropical Storm Debby made it difficult to determine the condition of the tennis amenities and main outdoor swimming pool are which were both closed. In The Commons area near the amenities, I noticed a large number of vacancies of commercial retail space. This space was probably more desirable during the peek of sales activity at Dunes West. I wondered what the developer has in mind for this retail space.

Dunes West is directly across the street from RiverTowne Country Club. Folks desiring to live in the Mount Pleasant area have two great choices between these two coastal communities. Homes are Dunes West range from the $300k - $700k’s Comparing apples to apples, annual golf membership at Rivertowne Country Club is about half the price.

Briar’s Creek - West of the Ashley River

About a four iron away as the crow flies from Kiawah and Seabrook Island, this private golf community has caught our eye on John’s Island. The Briar's Creek golf course has won a number of awards for Top 100 Course, Best New Private Golf Course and 25 Best Places You Can Live on a golf course. Membership is strictly limited to preserve their motto of ‘no tee times needed’. This South Carolina coastal community is intimate with only about 110 homes slated at projection completion. The lot sizes are larger than most averaging well over 2+ acres and many have lake views or views of the wildlife preserves.

Luxury home builder Steven Koenig is the Charleston real estate developer behind Briar’s Creek. This luxury home community achieved recognition as an Audubon Silver Sanctuary. Affluent home buyers who don’t want to live in the hustle bustle of a beach resort community can find privacy, seclusion and pure luxury at Briar’s Creek, about 16 miles from downtown Charleston. Property owners still have access to some of Kiawah Island’s resort conveniences. You will need a warm introduction to access this private gated community. Feel free to ask us to connect you.

Keep in mind, if you’re considering a second or vacation home in Charleston, the state of South Carolina charges an extra 50% for real estate taxes verses real estate taxes on a primary residence. Let us know if you'd like an information package for any of these Charleston neighborhoods. Write info@communityfinder.com or call us toll free at 866.384.1799.