Charleston SC Metro Real Estate: Charleston SC Homes Appreciation Rate

I can't tell you how many times I have heard from the general public here in the Charleston SC Tri-County area that. "If I would have known the appreciation rate for homes 10 years ago I would have invested heavily ."   Unfortunately  I do not have a crystal ball to predict the future, but what I do have is hard data to support that housing has indeed appreciated greatly in Charleston Metropolitan area.  The prices for each year are based on a median sales price for each area. 

 

AREA                                                  1998 ($)                 2007 ($)                   % Appreciation 

Charleston County                             138,000                  249,000                          81%

Dorchester County                             105,800                  193,750                          83%         

Berkeley County                                 89,950                  180,000                          100%

Charleston Peninsula                         215,658                 482,500                          124%

Mt. Pleasant                                     153,500                 350,000                          128%     

Sullivan's Island/Isle of Palms            318,000                 1,100,000                       246%

James Island                                    120,000                 261,000                          118%     

Folly Beach                                       230,000                 570,000                          148%

West Ashley                                     115,000                  214,700                           87%       

John's Island                                   111,200                  219,500                           97%

Kiawah & Seabrook                           176,000                  652,500                          271%

North Charleston                                57,425                  149,900                          161%

Hanahan                                           87,000                  199,000                          129%

Goose Creek                                     96,500                  174,992                           81%

Moncks Corner                                   86,900                 184,815                          113%

Daniel Island                                   214,275                 430,523                           82%

In the years to come the appreciation ratio will continue to climb , much to the dismay of fence sitters waiting for a better time to buy or invest.  In ten years those same people will be wishing they had acted in 2008 when prices were relatively "low."   

Don't be a fence sitter!  Contact me, Michael Johnson at 843-817-5299 if you are interested in buying or selling a home in the next year in the Charleston SC area!