Summerville Market Update

Dated: 08/12/2015

Views: 1610

If you are considering relocating to the Summerville area, there are a lot of changes happening around town.  With the most recent announcement of Cabelas new home in the Nexton Development, there are numerous retail and restaurants developing in the area along Main Street.  The projected growth in Summerville is going to be met by new construction developments, like Nexton and Carnes Crossing.  So what is it going to cost to live in Summerville and how fast are homes going under contract?

In the last week 70 Summerville/Ladson single family homes went under contract that were listed between from$60,000-$495,000. It appears that right now, the median price to purchase in the Summerville area is around $192,000,$103/sqft.

What does this mean for first time home buyers? It means increased home prices (up 3.3%), and possibly by the end of the year, higher interest rates.  According to market reports, the overall market showed an average sales price of $230,000.00.  So if you are considering buying or selling a property in the Summerville area, homes are moving at an impressively rapid rate and properties are appreciating!  If you'd like more information contact me today!

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Hank Johnson

Hank Johnson, a graduate of The Citadel, has a proven track record as a CFO, businessman, Entrepreneur and real estate investor. Hank has been active and successful in the Charleston community for ove....

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