Keeping it real estate

2022 predictions for Charleston real estate

Are you thinking of buying in Charleston? | Photo by @charlestonmediacompany

There aren’t enough flame emojis on the Internet to describe the Charleston housing market. In November 2021, the median single-family home in Charleston County sold for $500,000, a 13.6% jump from the previous year. Yowza. 🔥

For those hoping to dip their toes in the home buying waters soon, it helps to know what trends to expect. Put on your floaties, and let’s hear what the local experts predict.

Look out for the ‘burbs

Owen Tyler, managing broker and broker in charge at The Cassina Group, said the suburbs are viable option for many in light of limited space to build in Charleston. Johns Island, the Awendaw/Mount Pleasant corridor, Cainhoy, Nexton, and Goose Creek are trending + offer a good bang for your buck.

Drew Grossklaus, sales director for William Means, said that areas outside of downtown have been booming with people from New York, California, and Chicago as remote work has risen. Drew doesn’t expect this trend to change anytime soon.

Don’t give up on Charleston

Owen said over the last two decades, the local real estate market has proven to be resilient due to Charleston’s high quality of life. Prices are steady + available properties remain on the low end. “At the end of the day a well-priced property in good condition will always sell, it just takes longer than it did this time last year,” said Owen.

Worth it to wait?

Buyers in the Charleston area may want to take the leap today in light of potentially increasing prices and more options now than there were a few months ago. Both Owen + Drew said that while interest rates have risen lately, they are still historically low. Drew doesn’t see interest rates continuing to increase in 2023.

Keep reading for advice and predictions on renting, local hotspots, and supply + demand.

Give us your predictions: Over the next six months, the real estate market here will…

A. Heat up even more
B. Level off and stay about the same
C. Start to cool off a bit
D. I have no earthly idea

LET US KNOW

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Thursday, Nov. 24

Fried Turkey Glide 5K | Thursday, Nov. 24 | 9-11:30 p.m. | Garris Landing, Bull Island Road, Awendaw | Free | Take part in this 13th annual turkey trot in Awendaw — head to Garris Landing at 9 a.m. to register.
Holiday Festival of Lights | Thursday, Nov. 24-Saturday, Dec. 31 | 5:30-10 p.m. | James Island County Park, 871 Riverland Dr., Charleston | $23.81+ | Explore Santa’s Village and Winter Wonderland under magical twinkling lights and enjoy holiday treats.

Friday, Nov. 25

Cleats World Cup Watch Party | Friday, Nov. 25 | 12 p.m. | The Refinery, 1640 Meeting Street Rd., Charleston | Free | Cleats, a sporty sandwich shop opening soon in The Refinery, is hosting a World Cup watch party for the USA vs. England match.
Dear Evan Hansen | Friday, Nov. 25-Sunday, Nov. 27 | Times vary | North Charleston Coliseum & Performing Arts Center, 5001 Coliseum Dr., North Charleston | $57+ | This Tony and Grammy Award-winning play is a contemporary musical about life and the way we live it.

Saturday, Nov. 26

The Sound of Charleston | Saturday, Nov. 26 | 7-8:15 p.m. | Circular Congregational Church, 150 Meeting Street, Charleston | $16-$28 | Hear the music of Charleston’s rich history coming to life in the historic Circular Congregational Church during this live 75-minute concert.

Sunday, Nov. 27

Christmas Tree Lighting | Sunday, Nov. 27 | 7-8 p.m. | Folly River Park, Center Street, Folly Beach | Free | Kick off Folly Beach’s holiday season with the annual tree lighting at River Park.

Saturday, Dec. 3

Friends + Family Jewelry Sale | Saturday, Dec. 3 | 10 a.m.-2 p.m. | French Quarter Inn, 166 Church St., Charleston | Free | Treat your loved ones (or yourself) to 50% off from The Cargo Hold, Inc. and shop fine sterling silver jewelry, including Southern Gates® pieces, Italian bracelets, leather jewelry + more.*

We have a monthly guide filled with events + activities you can plan for in advance. Click the button below to bookmark ideas for upcoming date nights, family outings, and time with friends.

100+ MORE EVENTS

Weather

69º | Cloudy | 23% chance of rain

Sunrise + sunset

Rise: 6:57 a.m.
Set: 5:16 p.m.

Tide

Low: 1:29 a.m. + 2:17 p.m.
High: 7:54 a.m. + 8:05 p.m.

Coming Soon

Downtown restaurant Victor’s Seafood & Steak plans to expand into the space next door in Hutson Alley. The dining room will be located in the former Michael’s on the Alley starting Thursday, Dec. 1. Make a reservation and head to 39F John St. (Charleston Regional Business Journal)
Bohemian Bull Tavern and Beer Garden is headed for North Mount Pleasant. This James Island brewery plans to open a new location at 2668 Hwy. 17 N. and is also coming soon to Greenville. Stay tuned for the grand opening date. 🐂

Biz

Summerville’s KION North America, which produces material handling equipment, was named Innovator of the Year at the Manufacturing Excellence Awards. The company recently focused on new strategies + culture and doubled its market share from 2020 to 2021. 🏆 (CRBJ BizWire)

Civic

Dorchester County plans to fund road + trail projects with $10 million worth of bonds from the transportation tax referendum that passed Monday night. Projects include repaving Midland Parkway and extending Eagle Creek Trail to a future park. (WCSC)

Holiday

Happy Thanksgiving. However you celebrate, make today a day of rest, reflection, and community. We here at CHStoday are thankful for our city and the fact that there’s always plenty to talk about. 🦃

Announced

If you love this newsletter (and supporting local) as much as we love strolls in Allan Park, morning lattes from Mercantile and Mash + Saturdays spent grabbing lox bagels from Ruby’s Bagels (which is a lot) — we’ve got something for you: CHStoday just launched a membership program. Learn more + sign up. 🎉

Travel

Traveling for the holidays? Pro tip: Get bonus gas rewards when you buy participating items at Lowes Foods. Learn more.⛽ *

Shop

Amazon’s best deals of the year begin today and last just 48 hours. Snag gifts now for everyone on your list — like this portable waterproof speaker and this Bluetooth movie projector. Plus, select Amazon Fire TV devices are up to 50% off for a limited time.*

Content marked with an * is brought to you by our advertising partners and helps make this newsletter free.

THE WRAP

Today’s issue was written by Tatum.

Editor’s pick: Any other “Outer Banks” fans out there? I heard Madelyn Cline, who plays Sarah in the Netflix series filmed in Charleston, is starring in the new Knives Out film “Glass Onion.”

The movie is in theaters now. Catch a showing at Terrace Theater at 1956d Maybank Hwy. on James Island.

Missed yesterday’s newsletter? Plan for the holidays with our Etsy gift guide, here.

Connect with us.

Editorial: Alexandra Garian, Tatum Jacaruso, Jessalin Heins-Nagamoto, Emily Shea | Send us a scoop, question, or feedback.

Sales: Stephanie Zapiecki | Advertise with us.

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