Charleston, South Carolina

The city of Charleston, South Carolina is in the top ten housing markets for 2018. In New York City, there are residents who are searching for an escape from high prices of houses and are relocating there. Interestingly, Charleston, South Carolina is the location they are looking at more than any other.

The cost of homes in New York City as well as other major cities in the United States is stimulating the search farther from the suburbs of their cities. The suburbs are now unaffordable too.

Even though the house prices of Charleston rank amongst the highest in the state of South Carolina, for New York City dwellers, they are a bargain.

In Charleston, the list cost median is $364,000. The list cost median in New York City is $474,000.

Due to a strong number of website searches, the city of Charleston took the number seven spot on the top ten home markets to watch. Two other factors help explain why Charleston is in the top ten list. There is stronger home availability and a robust job market, in addition to other things that affect the ranking.

The ranking was based on locations with the biggest ratio of inbound searches when you compare it to outbound searches. When house search activity is captured early in the cycle of buying, it can act as a predictor for sales that come in eventually.

Moving on to commercial real estate, here are 4 industrial commercial real estate transactions that took place the first quarter of 2018:

537 Omni Industrial Boulevard, having 587,720 square feet

Geneva Supply had the largest lease which was warehouse space of 60,000 square feet, located at 3265 Benchmark Drive.

An expansion announcement – Innovative Vehicle solutions: 27,500 square feet expansion having to do with its Ladson headquarters; $2,5 million. This project will bring about 108 jobs.

An expansion announcement – Frontier Logistics: A distribution center having 400,000 square feet; $35,5 million. This project will bring about 34 jobs.

The annual median household income in the city of Charleston-North Charleston-Summerville, South Carolina metro area is $57,659