Quarter 3 of 2015 was very strong for the luxury market downtown, a fact which is reflected in the statistics. With decreasing inventory and high demand from luxury buyers, homes are fetching high prices on the peninsula.
There were only half as many closed sales in Quarter 3 of this year compared with 2014, and the average sale price increased by a whopping 38%. This huge jump is a result of both a lower number of sales and the impact of three large sales – 15 Orange Street (sold for $3,200,000) ; 1 Meeting Street (sold for $4,200,000), and 32 South Battery, (sold for $7,717,500). Our company represented the buyer of this sale which represents the highest price paid for any home in downtown Charleston.
We are also seeing lots of buyer activity in the high end of the market this fall and with a scarcity of listings it has become a sellers market at every price range.
Please enjoy our online E-Book with valuable local statistics relevant to YOUR neighborhood. Call today to find out more about how you may benefit from the current market conditions.