Mount Pleasant is one of Charleston, SC's hottest real estate markets because it has the best public schools in Charleston County and some of the nicest all-inclusive neighborhoods in the Charleston area. The good school districts and the great home selection in Mt. Pleasant have created a high demand of buyers.
This high demand has always yielded higher-than-average prices for the Charleston area, and the demand right now is as strong as it's ever been. Last year, there were over 2,800 homes that sold, and 2017 is looking like it will exceed that number in sales. About 1 in 4 homes that sell are Mount Pleasant new homes, and builders are helping add to the current shortage we're seeing for listings. Some of the most popular new homes are in the communities Carolina Park, Oyster Point and Dunes West.
The Mt Pleasant SC real estate market is seeing about a 9% increase in sales year over year with median price trends around $432,000. In 2011, the median price was around $310,000, so it's important for buyers to understand how quickly values are going up. Especially for those relocating from other markets that are slower/cooler, we're seeing buyers choose to go ahead and buy this year with plans to rent out their home until they're ready to relocate or retire in Mount Pleasant. Since many buyers start looking 3-5 years out before they actually close on a home, this fast paced escalation has priced many buyers out of the Mt. Pleasant market. For our clients who were looking several years ago in the $300K range, there are now only a handful of good homes to choose from. In order to get the level of upgrades and the scale of the home they want, buyers are now expanding their search to more affordable Charleston areas such as West Ashley and Johns Island.
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