It’s time
for this Charleston real estate observer to tackle the New Year’s roundup of
the Year in Real Estate (along with the traditional disclaimer that, since the
actual statistics won’t be tallied until 2014, this has to be a lot more sizzle
than steak!) But this is one time in the year when we Charleston residents get
to take pause to relax, perhaps put a bottle of bubbly in the fridge for later
on, and take a sweeping view of the general direction of things across the
land.
If you’ve
been reading here throughout the year, you already know that 2013 Charleston areareal estate activity might easily justify chilling a superior vintage champagne:
it’s been a pretty darn good year! A smattering of last week’s press reports
confirms it:
·
From the East Coast to
Oahu (where there was a “1 in 3 chance” that if you sold a house, it was for
more than the asking price), reports were of steadily rising prices.
·
The Business Insider reported that the Big
Apple “managed to shatter several real estate records in 2013.” One of the
records was a tidy listing for a modest little 62,000 sq. ft. private coop residence.
Sure, $130 million may sound a little steep to us here in Charleston, SC, but
that might be because so few of our digs have 82-foot swimming pools or tennis
courts…at least not indoors, inside our five-story apartment atop a skyscraper.
·
More down to earth
might be NAR’s assessment that “Housing prices rose faster than expected” —
with a lot of credit given to the fact that “affordability remained high.”
·
Another factor: “More
first-time buyers” were entering the market due to “rising rents and pent-up
demand.”
·
Following suit, the Dallas News was touting a local home
market that “came roaring back in 2013;” one that had “builders rushing to keep
up with demand for new houses.”
·
The Realtor® web awarded credit for the strong
real estate year to “Low mortgage rates, all-cash buyers, and tight
inventories” that sustained the housing market recovery. Our Charleston area
real estate saw much of the same.
·
There was one notably
bleak spot: “ACT real estate hit hard by election” the Times reported. “Uncertainty” about election politics had created
“subdued performance during the year” and some “negative house price growth.”
The best news: this was the Canberra
Times – and the country was Australia!
So
let’s wish those Down Under a quick turnaround; then, after a relaxing day
watching the Rose Parade and a bowl game or two, let’s get ready to charge into
an equally dynamic 2014.
Happy
New Year, everyone!
Interested
in selling your Charleston area home? Visit: www.jeffcookrealestate.com
Interested
in buying a Charleston area home? Visit: www.discovercharlestonareahomes.com
-Jeff Cook
Jeff
Cook Real Estate
Charleston,
SC
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