New Construction Homes In Charleston SC: The Numbers
In the next few posts, I am going to be looking at one aspect of the Charleston SC real estate market: new construction homes in Charleston SC. Today, I am going to talk about new home sales on a national level, and break down the numbers locally.
First, there are many reasons new homes appeal to buyers. A recent survey asked buyers their reasons for purchasing new construction as opposed to an existing home. Many reasons were cited, but the main reasons were modern features, the ability to customize the home to the desires and tastes of the buyers, and not having to worry about repairs/maintenance.
If you look at the national sales numbers over the last decade, you will see that new home sales followed the overall trend in the market–that is, very high numbers leading up to the bubble bursting, a big drop off, and now they are on the rise again.
In many markets across the nation new home sales dried up completely. That wasn’t the case in Charleston. While the sales did drop, builders continued to build new homes, albeit at a much slower pace.
With that said, let’s look into the numbers for new construction homes in Charleston SC. I looked at sales for the primary towns of the greater Charleston SC real estate market: Charleston, North Charleston, James and Johns Islands, Mt Pleasant, Summerville, Goose Creek, Hanahan, Moncks Corner, Sullivans Island and Isle of Palms.
I also looked to see what percentage of the overall sales were new construction homes. As you can see by the graphs below, it has been just under 20% for the last three years.
In my next posts I will break down the numbers further, city by city. Stay tuned, and in the meantime if you are looking a buying new construction homes in Charleston SC, bee sure to visit my website and sign up for my Free List Of Homes and I will send you available new construction homes in Charleston SC that match your criteria, location and price range!