Study Identifies New Homes In Charleston SC Sales
A recent Harris Poll on behalf of Trulia revealed that Charleston SC is one of the Top 5 housing markets in the entire United States for the most single-family new homes construction. In fact, Charleston ranked #3. The survey was based on US Census data and adjusted for market size.
In fact, along with Texas, new construction is hottest in the Carolinas—Texas and North Carolina each placed two cities in the Top 5. This shouldn’t be a surprise considering new construction sales make up nearly a third of all home sales in the greater Charleston SC real estate market.
New Homes In Charleston SC: Home Buyers Prefer New Homes
The survey also revealed that 2 in 5 home buyers prefer a new construction home as opposed to an existing house. The top reasons included modern features/amenities, the ability to customize the home, and having less maintenance. However, on average, a new home will cost 20% more than a comparable existing home.
Of the respondents that preferred a new home, only about half (46%) would be willing to pay the premium price.
It’s interesting to note that in the Charleston SC real estate market, new home prices average 6.82% higher than existing homes in Charleston the last 12 months. However, over two years their average sales price has increased 23.77% vs 7.6% (this does not compare similar homes, but is an overall view).
New Homes In Charleston SC: Not All Buyers Willing To Pay Premium For New Homes
These numbers look very good if you are considering new homes in charleston sc. The value is there, as well as the appreciation. In fact, while it is a great time to buy a home in Charleston SC, new homes in Charleston sc present an extremely attractive value.
If you are searching for a new homes in Charleston SC, then make sure you realize that you are entitled to have your own agent representing you– even when buying a new home. It is in your best interest. Best of all it is free.
Check out some of my videos, and old posts. Bee sure to visit my website, and sign up for a free list of new homes in Charleston SC that match your criteria.