Looking to sell a house in the Charleston market? A new study ranks several cities in the Lowcountry among the easiest places to unload a home.
SmartAsset, a New York-based financial technology company, ranked cities in the U.S. by the number of days their homes spend on the market. Seven of the top 10 cities or areas in South Carolina are in the Charleston Metro area.
Charleston comes in at No. 10 with homes averaging about 77 days on the market.
Other towns and cities in the Metro area came in even higher. North Charleston ranked second in the state with homes on the market for 51 days. Homes in the Ladson area stayed on the market about 61 days, coming in fourth in the state. Mount Pleasant ranked fifth with homes on the market about 68 days. Hanahan came in seventh with homes averaging 70 days on the market, followed by Summerville at about 71 days and Goose Creek at about 74 days. The No. 1 city in S.C. was Greenwood, where homes stayed on the market about 26 days.
The allure of Charleston and the booming economy, spurred by the expansion of Boeing Co. and the announcements by Daimler and Volvo Cars to build auto-manufacturing plants near Charleston, are helping homes sell quickly, according to the Charleston Trident Association of Realtors.
A 290-unit North Charleston apartment complex has changed hands.
Latitude at Wescott, formerly known as Avana at Wescott Plantation, recently sold to an affiliate of Chartwell Holdings LLC, says CBRE, a commercial real estate firm involved in the deal.
The seller of the seven-year-old property was a company formed by Charleston-based Greystar, the nation’s largest apartment management firm.
The sale price of the 9850 Old Glory Lane property off Dorchester Road behind the Harris Teeter-anchored Corner at Wescott shopping center was $39 million, or about $134,500 a unit, according to Dorchester County property records.
“Avana at Wescott Plantation is positioned directly in the path of Charleston’s inevitable northward expansion, which will allow new ownership to capitalize on the area’s economic growth,” said Kevin Kempf of CBRE.
A new Level Homes-built subdivision near Ridgeville and the planned new Volvo Cars plant has six finished homes remaining.
The homes in Bridlewood Farms range from 2,300 square feet to 3,000 square feet and are priced from the low to mid-$200,000s. The model is at 2138 Pimlico Drive in Ridgeville.
Mount Pleasant-based Ziff Properties has made an acquisition in the suburban Charlotte market.
The firm recently acquired the 127,817-square-foot Matthews Festival Shopping Center in Matthews, N.C., for $8.15 million. Tenants include Big Lots, Miracle Ear, Springleaf Financial and Merle Norman Cosmetics.
Ziff said it plans to renovate the center and is in talks with several new tenants.
“Our business revolves around neighborhoods and furthering the importance of each of our shopping centers to the community,” said Ziff director of acquisitions and chief operating officer Christian Chamblee. “With its current occupancy levels and opportunities for enhancement, Matthews Festival is an ideal fit.”
Home prices continue to escalate in the Charleston-North Charleston market. Prices, including distressed sales, jumped 8.1 percent in July compared to the same month a year earlier, according to property information service CoreLogic. From June to July, prices increased 0.9 percent.
Distressed sales include short sales and bank-owned foreclosure transactions.
Excluding distressed sales, year-over-year prices increased by 7.0 percent in July and 0.7 percent month over month.