Charleston Goose Creek's Housing Market Attracts Flocks Of Buyers

Written by Posted On Tuesday, 25 January 2005 16:00

Realtors in Goose Creek, South Carolina, a suburb of Charleston, report that homebuyers are flocking to Goose Creek.

"Goose Creek is a modern fast growing bedroom community of Charleston," says Realtor Ron Henderson . "It's close to major shopping with primary focus on residential. Crowfield Plantation is the primary center of residential sales."

About the market, Henderson says, "It's on fire! It's a great time to buy anyplace in the Charleston area but be prepared to move fast with an experienced agent! The consistent relocating market combined with the local move up market and industry announcements has created a strong housing demand in the Goose Creek area. Interest rates are still low but may change. I'm seeing the best offerings going under contract fast with little new construction standing. New construction fresh starts remain 6-7 months out from the contract date. In some areas new construction sales have out paced the lot development and building permits. Most builders still offer help towards closing costs if you use their preferred lender but they are not negotiating on price. Look to resales as lot restrictions and shortages slow down construction.

He explains, "Prices have increased in all areas with the Islands, Mt. Pleasant and Charleston soaring. Goose Creek and Summerville are showing a 6 percent median price increase over last year and now appear to offer the best pricing for the area. Mt. Pleasant prices are up nearly 20 percent, and they are not issuing building permits fast enough to match the market demand. Relocating buyers are forced to consider the thinning resale market and other popular bedroom communities like Goose Creek. The 100-200,000 range remains extremely tight in all areas with the better properties snapped up fast. The sellers in the 200-400,000 ranges for resale's are more competitive. The tri-county area is a great place to purchase but be prepared to shop hard and move fast when you find the home. Across the tri-county areas the demand in certain price ranges and the shortage of inventory has created a sellers advantage in the negotiations.

The main communities of Charleston, Mt. Pleasant, Goose Creek and Summerville remain a hotbed of activity and I forecast hot market for 2005. With the interest rates down and prices on a steady increase why would any qualified buyer wait?

Says Realtor Carrie Hughes , "Goose Creek is a stone's throw from North Charleston and Summerville. A few years ago, the only people interested in Goose Creek were Navy personnel and their families. Now, you can find new housing everywhere! The town has grown rapidly, and many families have now made Goose Creek their home. It's a wonderful place to live, and is still within commute time of Charleston."

"In the past year, the inventory of available homes, new and pre-owned, has declined from 5100 units to 3500 units," says Realtor Lloyd Gunn . "The same number of buyers are chasing fewer homes. This has resulted in sellers often having multiple offers on the table. More often than not the accepted offer is list price or greater. I see no exigent factors that will change this market in the short term."

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