IN THE NEWS...

Get your sunscreen out - June is here, school is out, and summer is upon us! Everyone will be heading to the beaches and parks, but make sure to take advantage of some of the fantastic events happening this month. Scroll down to see our June events highlights.

Charleston is booming on so many fronts including food, breweries, colleges, real estate, and business. James Beard Awards chose Rodney Scott of Rodney Scott’s BBQ as Best Chef in the Southeast. FIG captured the Best Wine Program in the US. The Masters program at the College of Charleston School of Business was named by US News and World Report as the Best MBA program for post-graduation job placement. Travel+Leisure also published another recent feature on the 10 Best Seafood Restaurants in Charleston. Making the list were Hank’s, Fleet landing, FIG, 167 Raw, Amen Street, The Ordinary, Roadside Seafood, Leon’s Oyster Shop, Nana’s Seafood and Soul, and Nico Oysters and Seafood.

If you’re wondering if the local breweries are keeping pace with the accolades in the food aisle, we checked the results from the 2018 LA International Beer Competition. Revelry took home a whopping six medals evenly split between gold and silver! Commonhouse Aleworks and River Rat Brewery also medaled. 

Notable Activity - Another Bubble?
by Charleston area real estate statistician, Doug Holmes

The number of transactions year to date is almost the same as last year. However, the median sales price* is up 7.2% over the same period. That’s a significant percentage. The last couple of years have seen more modest gains of around 4%.  Many people are asking if this is the warning of another bubble.  Remember, real estate very rarely goes down. Prices dropped in 2008, but that was an anomaly. There was a good reason for that, and it was nationwide. Don’t expect prices to go down again.  Economies go into recession, and this causes real estate to go flat. Sometimes you may see your real estate value stay constant for many consecutive years.  But it never really goes down.  Analysis back to 1991 shows that current values in Charleston are where they should be on the long-term trend line.  We probably cannot sustain 7% increases for very long, but that does not mean there’s a bubble.  Note that Johns Island sales are up 54.2% YTD concerning the number of transactions.  And Daniel Island is up 28% YTD concerning the number of transactions.  The Daniel Island median sales price* is also up over 20% YTD over the same period from 2017.

Scroll down for the Charleston market update by area.

*median sales price - exactly half of the homes sold are above this price and exactly half are below.

CHARLESTON MARKET UPDATE

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June

Through the 10th: Spoleto Festival USA and Piccolo Spoleto Festival

Every Tuesday: Party in the Park | Mt. Pleasant Memorial Waterfront Park

5: U.S. Women's Open Championship Trophy Arrival and PLAY9 Community Day | Charleston Municipal Golf Course 

Every Friday: Party at the Point | Charleston Harbor Resort Marina

9: Shaggin' on the Cooper | Mt. Pleasant Pier

10: 2nd Sunday on King Street | Downtown Charleston

11 - 17: Charleston Pirate Week | Downtown Charleston

15: Jazz on the Harbor | South Carolina Aquarium

17: Father's Day

21: Summer Solstice - The longest day of the year

22 - 25: Charleston CariFest | Downtown Charleston