Old Village/ Old Mt. Pleasant Market Update

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Buyer Need!

Need Resources?

After all of these years in the business, I have quite the resource connection! If you need contacts, please reach out! Jackie@TheCassinaGroup.com.

Q1 Market Snapshot for Old Village/ Old Mt. Pleasant- 2023/2018/2013

The AVERAGE HOME SALE PRICE (for single family homes in the Old Village/ Old Mt. Pleasant Neighborhood) increased significantly over the past 10 years:

•  2013: $720,000 
•  2018: $1,160,000 
•  2023: $2,200,000

Which obviously increases the AVERAGE PRICE PER SQUARE FOOT:

•  2013: $286 
•  2018: $370 
•  2023: $760

TOTAL AMOUNT OF HOMES SOLD during these time frames:  

•  2013: 39
•  2018: 36 
•  2023: 26

Real Estate is local, down to your neighborhood, down to your street.  If you are considering buying or selling, please reach out to me. I specialize in this market and I’m happy to help. Jackie@TheCassinaGroup.com 

*Information is provided by the Charleston Trident MLS based on single family homes sold in The Old Village/ Old Mt. Pleasant Neighborhood for Quarter 1.  Data was pulled on 4/25/23. 

Trivia- Blue Porch Ceiling

The answer is D, all of the above. Click here for more info.

Buyers, Hang In There! Here’s Why:

Inventory is still low and prices are holding steady. In short, we are still in a seller’s market.  But for those looking to buy, there is some good news:  Home Ownership grows your net worth, mortgage rates have ticked down, and home prices are forecasted to increase in the coming years.  These benefits outweigh many of the challenges of today’s market. Let’s break it down:

Long-Term Home Ownership Benefits Outweigh Short Term Challenges:

*Owning a home grows your net worth over time, and getting started as soon as possible is the best approach *Unlike renting, your monthly housing payment goes towards your equity, which adds up quickly *As Freddy Mac puts it, “Home ownership not only builds a sense of price and accomplishment, but it’s also an important step toward achieving long-term financial stability.”

Mortgage Rates Are Constantly Changing:

*Lower rates improve your purchase power and although rates have been hovering around 6.5%, rates are constantly changing and have come down over the last few weeks *Hannah Jones, Economic Data Analyst at realtor.com, explains: “As we move into the spring buying season, mortgage rates have ticked lower, a welcomed sign of progress towards affordability.”

Home Prices Will Increase

*According to the Home Price Expectation Survey, which polls over 100 real estate experts, home values will go up steadily over the next few years after a slight decline this year (see graph above)

If you would like to learn more, click here for more in-depth information, and as always, reach out to me if I can answer any questions, Jackie@TheCassinaGroup.com

Trivia- Cooper River Bridge Run!

The answer is A, Oprah! Yes she did! She ran the 1994 Cooper River Bridge Run in 55 minutes and 48 seconds! That’s pretty darn impressive!!!!!!

Trivia: Restaurant Quiz!

The answer is A, The Blue Hawaii, Polynesian Themed goodness.

Top Sales So Far In The Old Village

205 Ferry Street, closed for $8,400,000 on 3/24/23. Featuring 5277 sq ft, 4 br, 4.5 ba, on the harbor with deep water dock. Click to learn more.

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1464 Short Street, closed for $3,750,000 on 1/12/23. Featuring 3414 sq ft, 4 br, 3.5 ba, on .52 of an acre with pool. Click here for more info.

To see all homes for sale in The Old Village/ Old Mt Pleasant, visit SearchOldVillage.com and be sure to let me know if I can help.

Thank You For Your Support!

My sincere thanks to all of you for your support over the past 20+ years! I would not be in this business if it wasn’t for backing of my community, and for that I am grateful! I’m very fortunate to to have found a career that I love!