Old Village/ Old Mt. P Market Update

The real estate market looks pretty solid in Mt. Pleasant as a whole, so I thought I would drill down on our neighborhood and take a look at how Quarter 1 of 2020 is faring compared to the past few years.  Here are some interesting stats, according to the Charleston Trident Association of REALTORS and reflect single family homes in the Old Village/ Old Mt. Pleasant Neighborhood.

sng fam homes sold

No real surprise that sales were down in Quarter 1, but homes in the Old Village/ Old Mt. Pleasant Neighborhood are still selling!  In Quarter 1 of 2020, 24 homes closed, compared to 41 sales in Q1 of 2019 (wow), 37 sales in 2018, 32 sales in 2017, and 30 sales in 2016.  So, although the 2020 number is off compared to last year, it is with in the zone of previous years…. and that’s not too bad considering most buyers are shopping primarily online through virtual tours.

ave pr per sq ft

Sales prices are holding steady and this is some really good news.  For homes sold in the Old Village/ Old Mt. Pleasant Neighborhood in Q1 of 2020, the average price per square foot was $385, compared to $395 in 2019, $365 in 2018, $371 in 2017 and $329 in 2016.

days on mkt

What about the length of time it takes to sell?  Q1 of 2020 stats do indicate that, although homes are selling for a solid price per square foot, it is taking a bit longer than usual.  Homes in Q1 of 2020 averaged 133 days on the market, compared to 88 days in 2019, 58 days in 2018, 93 days in 2017, and 76 days in 2016.

In summary, things are selling, prices are holding steady, but it may take a bit more time to find your buyer making it more important than ever to chose a full time, professional Realtor who has the experience to help you achieve your goal!  f you are thinking of buying or selling, I specialize in this area, and I have been selling here for over 17 years.  If I can help, please let me know.

Stats are provided by the Charleston Trident Association of Realtors, and reflect the time frame of Jan 1- Apr 30, for single family homes in the Old Village/ Old Mt. Pleasant Neighborhood.

 

 

 

 

Thank you to my clients! Here Are Some Of My Recent Neighborhood Sales!

121 freeman

121 Freeman Street

728 Gate Post

728 Gate Post

686 Adluh

686 Adluh Street

739 hill

739 Hill Street

1424 poca

1424 Pocahontas

I specialize my business in this market, if I can help you with real estate in The Old Village/ Old Mount Pleasant, please let me know!  And to receive a list of homes for sale or sold, visit www.SearchOldVillage.com

 

 

 

Renovations That Pay!

reno that pays

I am frequently asked about renovations that are a good return when considering selling your home.  This guide is a great resource, and in addition, other improvements would be repainting interior walls, deep clean the home prior to professional photos, re-fresh landscaping with new pine straw and add some flowers for a pop of color!

Plans Announced for the Former Old Village Post House

Basic Kitchen team reveals plans for former Old Village Post House in Mount Pleasant

Charleston area residents have grown inured to the openings of high-end hotels with signature restaurants, but Kate and Ben Towill are inverting the model by opening “a restaurant with rooms” on the site of the former Old Village Post House.

The Towills, best known locally for developing Basic Kitchen in downtown Charleston, plan to open The Post House Restaurant + Inn at 101 Pitt St. in the first half of 2020. In addition to seven rooms, the property will feature a dining room with an outdoor courtyard, private event space and street-front bar.

Ben Towill says the decision to relocate the bar from the back of the restaurant has unsettled some former Old Village Post House customers who were fond of the dimly-lit hideaway. But he’s assured them that his overarching aim is to move the historic building’s best features out of the shadows, and to better integrate the restaurant with its surrounding neighborhood.

“We’re trying to open it all up,” Towill says.

To that end, the Towills have already swapped out plain plate glass for greenhouse-style windows, and knocked out the ceiling which loomed over the one-time Captain’s Room. Currently, the building looks like a walled-in construction site.

“What started as just a refurbishing turned into a full renovation,” Towill admits.

When the project’s finished, Towill says, the restaurant and hotel components should flow together seamlessly. He compares the intended setup to old English pubs offering beds upstairs and hearty meals below. For example, he envisions hotel guests checking in at the main host stand and taking their breakfasts in the barroom, as opposed to the secluded second-floor nook where guests started their days during the Old Village Post House era.

Menus haven’t yet been worked out, but Towill imagines the restaurant will serve a fair amount of fresh seafood in a nod to nearby Shem Creek, as well as burgers and salads.

“Because of where we are, we’re super sensitive to price point,” he says.

Towill isn’t complaining. “We heard this was coming on the market, and it’s very rare that something like this comes up,” he says. Still, “I don’t know if I would have jumped on it if it had been downtown.”

Built in the 1880s, Old Village Post House in 1984 was redesigned as a restaurant and inn. Hall Management Group, which took over its ownership with the 2015 purchase of Maverick Southern Kitchens, sold it to local investors in February 2019.

Hanna Raskin
postandcourier

739 Hill St, Old Mt Pleasant, listed for $895,000- UNDER CONTRACT!

Lovely renovated home listed for $895,000.  Located on a quiet street in the Old Village/ Old Mt. Pleasant neighborhood. Home features include: *4 bedrooms, 3 baths and 2450 square feet. *Great curb appeal with a fully fenced yard, beautiful up-lit Grand Oak tree, spacious screened front porch, metal roof and flagstone patio. *Charming entry foyer with Ship Lap walls and wide-plank reclaimed Heart Pine Floors (that carry throughout the entire first floor) *Cathedral Ceiling in Living room with gas fireplace and custom mantelpiece.  UPDATE, HOME IS NOW UNDER CONTRACT!

 

 

Charleston-area Home Showings Drop for 11th Straight Month

jk sold

Interesting information from the Post and Courier, and while I must agree with the stats, I will say that working with a seasoned Realtor, who knows your market, is the key to going under contract quickly.  As an example, my most recent Old Village Listing 209 Greenwich Street, went under contract in 7 days. 

From Warren L. Wise, Post and Courier

While Charleston-area home sales are just slightly off last year’s pace through the first half of the year, home showings continue to lag.

For the 11th consecutive month, the number of people walking through doors to check out a house dipped across the Lowcountry in June.

The ShowingTime Showing Index for the Charleston region reported the number of doors being opened for prospective buyers dropped 6 percent in June. Showings have been down every month since last August and are off an average 9.4 percent over 12 months through June.

The good news is the negative showing rate has moderated in recent months from the double digits last fall and earlier this winter.

Sales are down for the year through July a scant 0.6 percent, but if more homes were available at price points people could afford, sales would be higher, according to Wil Riley of the Charleston Trident Association of Realtors.

“The rise in home prices is outpacing income growth,” he said. “In our region, the $53,000 median household income does not align with a median home price that’s climbing toward $300,000.”

Nationally, showings dipped 1.8 percent, and an official with the Showing Index said declines have moderated across much of the nation.

“Activity in the South and Midwest remains slightly slower than in 2018, though there is more buyer activity in the lower price quartiles of the market,” said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. “Pricier homes continue to see less traffic compared to the same time last year.”

It has never been more important to work with a full time, professional Realtor who knows your market.  If I can help, please contact me at Jackie@TheCassinaGroup.com

 

209 Greenwich Street- Old Village- Available for $1,195,000 UNDER CONTRACT!

Custom-built, impeccably designed home located on an elegant, hidden oasis on a quiet street in the Old Village. Once inside, the free-flowing floor plan emphasizes the property’s seclusion by incorporating the main living space into the second floor.  This home must be seen in person to really grasp the extraordinary use of space. Features: *Fully enclosed courtyard flanked with stunning stucco accent walls, pergolas, a tabby patio, brick fire pit, outdoor shower, and lush low-maintenance landscaping*Spacious 2-car garage*In-law suite with kitchenette and separate entrance*Wide-planked white oak flooring *10-foot ceiling *Great room with tons of natural light, decorative gas fireplace and dramatic windows showcasing the surrounding trees *Open flow to white kitchen with oversized white Rhino Marble island, Subzero refrigerator, Italian Cooktop, dual stainless dishwashers, stainless farm sink and Kohler Plumbing fixtures.  Click here for more.  

 

1504 Old Village Dr- Available for $572,000

Welcome to Old Village Landing, a quaint neighborhood located within walking distance to Mt. Pleasant Academy and a short drive/bike ride to Sullivan’s Island and downtown Charleston. HOME FEATURES INCLUDE: *1554 sq feet, 3 bedrooms, 2 baths *Spacious living room with vaulted ceiling, gas fireplace and tons of natural light *Open flow floor plan with dining room off living room *Stunning Ebony stained wood floors throughout living space, tile flooring in bathrooms, and carpeted bedrooms *Eat-in kitchen with tons of charm, granite countertops, gas range, new side-by-side stainless refrigerator, stainless dishwasher and functional pantry/closet with built-in shelves *Oversized deck off living room/kitchen- perfect for entertaining *Gas hook-up for grill *Private, fully fenced backyard withshallow well for irrigation *Large master suite with walk-in closet, bath with double sinks, soaking tub and stand up shower *2 additional bedrooms with shared bath *Attached garage with space for a car plus golf cart!  Click here for more info!

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Experience Sells!

I have been specializing in the OV/Old Mt. P. for years, including bringing you the Village Connection Newsletter since 2006!  I am a Top Producing Agent, voted Best REALTOR® by Moultrie News, and recipient of the REALTOR® of Distinction Award.  I am a full-time Professional REALTOR®, I am your neighbor, and I know this market.  Let’s face it…experience sells and I have the track record to prove it!  If I can help, contact me today! 

jk sold

Old Village/Old Mt. Pleasant Real Estate Market Update

OLD VILLAGE/OLD MT. PLEASANT MARKET UPDATE:

The 2018 average sales price for single family homes in the Old Village/Old Mt. Pleasant was $816,000 compared to 2013’s average of $570,000.  That represents an approximate 7.5% appreciation rate per year over the past 5 years! Amazing!

So what is expected for 2019?  Local experts forecast another solid year, as there are plenty of buyers and inventory is still low.  Interest rates will prove to be the “wild card” as rising rates will limit some buyers’ ability to purchase, potentially creating longer market times.  But for today, according to “The Morning Brew” the 30-year fixed mortgage rates hit a 4 month low, which is welcome news! Full steam ahead!

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Data obtained from the Charleston MLS, deemed reliable but not guaranteed.  The  2013 sales average did NOT include 101 Venning St., which closed for $5,000,000.