In 2018, the Charleston, South Carolina market will continue with its boom in land tract sales. In particular, large tracts from 20 acres to larger tracts of over 300 acres are selling. Home builders and developers alike are competing for ripe pieces that will fit their niche criteria. Above all, the concern for land in the Lowcountry has been the cumbersome negotiation of high vs low land.
In layman’s terms, what is buildable vs. what is not buildable?
Sellers want to maximize their sale as well as buyers for their purchase. There is some reluctance on both sides to come to a happy medium to settle on an appropriate price per acre. It’s an obvious understanding that no one wants to give away free land, so the burden is on the seller to be on top of things when it comes to their nest egg.
Seek an experienced land broker who has expertise in this area who can assist with wetland surveys and surveyors along with the U.S. Army Corps of Engineers’ procedures to ultimately determine what your land is before you sell. The current equation used is solely based on a buyers’ value per high buildable acre. What’s to say about any value per low or what’s wet? This is a local challenge in the Charleston market and the surrounding areas as urbanization and sprawl continue to dictate a high demand for land parcels that include a good percentage of both.