As real estate is to location, location, location, land is, too. Especially when there is a limited supply that does not meet the high demand taking place in the Lowcountry. The scramble is on, and developers, investors, builders, and average speculators alike are making multiple offers on the little leftovers on smaller parcels near the desirable areas in town, while bigger tracts, say, over 10+ acres in the not so-called desirable areas are moving just as quick without listing agreements being discussed.
Last year this time, most areas witnessed a steady increase of active listings of 15.4%.
New listings YTD are also experiencing a surge with two quarters of the year left to go. Wadmalaw Island increased a whopping 90% sold YTD, and Summerville increased well into the triple digits percentage growth margins. North Charleston/Summerville outside 526 is exploding with record sale volumes from a nominal standpoint. While this solid growth pattern continues, my recommendation to the average landowner with 10+ acres is to get an up to date land appraisal from someone certified and familiar with your area. It’s also good to know the development and zoning changes within a one-mile radius of your property.
Contact me regarding any questions you may have to know your advantages.