June is here and we have a lot going on in Charleston. We still have about another week left of Spoleto and Piccolo Spoleto. The music and arts festivals are just incredible. Take your doggie to the Riverdogs game on June 1 and enjoy the Bark and Brew game. Incredible eats at Lowndes Grove Plantation on June 5th at the Charleston Trash Fish Dinner. The Sweetgrass Cultural Arts Festival begins on the 6th and celebrates the Gullah tradition. Charleston Carifest is June 12-14, celebrating our Carribean heritage. Blueberry Jam and Blueberry Festival is in McClellanville on the 19th. Frankie Valli will be at the North Charleston PAC on the 13th. Spyro Gyra and the Average White Band will appear at the Charleston Music Hall.
And we’re getting more great press. Travel and Leisure Magazine voted us #5 best Girlfriend Getaway City. Here’s what USA Today said about Charleston: “A booming tech start-up economy and a thriving arts and restaurant scene have helped this old Civil War tourist magnet do something that places across the USA have been trying to do for decades.” Sugar Bakeshop was singled out in the America’s Best Bakeries article in T&L and Butcher and Bee’s pastrami sandwich was noted as America’s Strangest Sandwich.
The real estate market is just fantastic here. Recently it was noted as one of the hottest in the entire world. We’ve seen our median sales price exceed those at the peak in 2007 and we’ll probably sell 14k homes this year. That will be about the 4th best year ever in terms of number of transactions. Mt Pleasant continues to be the hottest area, followed closely by James Island and West Ashley. All of these have close proximity to downtown and the beaches. Typical locations throughout the nation don’t see this kind of activity or prices. Further out in the Summerville and Goose Creek areas, things have been a little slower to catch up, but they seemed to have turned the corner as well. This is good news for everyone. Summerville and Goose Creek more closely mirror the majority of the nation. Interest rates have remained low and this has a lot to do with the real estate boom. There does seem to be a lot of cash buying as well right now. We still have some 2004-2007 buyers that are under water, but there are less and less each day.