Downtown Charleston FYI: Home Price Ranges
| By: PremiereCharleston.com Staff Real Estate Editor | 11/02/2009 |
Any decent Downtown Charleston Real Estate website (even this one!) will tell you, "For historic architecture, old-world charm, inspiring views and central location, Downtown Charleston can't be beat!"
If Location, Location, Location is your guiding star then you've arrived, no doubt. If price is a consideration, well... a mature investor or homebuyer knows that this much charm and history in such a hot location comes at a price. But at what kind of price? Good question, and Premiere Charleston has the 411.
Try this: go to any Charleston real estate search engine. Set your area as "Downtown Charleston." Under price range, enter "minimum $1 million." What sort of results will you find?
Of course, there are the listings at the extreme high end that skew the results. On this day you find a 9-bed, 13-bath mansion on Legare St, South of Broad. Built in 1808, this place has all the Charleston grandeur you could fit into 17,000 square feet. Asking price: $23 million. If this one sells - in fact, if any of the top 5 achieve their asking price - it will likely be a new Charleston record sale. The current record is around $7.5MM.
Quickly, the price range descends thusly. It takes:
- 10 listings to reach $5 million,
- 20 listings to reach $4 million,
- 35 listings to reach $3 million,
- 76 listings to reach $2 million, and
- 199 listings to reach $1 million.
Number 199 sits on Savage St, South of Broad. This 3-bed, 2-bath Charleston Single will set you back a mere $999,000.
In the formal language of the mortgage banker, Downtown Charleston living "ain't cheap." But, hey, the exclusivity of owning a Downtown Charleston home is a big part of the appeal. After all, as any decent Downtown Charleston Real Estate website (even this one!) will tell you, "For historic architecture, old-world charm, inspiring views and central location, Downtown Charleston can't be beat!"
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June 16, 2010
