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'Tis the Season, Lowcountry!

Friday, November 27, 2015   /   by Corwyn J. Melette, Broker In Charge

'Tis the Season, Lowcountry!

The holiday season is upon us here in the Lowcountry.  We had 70 degree temps and beautiful weather for Thanksgiving.  It’s often the same for Christmas, but there’s always a chance for a cold snap.  There will be all sorts of holiday parades and Christmas tree lightings.  And of course the James Island County Park’s 26th Annual Festival of Lights has already started and will run through New Year’s Day.  The Gaillard Auditorium has been completely renovated and they say the acoustics are world class.  Here is a list of December events:

2-20: A Christmas Story, Dock Street Theatre

4-6: Christmas Candlelight Services, Citadel’s Summerall Chapel, 7:30pm

4-20: Miracle on 34th Street, Footlight Players Playhouse

5-6: Nutcracker Ballet, Gaillard

5-20: Charleston Christmas Special, Music Hall

5: Tree lighting, Marion Square

5: 15th Annual Christmas Concert, Ashley River Baptist Church

6: Christmas at the Sotille with Charleston Men’s Chorus, 44 George St

6: 35th Annual Charleston Christmas Parade, 2pm Marion Square

6: Christmas Concert by CSO Brass Ensemble, St Thomas Episcopal

6: David Sanborn, N Chas PAC

8: Jill Scott, N Chas PAC

10-12: Handel’s Messiah by CSO, Gaillard

12: Folly Beach Christmas Parade

12: Parade of Boats, Maritime Center

12: 25th Annual Reindeer Run

12: 38th Annual Kiawah Marathon

13: Mt Pleasant tree lighting and parade

17: HipHop Nutcracker, N Chas PAC

17: Country Unplugged, Gaillard

18: Christmas with the Charlestones(a cappella), St Matthews Lutheran

22: Judy Collins, Chas Music Hall

22-23: Elf the Musical, N Chas PAC

24: Moscow Ballet’s Nutcracker, N Chas PAC

27: Blue Dogs, Chas Music Hall

31: Edwin McCain, Chas Music Hall

31: Viennese New Years Eve Ball, Black tie Gaillard

Our real estate market continues to set records each week for buying activity for this time of year.  We always have a seasonal slow down starting some time in October and usually lasting through February.  While we have slowed down from the incredible summer pace, we are still far ahead of years past for this time of year.  We are up 14% in terms of number of transactions  over 2014 YTD and will likely surpass 15k residential units sold by the end of 2015.  That will be our 3rd busiest year ever.  Low mortgage rates continue to encourage buyers to move forward.  And median sales price is up about 5.2% and is pretty stable right now around $230k-$235k.  New construction makes up about 40% of what we currently have under contract.  It is much higher than that in specific areas like Goose Creek, Johns Island, and north Mt Pleasant.  Short sales and foreclosures percentages are now low enough that they are not really relevant anymore.