Neighborhood Guides
West Ashley Charleston Below The Crosstown Summerville
Wando Daniel Island Charleston Mount Pleasant
July is here and it’s getting warm! There are many events planned for Independence Day including the can’t miss fireworks show on the Harbor. Lots of different places where you can choose to view from. If it’s not too hot, try Dancing on the Cooper at the Mt. P Pier on July 4, 9, and 30. If it gets too hot outside, try some cool jazz at the Forte Lounge downtown. It’s time to get out and enjoy our great city.
Looking To Buy In The Summerville SC Area
July calendar of events around the Charleston, SC area:
1: Stephen Marley, Firefly Distillery
2: Independence Day Weekend Celebration, Joe Riley Ballpark
2: Living History Through the Eyes of the Enslaved, Magnolia Plantation
4: 2nd Annual Independence Day Celebration at Ferry Wharf, Mt P
4: 4th of July Fireworks on the Water, Charleston Water Taxi
4: City of N Charleston’s 4th of July Festival, N Chas River Front Park
4: 4th of July at the Watch, Restoration Hotel
4: 4th of July Fireworks on Folly Beach, Folly Beach
4: Sea Stars and Stripes, SC Aquarium
9: Vince Gill, N Chas PAC
13-24: Hamilton N Chas PAC
10: 2nd Sunday on King Street
14: Truth be Told: Vesey, Gaillard Center
15: Reggae Summer Nights, James Island County Park
15: Barenaked Ladies, N Chas Coliseum
16: Cars and Coffee, Freshfields Kiawah
16: Denmark Vesey Bicentenary with DL Hughley, Gaillard Center
16: 3rd Annual Anime Film Fest, Chas Music Hall
19: N Chas Chamber July Mixer, TD Bank N Chas
20: Kevin Patton Quartet, Gibbes Museum of Art
20: Jonathan Foster, Awendaw Green
21: Wine on the Piazza, Edmondston-Alston House
23: Jonathan Foster, Commonhouse Aleworks
23: Tom Petty Tribute, Chas Music Hall
24: Herb Alpert and Lani Hall, Chas Music Hall
29: JuLionfish Festival, SC Aquarium
30: 9th Annual Ladybug Day, Magnolia Plantation
30: Kids Day in the Garden Market, Middleton Gardens
A look at Charleston’s economy:
The Charleston economy is doing great. Golfbreaks by PGA Tour, a leading, worldwide golf vacation specialist, announced plans to expand operations in Charleston County. The company’s expansion will create 32 new jobs in the next two years. The company offers golfers a top-class, hassle-free service by arranging tee times, accommodations, ground transportation, tournament tickets and much more. The Dead Rabbit, a celebrated multi-bar concept under one roof in New York City, is expanding its brand with a sister upscale Irish pub and indoor/outdoor cocktail bar called Hazel and Apple on King Street in early 2023. A Boston-based developer is bringing a new entertainment venue to the Charleston area. PiNZ Entertainment Group has announced plans for Mix, which is being billed as an “eatertainment” concept, at 730 Coleman Blvd. in the Brookgreen Town Center near Shem Creek in Mount Pleasant. Boutique hotel, The Pinch, recently opened at King and George. The accommodations include 22 rooms and suites plus three “residences” that can be books for 30 days or more. Plans call for two restaurants to open this summer. And REI announced they are opening their 3rd SC location in Mt Pleasant in the fall of this year.
Looking To Buy In The Summerville SC Area
Of course, our real estate market has done very well over the last few years. However, the government has put the brakes on the housing market while trying to curb inflation. They recently raised rates by 3 quarters of a point. That’s the most in one shot since 1994. And they plan to raise by half a point at least twice more soon. Remember that a 1% increase in mortgage rates reduces a buyer’s buying power by around 10% in order to keep the same monthly payment. In Charleston, we have seen active inventory rise from about 1000 active listings just a couple of months ago to almost 2100 now. That’s a quick 110% rise. Our sales are good, but we are not keeping up with the records of the last couple of years. We are actually currently on a pace with 2015 or 2016. Sales prices are still very strong, but this will bear watching. Those that need to get a loan have had a big change, around 30%, in their buying power. Homes that were bought 3 years ago for $500k at 3% are now trying to sell for $800k or more at a 6% rate. That’s about a $2k/month difference in monthly mortgage payments if both put 20% down. And an extra $60k down payment. I will make sure to keep you aware of what we are seeing.
If You’re Looking To Buy, Sell Or Invest In Real Estate,
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Keller Williams Charleston/West Ashley