Luxury Real Estate in Charleston Area, South Carolina Blooms

Luxury Real Estate in South Carolina has been on the move and one of the main areas that has shown a lot of movement is Charleston. Definition of luxury properties in the Low country has evolved in multiple ways in the past decade especially.

The availability and acceptance of prestigious luxury homes across various locations has enabled new areas to emerge in terms of luxury real estate pockets. Luxury real estate in America works in various ways due to the huge size of the country and the market thereby.

There are so many new luxury property hubs within Berkeley, Charleston, and Dorchester Counties. The overall luxury real estate market manages to ride high and pushing itself higher with the influx of luxury home buyers moving to the Charleston location for the amazing atmosphere, warm people, and a relaxed lifestyle.

As one of defining the luxury real estate market, the National Associations of REALTORS® (NAR) looks at the best Ten percent of the land market to be luxury. As per the NAR, around 5 per cent of deals in the Lowcountry, registered in the CHS Regional MLS qualify as 'Luxury'. These are around USD 750,000 or above even crossing 1 million USD or more.

Luxury real estate the Lowcountry has proved its worth in 2020 following up on the very good record that it set for itself in the previous year.

There is a segment at the top 0.15% of the overall population here, that buy these luxury properties that cost even over 4 million USD.

There are many factors in 2020 that have contributed significantly to the rising demand for luxury homes in South Carolina in the Lowcountry and Charleston area.

The shortage of good homes for purchase, very little area to expand for development, very attractive home loan financing options compounded by the Covid pandemic related restrictions have ensured that the costs for available homes have gone higher.

Many families and individual buyers have curtailed their travel and are opting for spacious homes that they are now used to because of the work from home compulsion. In fact many luxury home buyers plane to make work from home as a regular feature in their lives and therefore the demand for homes with more space and home office arrangements have increased significantly. These have definitely contributed to the phenomenal growth of luxury real estate market in Charleston.

Some of the well-known luxury real estate agencies in Charleston area include Oyster Point Real Estate Group, The Cassina Group, Charleston Luxury Group, Handsome Properties, Marshall Walker Real Estate, Daniel Ravenel Sotheby's International Realty, Miller and Associates Luxury Real Estate, Locountry Real Estate and many more.