Charleston New Homes - Charleston Home Builders Association

Charleston New Homes
Snapshot
­­Volume SEVEN | Issue ONE | January 2015
Observations & Trends
Welcome to the first issue of the Charleston New Homes Snapshot for 2015. I
hope everyone enjoyed the holiday season and is ready for a great 2015! For the first
time in over 8 years, there are many national real estate forecasts projecting a solid
2015 and I expect it to be even stronger here in our local market. Even with new
home inventories down in 2014, it made up 23% of all the closed homes in the Tri—
County area with just over 3100 closings. We also saw our single family permits rise
to over 4,000 pulled last year. Within our three county market, there are many new
communities set to open including two large master planned communities, Nexton
and Summer’s Corner by Mead Westvaco in the first half of this year.
With job growth projected to continue to increase and the increase of household
formations and baby boomers retiring to our area, I project 2015 to see continued
growth in our local new home market. In the graphs below, we will look at permits,
closings by county and a chart comparing starts and closings.
~Will Jenkinson
New Homes Services
Quarterly Permit Comparison
Land & Asset Services
Community Sales
& Management
Professional Site Agents
Training Programs
Market Reports
(Research)
Marketing/Design
Services
Above you will find a graph from Real Estate Information Service, Inc that compares
the quarterly permit from the 4th quarter of 2011 through the 3rd quarter of 2014.
Each Quarter has shown improvement in permits over the same quarter in the past
3 years. Typically, strong permit activity is a good sign that builder confidence is
increasing in the market. This is always a strong indicator of the future and it seems
positive by this graph.
© This material is the property of the Real Estate Information Service, Inc. and Carolina One New Homes and cannot be used without consent.
New Home Closings by County 2014 YTD
Above you will find a graph from Real Estate Information Service, Inc that shows
the new home closings by county through the 3rd quarter of 2014. As you can see,
Charleston County leads the way with 810 closings and 44% of all the new home
closings for the Charleston MSA. The top two Charleston County communities are
Carolina Bay and Carolina Park and they make up over 25% of the total number of
new home closings in the county. With new communities opening up in all 3 counties
in 2015, we will continue to see this graph balance out.
STARTS vs CLOSINGS
For more information on new home
data and REIS contact:
Brian J. Foster
Sales and Research Consultant
bfoster@reisonline.com
Office: 843.297.7182
Mobile: 843.723.8682
Contact Information:
Will Jenkinson, BIC
wjenkinson@carolinaone.com
843.202.2023
The chart above provided by Real Estate Information Service, Inc shows the
new home starts and closings from Jan 2013 through September 2014.
There has been steady growth in both of these areas during this time frame
and with the builder confidence continuing to improve along with other market
indicators, I project that both of these will see strong growth into 2015.
© This material is the property of the Real Estate Information Service, Inc. and Carolina One New Homes and cannot be used without consent.