Realtor.com predicted last year that Charleston would be a top real estate market as buyers searched for affordable alternatives to larger, more congested cities. The forecast for a strong real estate market in Charleston turned out to be accurate, as the Charleston real estate market continues to break records month after month.
The housing market in Charleston is projected to be among the top ten in the U.S. for the next several years. According to the Charleston Regional Business Journal, reasons behind the strong performance of the Charleston real estate market include relatively affordable housing, consistent job growth, and solid local economic expansion.
Charleston is also ranked by BiggerPockets as one of the top seven best cash flow markets in the country, with low unemployment and double-digit population growth helping to generate potential gross rental yields of nearly 10%.
In the last 10 years, Charleston has experienced some of the highest home appreciation rates of any community in the nation. Charleston real estate appreciated 104.73% over the last ten years, which is an average annual home appreciation rate of 7.43%