January 25, 2009
Charleston’s strong real estate market impresses Forbes
Congratulations Charleston, we’ve made another Forbes cream-of-the-crop list!
We came in #8 on the ‘America’s 25 Strongest Housing Markets’ list this year.
For all the flippers and investors out there, don’t jump in yet though; according to Forbes, you should wait until the end of ‘09 – maybe so they can buy everything up first. 
Of course, I don’t think the ‘blue blood’ S.O.B.* residents on the Charleston Battery will be going anywhere anytime soon!
Charleston stats qualifying it for the Forbes list this year
| Metro Area: | Charleston, SC | |
| Population: | 666,900 | |
| Bottom expected: | late 2009 | |
| Forecast price change to bottom: | -1.1% |
Now we can look forward to more development & traffic, and even less green spaces.
For the current real estate market around Shem Creek and surrounding Charleston areas, just check the Charleston Real Estate page.
Data was provided by Moody’s Economy.com. It looked at metro areas with populations over 500,000 to find those closest to recovery. The firm prepared forecasts through 2011 and compared them to prices in the second quarter of 2008, which are the latest figures available, to calculate how far prices will likely fall before reaching bottom. The percent figures are price drops between second quarter 2008 and the projected bottom. Cities are listed by their percent change to bottom.
* For those unfamiliar, no harm intended. S.O.B. is a common term here in Charleston – it stands for South of Broad, the main street through downtown Charleston that separates the wealthy from the very wealthy, i.e. prime property – including the Charleston Battery on the waterfront.
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