Everyone wants to be in an up-and-coming neighborhood! Home buyers know that a growing neighborhood means lots of new people, new businesses, better schools, and eventually better resale value. Lucky for us, most of Charleston is growing. The real estate market is growing, but there are still some tell-tale signs that a neighborhood is on the up-and-up, or trending down.
Proximity To… What’s Important
If the neighborhood in question is close to public transportation and other growing neighborhoods, there’s probably a good shot that it will start growing too. With the need for Lowcountry residents to travel on major highways for work, they most likely want to live as close as possible. Young families (the foundation of any up-and-coming neighborhood) also prioritize schools and other “hot” places around the city.
Retailers flock to markets with a lot of people and little competition. They want to get in on the ground floor, and so do you! Follow new business openings and look at where each are. Also, major retailers (like grocery store chains and big-box stores) spend millions of dollars and years deciding the best place to put a new store. Piggy-back on their efforts to find a great new neighborhood for you!
Existing Homes Are Being Renovated
Renovations are always a good sign. When many current owners are investing in their neighborhood, you can bet that they are expecting, or already seeing, major growth. The only way a run-down neighborhood makes it’s way into a desirable status is to fix the “run-down” part.
Days On Market Is Decreasing
If you’re stalking Zillow and Trulia and Realtor.com (and if you’re looking for a home, we know you are), days on market is an important metric in your search. If days on market is steadily decreasing in an entire neighborhood that’s a huge sign that it is becoming desirable.
Jobs and infrastructure development is also another indicator of a neighborhood changing for the better. Think Boeing and Mercedes in North Charleston! More people, more jobs, more houses, more neighborhoods, better neighborhoods, and so on and so forth.
Let Us Help You Find An Up & Coming Charleston Neighborhood!
The Charleston real estate experts at The Block will help you find your perfect home in the perfect neighborhood. We are constantly monitoring new neighborhoods and changes in the Charleston real estate.
We live and play in Charleston, so you can trust our expertise! We will show you the real Charleston and make sure you know what neighborhoods, styles, and costs are perfect for you. Get in touch with us online or call us now at (843)884-1622.
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