Carriage Properties, LLC, Reports Strong First Half of 2012, Leading the Charleston Luxury Real Estate Market and Topping 2011
Carriage Properties, LLC, reports strong results in the first half of 2012, as measured by three benchmark sales metrics—South of Broad sales, south of crosstown transactions of $750,000+, and Charleston County transactions of $1.5 million+—in which the locally owned firm outperforms all other area agencies as well as its own 2011 results.
In addition to a somewhat improved real estate market in the Lowcountry, several multimillion-dollar Carriage Properties transactions contributed to the increases in 2012, including 52 Murray Boulevard on January 4 for $5.975 million (selling agent), 317 East Bay Street on April 5 for $3.187 million (listing agent), 172 Tradd Street on June 14 for $2.6 million (listing and selling agent), and 32 Church Street on June 29 for $2.23 million (listing and selling agent).
According to Carriage Properties founding partner Judy Tarleton, these half-year results “are a strong indication that the luxury real estate market continues to regain strength, as we see buyers investing in some of the area’s costliest homes. They’re feeling that now is the time to buy.” Tarleton explains that sellers, in response to the general downturn in the market, are pricing homes to sell, prompting more buyers to get out there and make offers. In addition, buyers are seeking to take advantage of the current low interest rates. Due to this combination of factors, says Tarleton, she is seeing some properties receiving multiple offers, a rarity in recent years.
Half-Year Results Reveal Dominant Agency South of Broad
For the first six months of 2012, Carriage Properties reports $33.675 million in real estate transactions South of Broad, for 37% of the total market volume. (By comparison, the next closest competitor was responsible for 17.51% of South of Broad transactions.) Compared the same period in 2011, Carriage Properties increased its sales volume ($27.938 million in 2011) by nearly 20.5%, and market share by 15% (from 31.9%).
Strong in Peninsular Charleston South of the Crosstown
Looking at the wider downtown luxury market (below the crosstown, selling for $750,000 or more), Carriage Properties was responsible for $44.6 million in sales volume, for 36.9% of the market (with the next closest real estate firm handling 16.8%). In the same period in 2011, the firm’s volume totaled $35.19 million, an increase of 26.7%, lifting its market share by 17.3% (from 31.4%).
Ahead in Luxury Homes County-wide
In the first half of 2012, Carriage Properties booked $37.224 million in sales of homes priced at $1.5 million or more throughout Charleston County, again securing the top spot in this market, with 16% market share. This reflects a 5.9% decrease in market share from 2011 (17.05%) but an increase in volume of 38.2% (from $26.927 million).
(photo: 317 East Bay Street)See All Charleston Real Estate Stories