TODAY'S HOUSING MARKET
During the month of June, we were able to help 19 families buy or sell their homes. We closed on 12 properties and placed 10 homes under contract, including 4 new listings! Inventory has risen from 1,000 active listings to 2,142 in our MLS today. That’s a 110% increase! The current median price in the Lowcountry is $390,000

Current Median Prices

• Summerville: $350K______________ ___• Mount Pleasant: $699K
• Goose Creek: $319K_______ _______ __• James Island: $670K
• Moncks Corner: $345K________ ______• West Ashley: $425K
• Hanahan: $385K_____________________• Charleston: $516K
• North Charleston: $323K_____________• Downtown Charleston: $875K

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In a move not seen since the mid 90’s, the Federal Reserve raised rates by 0.75%, continuing their plan to slow down inflation. Rates are expected to rise though the end of the year. When the Federal Reserve raises the benchmark interest rate, it affects the rates used to borrow money for homes, vehicles, personal loans - even interest rates on credit cards. In other words, the cost for consumers to borrow money goes up in the form of higher interest rates.

There are some ways you can protect yourself in a rising rate market.
• If you’re under contract: you should lock you rate now.
• If you’re building a home: work with a lender who offers extended rate locks.

We offer extended rate locks for 90 days to 360 days, and some lock terms don’t require a contract on a house. If you’re thinking about buying a house, now is the time to act. By purchasing sooner, you can lock in a lower mortgage rate before the next increase.

CONTACT OUR TEAM TO LEARN MORE!

UPCOMING EVENTS

July 9

Vince Gill
- North Charleston Coliseum & Performing Arts Center -

July 9
Southeast Crab Feast
- Wannamaker County Park -

July 13 - 24
Hamilton
- North Charleston Coliseum & Performing Arts Center -

July 16
Charleston Caribbean Jerk Festival
- Riverfront Park, North Charleston -

July 16
3rd Annual Anime Film Fest
- Charleston Music Hall -

July 21
Third Thursday: Christmas in July
- Hutchinson Square, Summerville -

July 23 - 24
Jurassic Jungle LIVE
- Trident Technical College, North Charleston -

July 29
JuLionfish Festival
- South Carolina Aquarium -

July 30
9th Annual Lady Bug Day
- Magnolia Plantation -