Charleston is the oldest and largest city in the U.S. state of South Carolina, the county seat of Charleston County, and the principal city in the Charleston–North Charleston–Summerville Metropolitan Statistical Area. The city lies just south of the geographical midpoint of South Carolina's coastline and is located on Charleston Harbor, an inlet of the Atlantic Ocean formed by the confluence of the Ashley, Cooper, and Wando rivers. Charleston had an estimated population of 134,385 in 2016. The estimated population of the Charleston metropolitan area, comprising Berkeley, Charleston, and Dorchester counties, was 761,155 residents in 2016, the third-largest in the state and the 78th-largest metropolitan statistical area in the United States.
Charleston was founded in 1670 as Charles Town, honoring King Charles II of England. Its initial location at Albemarle Point on the west bank of the Ashley River (now Charles Towne Landing) was abandoned in 1680 for its present site, which became the fifth-largest city in North America within ten years. Despite its size, it remained unincorporated throughout the colonial period; its government was handled directly by a colonial legislature and a governor sent by London. Election districts were organized according to Anglican parishes, and some social services were managed by Anglican wardens and vestries. Charleston adopted its present spelling with its incorporation as a city in 1783 at the close of the Revolutionary War. Population growth in the interior of South Carolina influenced the removal of the state government to Columbia in 1788, but the port city remained among the ten largest cities in the United States through the 1840 census. Historians estimate that "nearly half of all Africans brought to America arrived in Charleston", most at Gadsden's Wharf. The only major antebellum American city to have a majority-enslaved population, Charleston was controlled by an oligarchy of white planters and merchants who successfully forced the federal government to revise its 1828 and 1832 tariffs during the Nullification Crisis and launched the Civil War in 1861 by seizing the Arsenal, Castle Pinckney, and Fort Sumter from their federal garrisons.
Known for its rich history, well-preserved architecture, distinguished restaurants, and hospitable people, Charleston is a popular tourist destination. It has received numerous accolades, including "America's Most Friendly [City]" by Travel + Leisure in 2011 and in 2013 and 2014 by Condé Nast Traveler, and also "the most polite and hospitable city in America" by Southern Living magazine. In 2016, Charleston was ranked the "World's Best City" by Travel + Leisure.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Charleston, North Charleston, South Carolina. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!
The national average total real estate commission in 2015 was 5.26% *
In Charleston, North Charleston, South Carolina, you will find the following real estate commissions charged*:
Typical Asking Commission: 6.0%
Competitive Commission: 5.0%-5.5%%
Very Competitive Commission: 4.5%-4.99%
The median existing single-family home price in the South rose 6.7%, to $229,400, in the second quarter of 2017 compared to the the second quarter of 2016. Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:
In the State of South Carolina, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
|Myrtle Beach-Conway-North Myrtle Beach||$206,300||5.60%|
Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home. In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).
In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent. Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”. This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client. This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).
When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.
At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business. These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm. This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in South Carolina.
Sellers who are also buying a home in the same local market have a volume discount advantage. ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home. Be sure to check the box that you are also buying a home locally to receive these better rates.
Click here to see your savings in just 24 hours…
In 2010, the racial makeup of Charleston was 70.2% White, 25.4% African American, 1.6% Asian, and 1.5% of two or more races; in addition, 2.9% of the population was Hispanic or Latino, of any race.
Charleston is a major tourist destination, with a considerable number of luxury hotels, hotel chains, inns, and bed and breakfasts, numerous restaurants featuring Lowcountry cuisine, and quality shopping. Charleston is also an important art destination, named a top-25 arts destination by AmericanStyle magazine.
Commercial shipping is important to the economy. The city has two shipping terminals, owned and operated by the South Carolina Ports Authority, which are part of the fourth-largest container seaport on the East Coast and the thirteenth-largest container seaport in North America.
Charleston is becoming a prime location for information technology jobs and corporations, and this sector has had the highest rate of growth between 2011 and 2012, due in large part to the Charleston Digital Corridor. In 2013, the Milken Institute ranked the Charleston region as the ninth-best performing economy in the US because of its growing IT sector. Notable companies include Blackbaud, SPARC, BoomTown, CSS, and Benefitfocus.
In June 2017, the average sales price for a home in Charleston was $351,186 and the median price was $260,000.