Charleston Vacant Land Market

Our team was recently asked about the state of vacant land around the Charleston area.  If you currently have vacant land on the market than you know this truth all to well.  There are VERY FEW vacant lots selling right now.

In most cases this is a result of the current state of the market more so than pricing and the 2 main reasons are:

1. Financial Institutions have almost no loan programs for lots—some lenders cut out “lot loans” completely last year!
2. With the distress of home prices there are incredible values that highly motivate buyers to buy a piece of existing inventory rather than build their own home.

For the buyers who have cash to buy the lot and must have a custom home, there are a lot of DISTRESSED PRICED lots in great neighborhoods that are available at extreme discounts.