William Means Real Estate, one of the oldest real estate companies in Charleston and an exclusive affiliate of Christie’s International Real Estate, has generated more than $124 million in home sales so far this year.
“Locally, Charleston’s real estate demand is strong, but the inventory has been lower so far in 2018,” said Drew Grossklaus, director of sales for William Means and the firm’s East Cooper broker-in-charge. “Worldwide sales of million-dollar-plus homes in primary housing markets are up 10 percent year-on-year, the strongest annual growth rate in the past three years.”
Christie’s International Real Estate’s just-released 2018 “Luxury Defined” report cites a reenergized global economy, stock market strength and rising consumer confidence. Now in its sixth year, the study synthesizes data from more than 80 brokerages worldwide, including William Means Real Estate, compiling observations of luxury drivers from on-the-ground experts to overarching insights from Christie’s International Real Estate executives.
William Means has sold $34 million in downtown Charleston so far this year, closing on 27 downtown homes with eight of those located South of Broad with the No. 1 average sales price of $1.475 million. The firm represented both the seller and the buyer for the sale of the historic home at 22 Legare St.
In the Mount Pleasant area, William Means represented 35 residential sales, 13 of which are located in I’On, including the highest neighborhood sales price so far in 2018. During the first half of the year, the firm also recorded the highest home sale in Belle Hall. William Means also represented five under contract or residential sales on Sullivan’s Island and the top home sale on Johns Island so far this year.
Looking ahead to the second half of 2018, Grossklaus said he “anticipates demand remaining strong for the remainder of the year, but housing inventory in Charleston will continue to be the biggest concern.”
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