June 8, 2012— While condominium markets in cities throughout the United States have been affected by excess inventories, falling prices and a lack of buyers and investors during the past several years, a different story has been playing out on Charleston, SC’s Daniel Island. Although they represent a minority of the residential options on this 2,500-acre sea island in Charleston, Daniel Island condominiums have remained a popular way to experience the island lifestyle.
“Daniel Island offers options for a diverse range of condominium buyers,” says Rick Vale, Vice President of Sales and Broker in Charge at Daniel Island Real Estate. “We see single professionals, young couples, smaller families, pre-retirees and retirees – all interested in Daniel Island condominium living for a variety of reasons.”
From the convenience of living in the island’s downtown within walking distance to shopping and dining, to golf condominiums in the country club neighborhood of Daniel Island Park, those seeking the convenience of condominium living have historically had a wide range of options to choose from on Daniel Island.
“Some of our buyers are moving to a condominium to downsize or for ease of maintenance. Others are purchasing for dual purposes – a home for an aging parent or child in college that they also perceive as a good ‘investment’. Some people recognize that Daniel Island is the perfect location for a coastal ‘pied-à-terre’ that offers great access to historic Charleston and the beaches,” says Vale.
By the height of the real estate market in 2007, five different condominium developments (960 total condominium units) had been constructed on the island. But while most markets throughout the country struggled to move condominium inventory during the market downturn, sales on Daniel Island remained steady, and today just four newly constructed condominium units are available, along with 26 resale condos.
“Sales certainly moderated during the economic downturn, but we’re thankful that we retained a steady rate of sales at all price points,” says Vale, who attributes this to the quality of the award-winning Daniel Island development and the continued desirability of a Charleston and coastal lifestyle by an audience of national buyers.
Nationally recognized as a top master planned community, Daniel Island is a popular residential choice for people moving to Charleston. With a comprehensive offering of recreational opportunities, downtown shops, restaurants and conveniences, traditional residential neighborhoods, schools, churches and more, the island offers a small town setting within Charleston, attracting residents of all ages.
The island offers a mix of residential options – which range from entry-level homes, townhomes and condominiums to multi-million dollar deepwater and golf neighborhood homes – and an equally diverse mix of locations and amenities.
Located within 15 miles of Charleston, South Carolina's historic district, Daniel Island is a 4,000-acre award-winning island town featuring traditional neighborhoods, a vibrant downtown, parks, marsh-lined rivers and creeks, and a private country club with golf courses by Tom Fazio and Rees Jones. A coastal setting of rivers, creeks and the Charleston harbor provides the island with a wide array of water sports and recreation. Golf, marsh, deepwater and interior lots are priced from $175,000. Homes, townhomes and condos are available from $200,000.
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