Reminder - Real Estate is Local

Charleston and its surrounding islands provide a veritable cornucopia of luxury property. Like Spanish Moss, there is no shortage here in the beautiful Southeast, of spectacular pieces of paradise carved among Live Oak trees and Magnolias. Despite what I wrote just yesterday regarding the overall big - big picture in real estate markets; today, we're presented with the perfect opportunity to be reminded that real estate truly is a local thang.

From the Post & Courier, June 21, 2010:

Charleston County recorded its largest residential real estate transaction ever June 10 when an oceanfront Kiawah Island home changed hands for $14 million.

There are still some amazing sales out there. Oh, and mind you, this one sale is approximately equivalent to 10 houses selling all at once on the Isle of Palms; or 5-7 luxury homes selling simultaneously South of Broad. These are just hypotheticals, of course, but it provides a frame for the perspective of this sale. Wow. So, that's the good news. The bad news is that it might skew June's real estate sales statistics a bit once the final figures are tallied in the weeks to come. Nonetheless, good for Charleston County.