AgentOwned Realty

Avondale/West Ashley VS Mount Pleasant

Posted By: Gary Buchanan In: Charleston SC Neighborhoods
Date: Mon, Jul 31st 2017 10:59 am

Today I would like to do some basic comparisons as there might be some people asking themselves if they really want to spend their retirement savings on a home in Mt. Pleasant VS spending much less in the Avondale area of West Ashley.  At first you might think this is ridiculous to compare the two areas.  Well, let’s do some math and get some Pro’s/Con’s and you decide.  As an example, if you have $500,000 for buying a home, you could have a lot left over for doing some minor rehab (for ex: New Kitchen, deck, floor, etc), vacations, boat, new car etc, if you chose to buy in the Avondale area (note median home prices below for each):

  1. Home Prices
    1. Very high in Mt. Pleasant as the market was so hot over the past 4+ years
    2. Lower prices in Avondale/West Ashley area since it is just now getting hot in the area (room for more)
    3. Median Price Changes from 2012 and 2015 (numbers as of Dec 31, 2016)
      1. West Ashley +35.8% - 2012      +9.9% - 2015
      2. Mt. Pleasant is split up as Upper and Lower
        1. Upper Mt. Pleasant +43.6 – 2012   +6.1%-2015
        2. Lower Mt. Pleasant +39% - 2012    +9.9%-2015
    4. Median Prices for the past year
      1. West Ashley (2016-2017) - $272,000 $292,320   Up 7.5% Year to Date
      2. Upper Mt. Pleasant (2016-2017) - $465,000    $473,207     Up 1.8%  Year to Date
      3. Lower Mt. Pleasant (2016-2017) - $485,000    $511,278     Up 5.4%  Year to Date
  1. Proximity to downtown Charleston
    1. Pleasant is just across the Ravenel Bridge, but it depends how far North on 17 you are and how bad traffic is. It could take 15 mins or 1 hour depending. 
    2. Avondale area is just across the Ashley River Bridge. Most of this area can be downtown in 10 mins
  2. Access to stores and other
    1. Grocery Stores – Mt. Pleasant has the most grocery stores in the whole Charleston metro area, so no worries there. Avondale/West Ashley has plenty of stores like Earth Fare, Publix and Harris Teeter.  Bi-Lo and Costco are up the road a bit. They also have a new Whole Foods being built and should be done by this fall.
    2. Restaurants – It all depends on what you are looking for. Both areas have their fair share of eating establishments.  I have notice Avondale area has gotten a few extension restaurants from the successful downtown Charleston venues (ex: Pearlz, R Kitchen)
    3. Retail - Mt. Pleasant has a large amount of stores.  West Ashley has them as well, but not at the number of Mt. Pleasant.  They both have the Walmarts, Target, etc.
  3. Traffic headaches - Both have their issues
    1. Pleasant has tried to keep up with the latest design flows but it is hard to stay ahead of the massive growth.
    2. West Ashley is in the middle of their Revitalization project where they are expanding intersections for better traffic flow. They have hired a Traffic Consultant company to work on timing lights better as well.

So for my money, I would be happy to spend less than $500,000, so I could have the extra cash to spend on the nicer things in life (vacations, boat, etc).  On the other hand, IF you had $1,000,000 as your budget, you can spend that easily in Mt. Pleasant.  There are a few places in West Ashley that demand that price tag (nice water access/views). 

There is also that unknown on how much the homes in both areas will continue to appreciate.  Can Mt. Pleasant homes continue to go up as well as they have in the past 3+ years..?  Also, can West Ashley homes explode up in price since Mayor Tecklenburg is focusing on West Ashley for Revitalization?  You know what they say about home prices once the Whole Foods comes to the neighborhood.

Do you want to know more about the possibilities…?  Give me a call or email and I would be happy to help you out.

Gary Buchanan/Realtor® w/AgentOwned Realty -              843-647-7743