MOUNT PLEASANT, SC (WCSC) - The Mount Pleasant Planning Commission is considering a limit for new homes built there in the future to scale back on the development of businesses and homes in this exploding growth town.
If the plan is approved by the council, it could impact the supply and demand for this area that is already in high demand.
According to the Multiple Listing Service there are over 1,300 homes for sale in Mount Pleasant, and of that number nearly half are under contract, meaning they're on the way to being sold.
"The market is really, really hustling," Stan Huff, a Realtor with Agent Owed Realty in Mount Pleasant, said.
Huff added this is a very good number for the market right now, especially given the demand.
"I think it's a booming real estate market right now, so I think it's been pretty easy for families to sell their homes," Katey Deas, a homeowner who is selling in Mount Pleasant, said.
However some agents are concerned about the market's supply and demand if the town council decides to approve the plan. It looks to limit the number of homes along Coleman, Johnnie Dodds, Ben Sawyer boulevards and other areas in the so-called "Urban Corridor".
"If it were implemented to quickly or too harshly, it could have a negative or opposite impact," Huff said.
One of the negative affects could be affordable housing, which is already an issue in the market.
"What that will do is a school teacher, a news anchor, or even a real estate agent can't afford to live here anymore," Huff said. "So it limits the number of folks who get in so you can get a premium."
"I do think that home prices have gone up a bit, so it may be harder to people to find something in their price range in the Mount Pleasant area," Deas said.
According to Huff, the average price of a home in Mount Pleasant is around $275,000.
Some homeowners do understand the need for management on growth, but don't feel it will greatly impact the area.
"Whether it expands or it doesn't I feel like Mount Pleasant is always going to be a desirable place to live," Deas said. "I don't think there will be issues in the future with people trying to sell their homes in the future if they do try to limit the growth."
When it comes to renting, Huff said it can be almost cheaper to buy a home instead of renting. He said families have saved about $1,000-$2,000 in the long run by deciding to become a homeowners. As for apartments, he was unable to comment about those statistics.
The growth management plan is now in the hands of the town's planning commission. They will make suggestions and changes before it heads to the full council for a vote.