The Charleston real estate market has continued its trends of lower inventories and rising prices. The inventory of homes for sale is down 21% from last year causing the number of days on the market to drop significantly. Right now, the homes that are priced well and show well are selling within a week or two of being listed, often with multiple offers.
What does this mean for you as a buyer? When you find a home you want to see, let us know so that we can make an appointment! Acting quickly will boost your chances of being able to purchase that top pick among the homes that are your favorites. Prices are no longer going down, but rather trending up, so right now we are seeing many buyers ready to purchase who had previously waited for the bottom of the market. In other words, now is a great time to purchase a new home or investment property.
So far in 2012, there have been 9,861 homes sell in tri-county Charleston. Prices are up 6% across the board (which takes into consideration even the slower areas that see less demand). If you have any questions regarding buying, selling, or refinancing your home we would be glad to guide you through this process!