If you’ve checked out the latest Charleston real estate statistics, you’ve seen that last year was one of the strongest years in our metro’s recorded history. Although the average home lasted 58 days on the market before it went under contract, the listings that are most desirable often go under contract within just a few days for full list price. The homes in Charleston that sell the fastest are: priced well from the start, in good condition, newer, located closer to Downtown Charleston and the beaches, and zoned for good public schools.
Most buyers don’t realize how fast paced the market is now, especially if they’re relocating from another part of the country where it’s a more balanced market. Charleston currently has one of the strongest sellers’ markets the area has ever seen. I remember there was a new listing a few months ago on James Island. On the day it became active on the MLS, there was literally a traffic jam on the dead end street as clients met with Realtors to view the home. There were over 18 showings on the first day of getting listed!
Buyers Currently Living in Charleston Have an Advantage
The reason is obvious. When a new listing hits the MLS (Multiple Listing Service), Charleston residents are able to schedule a showing usually within 24 hours. With our increasingly fast paced market, buyers are preferring the brand new listings over ones that have sat on the market. Although some neighborhoods sell well and simply require some days on market before the successful offer, the pent up demand from buyers has resulted in a market that is unlike any we’ve seen in our 14 years’ experience.
Another advantage for the buyers who live here is getting to see homes before they even hit the market. Our company, Carolina One Real Estate, sells most of its listings in house. We have the benefit of learning about new listings often the week before they’re entered into the MLS. In these cases, a phone call to the listing agent allows us to show the home to our clients before it’s even on other buyers’ radar. When our buyers live in town, it’s easy to meet up to view these “pocket listings.”
Tips for Out of Town Buyers
Many of our clients are relocating to Charleston from all around the United States. These folks don’t have the luxury of being able to make same day or next day showing appointments when they see a new listing that piques their interest. We always emphasize that these clients should let us know in advance when they’re planning a trip so that we can set aside time to meet with them. The more notice, the better!
If you’re planning a trip to Charleston, here’s a list of things we need so know so that we can make the most of your visit:
- Where you’ll be staying; it’s a good idea to choose a hotel in the area where you’d like to purchase so that you can test drive it for a few days and check out local restaurants and shopping. If you’d like a hotel recommendation, we can help!
- Will you be flying in or driving? In other words, will we need to pick you up when we go to see homes, or will you have a car?
- How familiar are you with Charleston? Are we comparing different areas or honing in on particular neighborhoods?
- Do you have a home to sell first? Most sellers won’t accept this type of contingency, but some builders do!
- What is your time frame for making an offer? Do we need to prepare to make an offer this trip, or are we just getting a feel for neighborhoods and the type of home you can get for the money?
- Have you been approved by a lender, or do you need a good recommendation to get started?
The better we can plan your trip, the more helpful we can be! We want to make the most of our time together, especially in such a strong sellers’ market so that you can see all of your options and find the best home suited for you.
Taking the Next Step
If buying a home is one of your personal and financial goals this year, it’s never too early to start your home search! When clients have a realistic understanding of how strong our local market is, we can better help them secure their top pick among the constantly changing inventory. Whether you’re a Charleston resident who’s ready to make an offer or an out-of-towner who needs to get more familiar with our area, The Keadle Group can help! Contact us to get started!