Recent Changes in the Charleston Real Estate Market
Posted by Lee and Katherine Keadle on Friday, March 8th, 2013 at 12:04pm.
Most areas within the Charleston real estate market have undergone significant changes over the past month. In the most popular areas, we’re now commonly seeing listings get multiple offers within just a few days of coming onto the market. The inventory of homes for sale has been slowly diminishing over the past year, but only recently has the number of MLS listings reached the 4,000 mark. Some areas are seeing less than a 2 months’ supply of homes, which shows a strong sellers’ market.
If your time frame is more than 2 months, know that most of the homes we’re sending you will not be available when it comes time for you to purchase. However, these homes can certainly help you to keep an eye on the Charleston real estate market, learn what you can get for the money, and hone in on neighborhoods, etc. that fit what you’re looking for.
If you plan to purchase within the next 2 months, it’s important to go ahead and speak with a lender so that you have time to get your financing in order. When competing in a sellers’ market – and especially multiple offer situations – it will give us (and you) a much better advantage to include a prequalification letter with our offer to the sellers. If you’re looking for a trusted lender, Joel Greer is our in-house lender with Carolina One Mortgage. Feel free to email him at Joel.Greer@gbmail.com or call him at the office at 843-414-2489 to get started. Also, if you’re within this 2 month time frame, touch base with me so that I know exactly what you’re looking for. Not only can I adjust your saved search so that you see new homes as soon as they come onto the market, but I can also check for homes that are not yet listed on the MLS. That way, when you’re ready to see homes, we can be sure to consider all your options and get a head start in securing that top pick for you in Charleston real estate.