Wow, what a lot of activity for the first 3 weeks of the year!

Current Inventory in Tri-County Area For Sale: 6,271 homes
Under Contract: 1,348 homes
Pending Sale: 435 homes
Sold since Jan. 1, 2012: 259 homes - 77 of which were Short Sales and Foreclosures (nearly 1 in 3 sales)

Lately, I've been seeing a lot of activity in the Isle of Palms, Wild Dunes, Sullivan's Island and Downtown Charleston markets - especially in the $500,000 to $1,000,000 range.  Many of the Clients I've been working with for the past few months to the past few years are starting to find the "value" associated with these areas to be attractive. Rental income has hardly subsides, yet prices have come down 30, 40, 50, 60% in some of these areas. Combine that with low interest rates and a Buyer that can put down 20% on a 2nd home or income-producing property can achieve a fair amount of NET RENTAL INCOME.

As always, Mt. Pleasant is a hot market and inventory has reached a point of stabilization. As an Agent that does a lot of business in this area of Charleston I am routinely coming across multiple offer situations - a sign that the Mt. Pleasant market is in line to see appreciation as the rest of the market begins to stabilize.

Sellers with well-priced, CLEAN homes are receiving contracts where the Sellers that do not price their homes effectively and/or have neglected the condition of the home are getting passed by. In order to sell in this market you must be able to appeal to a variety of Buyers looking for a wide range of uses for a home. Your success starts with keeping your home clean, neat and show-ready. From there, let the price of the home and the aggressive marketing draw in the Buyers.

If you'd like to discuss buying or selling a home OR would simply like more information on your specific area of Charleston please contact me.

Trackbacks (0)

Comments (0)

Post a Comment