Charleston, SC Real Estate Market Update January 9th, 2011

Jan 23rd 2011

Posted By: Brian Beatty @ 9:52am In: Market Update

There are presently 8334 listings for sale in the residential MLS of Charleston. There are 1596 properties in pending status. This number declined tremendously at year end, but seems to be growing very slightly at this point. The final sales number for December was 661, which was a rather impressive number for The Holidays.

Thus far, January has started off very strongly with active showing activity in most price ranges. We are also seeing people put properties at all prices under contract. Demand is still low, but due to the foreclosure freeze of October and November, so is inventory. Now, is perhaps the best point in time to sell a home in the past three years, given this temporary reprieve of foreclosure listings. We expect this to change in the next 30 days.

For marketing this year I have renewed Homes.com, Trulia.com and Zillow.com - all websites have the upgraded Account that showcases our listings to enhance user traffic. I have also extended my contract with Home Traditions Magazine and will continue to market my properties for sale on the inside front cover.

While there are still many sellers ready to sell now, I have been able to sell two homes this week that are bringing full market value. One received a contract in 11 days and the other in just under 30 days in areas in which homes are selling, on average, in nearly 6 months. This tells me, overwhelmingly, that my marketing is working. Our focus needs to remain on the "behind the scenes" push of agents and prospects and a keen eye on price and value in the market.

Share this Post: