Charleston, SC Real Estate Market Update May 9, 2010

Aug 14th 2010

Posted By: Brian Beatty @ 9:19am In: Market Update

Market data has remained relatively stable this week; the only new item to note is an obvious slowdown in the number of showings and new pending contracts as compared, weekly, to the past four weeks. While this is a notable slowdown, its far from a "plummet." The coming weeks will be very telling.

In my experience, I found that instead of focusing on the slowdown, we best prepare for it as we've done throughout this crisis. There are two main ways to do this: Price improvements and marketing improvements.

On the marketing front, we have just signed a one-year contract with Zillow to showcase all of our listings at the top of their searches. We already do this on Realtor.com, but we've now added an expansive product to Zillow's site. We've begun to see an increase on our listings on Zillow by way of calls and email inquiries.

With this added marketing piece, I expect to offset any declines in exposure we may experience post- Tax Credit and FED MBS activity. While this may not increase the traffic on your listing, it will help us to compete against a market-driven decline in traffic online, which is the first step to sales success.

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