Here are the current numbers for the Charleston, SC Real Estate Market:

Listings For Sale:  9,119
Listings Pending Sale:  1,824
Closings:  615 (Unofficial Numbers for October)

Now is the time of year when sales start to slow down, which directly correlates to the reduction in inventory we will see over the next 60 days.  Many believe that Spring is a "better" time to sell their home because that's when more people are looking.  I challenge that belief; December has always been my best month in sales. 

Maybe it's because there are less Realtors working, which makes it easier for me to gain market share an sell more homes.  I think it has more to do with the mentality of Buyers and Sellers.  Many have set a mental goal of owning/selling a home by the end of the year.  By the time Halloween passes everyone says "Holy Cow!  It's November!"  This can be a motivating factor for many.  Don't underestimate it!  Plenty of homes sell in the last 60 days of the year - there's no reason why your home shouldn't be one of them.

Unfortunately, unless motivated by some serious reason to sell (divorce, job loss, death in the family, desire to liquidate for available equity, etc.) many sellers in this market will likely not receive the interest necessary to generate an offer.  Most Sellers in our market have had their home on the market for several months and are trying to get as much as they can for their home while pricing it competitively enough to have people schedule showing appointments.  The problem we're experiencing is that 1 in 3 sales in our marketplace are distressed properties (Short Sales and Foreclosures).  Banks understand that the end of 4th quarter and the beginning of 1st quarter generates a smaller amount of Buyers so they may be more willing to negotiate on a property.

Competing with these types of properties is difficult because they're the market leaders in price.  Banks are pricing property below market value and for less than the most recent sale in the neighborhood.  The fact that we're going to experience Foreclosures in high volume in Charleston for the next 12-24 months makes pricing a home VERY important.  As Realtors, we're not trying to "give your home away" when we suggest a price you may not agree with - we are simply trying to help you accomplish your goal of a quick sale for the highest price (if that is in fact your goal).

Stay positive and continue to make sure you're doing all you can to sell your home.  It may not always mean dropping the price.  Perhaps your home could use a fresh coat of paint, some organizing and clean-up or staging to showcase the benefits and features of your home. 

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