Charleston, SC Real Estate Market Update November 29, 2010

Dec 08th 2010

Posted By: Brian Beatty @ 2:00pm In: Market Update

8927 Active Listings on MLS
1844 Pending Transactions (a few drop outs have occurred - but nothing alarming)
8672 - sold year to date (meaning our active inventory represents just shy of 11 months - 5 months from a normal number - still way to high)
436 - sold month to date in November 2010.

We are seeing an expected overall slowdown in showings, however our inquiries are picking up; I always feel that January is "on-track" when this condition occurs. I believe our best shot to sell is in January, although we've sold several houses and have several in negotiation now. People are buying. In general, the Holidays is a time for a minor price correction, however, I would recommend a substantial one (2-5%) for the first week of January. In the past 3 years I have sold more homes in December than in any other month. Why? Because, I prepare to sell, and approach the market different, instead of using the same rhetoric everyone else uses: "The Winter is a bad time." Its simply not.

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