Quick real estate update from Charleston, SC.
Our residential market continues to be "very hot". Up by 13.9% in terms of number of homes sold in the last 12 months compared to the previous 12 months. Up by 16.3% in median home price since last year. And down by 47.1% in inventory!
Our market is very under-supplied! It appears that low interest rates have stimulated demand and the COVID pandemic and the election only fueled it, while not many people are willing to sell.
Home Sellers: Did you know you may have to negotiate your home up to three times? Anyone can sell a home in this market. But not everyone can get a top market price after all three negotiations are said and done.