According to the latest numbers, inventory is at rock bottom.
There’s a massive inventory shortage in our Charleston real estate market.
At 0:28 in the video above, you can see a graph that demonstrates this. During May of last year, we had over 5,000 homes available for sale, which is considered normal. We also closed roughly 1,500 homes during that month. As of the end of this April, we only had around 1,300 homes available for sale. Meanwhile, the number of homes we’ve been able to close has risen to over 2,000. This shows you why it sometimes feels like there aren’t enough homes for the buyers in our market. At 1:19 you can see that at the time I recorded this video, there were 1,409 residential homes for sale. By the first weekend, I’m sure that number went up and then fell below 1,400 once Monday hit.
If you have questions about these numbers or there’s anything else I can help you with, don’t hesitate to reach out to me. I’d love to assist you.