Due to low inventory, Charleston is in a very strong seller’s market.
The current state of our Charleston real estate market is heavily dependent on inventory. Over the last few months, inventory has continued to drop. In a steady market, there are usually around 5,000 homes for sale. As of the recording of this video, there are 3,010 homes for sale—we’ve been hovering around the 3,000 mark lately.
What we need are home sellers who are motivated to list right now. The good news for sellers is that interest rates are still low, which means buyers are motivated to buy. Therefore, your home stands a great chance of selling if you price it correctly and optimize its condition. You’re already in one of the best seller’s markets Charleston has ever seen.
If you’re a buyer, the situation is tricky due to our lack of inventory. Make sure you’re serious about buying, organized, have enough money saved up, and have a pre-approval letter ready before moving forward.
If you have questions about our Charleston market or any part of the home buying or selling process, don’t hesitate to call or email me today. I’d love to help you.