Charleston Market Conditions Video Recap: If you don’t have time to watch the video here are the bulletin points!
National Real Estate:
- National Average: 18% Decline in Inventory across the nation on average.
- Nationally, sales have increased for the past nine months.
- Distress Sales are DOWN.
- Distress Sales in 2011 accounted for 40% of the sales nationally.
- The distress sales this year are between 29-34 %.
- Investment Sales are UP.
- 2010-17%,of sales were by investment buyers.
- 2011-27% of sales were by investment buyers.
Charleston Real Estate:
- Nearly 5,000 Homes currently for sale in Charleston, SC.
- 1500 Condos & Townhomes are for sale in Charleston, SC.
- 7.6 months of inventory. A good balance is 5-6 months.
Summerville Real Estate:
- 925 Homes for Sale in Summerville, SC
- 525 Homes in Summerville are for sale under $200,000.
- 400 Homes in Summerville are for sale over $200,000.
Recap: Inventory is down, prices are not back up, but the market is producing sales. Multiple offers are beginning to happen again.