Time to Buy? Time to Sell? Summerville Market Update with Foster Smith

With home prices steadily increasing over the last six years in the Charleston and Summerville area, Foster answers the questions “Should I wait to buy?” and “Should I wait to sell?”

Should I wait to buy a home for sale in Summerville

Many people ask me this question wondering if the prices may go down.  I point them to the law of supply and demand. We are stubbornly low in the Charleston & Summerville Real Estate Market.  Currently, there are 5,269 homes for sale in the area; five years ago we had 12,000 houses for sale in the Charleston area.  Prices have been going up for the last 6 years and continue to do so. Which leads my clients to the follow up question…

Should I wait to sell my home for sale in Summerville?

Well, if prices are going up, then shouldn’t we wait to sell our home? My answer to this is a strong “Maybe.”  While prices are rising, the interest rates are also going up, which narrows the window of people who will qualify to buy your house and have the means to do so.

Each home, family and situation is specific and there is no right answer for everyone. This is why I like to talk with my clients and discuss what the right step for them will be. I have counseled many people to wait a year, others to list immediately. My goal is for you to have the best possible outcome when it comes to selling and buying a home.

Please give me a call at 843-974-6029 to discuss your home, or fill out this form for a quick look at what your home might be worth. To start shopping and looking at homes for sale in Summerville right away, hop over to my website to browse homes for sale.

Look forward to hearing from you!

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