Hello! Welcome to the fall market update! This is Foster Smith from Carolina One Real Estate. Coming to you from Charleston, South Carolina, the Tri-County area, specifically in Summerville.
How’s the market? Well, the market is like politics, it’s all local.
I put a house on the market last week. It was a $100,000 dollar investor property. We had eight showings in six hours, and one full price cash offer. According to that transaction, the market is great!
However, a little higher up the market is not as strong. Interest rates are rising up and causing the higher market to slow down a bit. Inventory continues to be stubbornly low. We have about half as many houses on the market now as we had five years ago.
The question rises then, “What should I do? Should I list my home before the holidays? With Thanksgiving, Christmas and New Years, I don’t know if I want to do that. However, the market is such that the inventory is low. We have people that are coming that are actually motivated buyers. I personally have couples coming from Florida, North Carolina, Virginia, Massachusetts, in the next month. They are coming in to buy a house. And that is just me personally.
There’s still a lot of pressure on the market to buy which indicates maybe you should put your house on the market. If you’re in the market to sell, even in the Fall, with the holiday season, it is a good time because we have a good motivated crop of buyers still looking.
If you are a home seller and would like to discuss your Summerville Home and what it is worth in our market today, please e-mail me for more information or fill out this form.