What Happened Last Month in Real Estate in Summerville, SC?

Homes for Sale in Summerville, SC

May has arrived in Summerville and we’re moving into some beautiful weather! The strong spring real estate market in Summerville, SC slowed down a little but this was mainly due to lack of inventory.  Many of my listings have received multiple offers within days (or hours) of being listed.  According to our Summerville real estate market reports, we have 31% less homes for sale in Summerville then we did this time last year.  We continue to have only 2 months supply of homes for sale in Summerville .

This lack of real estate for sale in Summerville, SC has placed us squarely in a seller’s market and continues to drive Summerville prices up and place a large demand on new homes for sale in Summerville SC. The average price per square foot in Summerville is up to $113/square foot.

If you want to buy a summerville home, you need to act quickly and intelligently as a buyer. Ensuring that you are working with an experienced Summerville realtor will save you headache and heartache when you try to purchase a home in Summerville. When you are purchasing, don’t forget these Four Vital Questions to Ask When You Buy a Home.

I can help you if you are interested in seeing real estate for sale in Summerville, SC ,  buying a home in the Summerville areanew home in Summerville , a historic home in Summerville or selling your Summerville home.

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.

What Happened Last Month in Real Estate in Summerville, SC?

Real Estate for Sale in Summerville SC

April has arrived and the strong spring real estate market in Summerville, SC continues to move full steam ahead!  According to our Summerville real estate market reports, we have 32% less homes for sale in Summerville then we did this time last year.  We continue to have only 2 months supply of homes for sale in Summerville .  (Not sure what “months supply of homes for sale means?” Learn more in this article about What drives home prices up in the Summerville Real Estate Market.)

This significantly lower amount of real estate for sale in Summerville, SC has placed us squarely in a seller’s market and is driving Summerville prices up and placing a large demand on new homes for sale in Summerville SC.

If you want to buy a summerville home, you need to act quickly and intelligently as a buyer. Ensuring that you are working with an experienced Summerville realtor will save you headache and heartache when you try to purchase a home in Summerville. When you are purchasing, don’t forget these Four Vital Questions to Ask When You Buy a Home.

I can help you if you are interested in seeing real estate for sale in Summerville, SC ,  buying a home in the Summerville areanew home in Summerville , a historic home in Summerville or selling your Summerville home.

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.

Summerville Real Estate Market Report – March 2017

Real Estate for Sale in Summerville, SC

March has arrived and we are in the midst of a very strong spring real estate market in Summerville, SC. According to our Summerville real estate market reports, we have 35% less homes for sale in Summerville then we did this time last year.  Currently we continue to have only 2 months of inventory on the market in Summerville. Not sure what “months of inventory means?” Learn more in this article about What drives home prices up in the Summerville Real Estate Market.

This significantly lower amount of real estate for sale in Summerville, SC has placed us squarely in a seller’s market. Now, more than ever, it is important to be incredibly smart as a buyer. Ensuring that you are working with an experienced Summerville realtor will save you headache and heartache when you try to purchase a home. When you are purchasing, don’t forget these Four Vital Questions to Ask When You Buy a Home.

I can help you if you are interested in seeing real estate for sale in Summerville, SC ,  buying a home in the Summerville areanew home in Summerville , a historic home in Summerville or selling your Summerville home.

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.

Summerville Real Estate Market Snapshot for January 2017

Real Estate for Sale in Summerville, SC

Home Prices in Summerville, SC for January 2017

2016 was a strong year for real estate in Summerville, SC as we heard last week via video in my Summerville & Charleston Real Estate Market Update for 2017.  All indications are that 2017 will continue to follow the trend of low inventory and rising sales prices in Summerville. January, which is historically a slow month, confirmed this fact.

Houses Sold in Summerville:

In January 2017, the town of Summerville saw a 5% increase (over Jan. 2016) in closed sales with 213 homes sold and closed last month.

Days on Market in Summerville:

The median number of days a house is staying on the market is 16 days.  This is indicative of the low amount of inventory and the tenaciousness of the buyers. When a house is properly priced and in good condition, it is snatched up quickly. This is why you need a knowledgeable agent watching the market for you and sending you listings. (Sign up here if you would like to receive listings.)

Average Sales Price in Summerville:

Real Estate for sale in Summerville, SC saw an increase in the average sales price last month. The average went up 14% to $236,615.

Inventory in Summerville:

The number of houses for sale in Summerville continues to dwindle and we are down 35% compared to this time last year. There are currently 687 homes for sale in Summerville, SC at the moment.  New home construction in Summerville is being built and new subdivisions are going up in the area. Master planned communities like Nexton, Summers Corner and Cane Bay Plantation continue to develop and offer more choices for people wanting to move to Summerville.  As I mentioned in my market video, 45-60 people are moving to our area EVERY DAY. This is what continues to drive the home prices in Summerville and keep the inventory low.

Currently we continue to have only 2 months of inventory on the market in Summerville. Not sure what “months of inventory means?” Learn more in this article about What drives home prices up in the Summerville Real Estate Market.

Get in Touch

Please feel free to contact me if you are interested in buying a home in Summerville. I will be happy to help you learn about the Summerville area and what homes are available, or will soon be coming available.

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.

 

Summerville & Charleston Real Estate Market Update 2017

We are at the end of the first month of 2017 and it is time to look at and analyze the Summerville Real Estate Market with me!  Understanding 2017 and what lies ahead means we need to look back at 2016. Last year, the Charleston and Summerville Real Estate Markets continued to grow stronger and there are many indicators that this trend will continue into 2017, let me tell you why.

In the Greater Charleston, SC Real Estate Market:

  • Sales up 9% from 2015
  • Median Price up 1% from 2015
  • Days on the Market down 12% from 2015
  • Inventory down 10% from 2015

In the Summerville, SC Real Estate Market:

  • Sales up 15% from 2015
  • Median Price up 8% from 2015
  • Days on Market down 17% from 2015
  • Inventory down 22% from 2015

Because of low inventory, it is now a sellers market in Summerville, SC. Some people are wondering “Are we on the edge of a cliff like we were in 2008?” “Is the market going to fall out again?” I am inclined to answer “No” due to several factors.

  • Job Market has grown by 80,000 jobs since 2005.
    • 2005– 278,000 jobs, 2016– 358,000 jobs
  • Desirability of the Charleston/Summerville area.
    • 45-60 people per DAY are moving to the Charleston area.
  • Median income is up 25% from 2005.
    • Changed fom 45K/year to 56K/year.

The real estate for sale in Summerville is down and the job market and economy is strong in Charleston. These all combine to make homes worth more and support strong prices.

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. While we are waiting to talk, try to read The Top Six Things that Impact the Value of Your Home.

Please feel free to contact me if you are interested in buying a home in Summerville. I will be happy to help you learn about the Summerville area and what homes are available, or will soon be coming available. While you are researching, make sure to listen to Four Vital Questions to Ask When You Buy a Home.  Some other articles that buyers find helpful are Five Bad Habits to Kick if You Want to Buy a Summerville Home in 2017, and How Much House Can I afford?

Summerville Real Estate Market Report November 2016

Real Estate for Sale in Summerville, SC

Home Prices in Summerville, SC for November 2016

The trend continues to climb in Summerville, SC Real Estate! We continue to see an increase in closed sales in real estate in Summerville, SC and November was no exception.

  • 250 Homes Sold & Closed -33% Increase from this time last year
  • 45 Average Days on Market -19% Down from this time last year
  • $226,671 – Average Sales Price
  • $109-Price/Square Foot
  • 740-Houses for Sale

As you can see from the info-graphic above, listings are in high demand because of the lack of inventory which continues to stay down 33% from the same time last year. To make sure you don’t miss your future home when it hits the market, you’ll need to have an agent that knows real estate for sale in Summerville, SC and the Summerville real estate market and has his ear to the ground for you and can help you make a quick, informed offer.

Find Homes for Sale in Summerville, SC

Visit my website to search for homes for sale in Summerville or to be notified when Summerville homes come on the market.

To find out what your Summerville home is worth in the current market email me or call 843-974-6029.

 

Home Prices in Summerville, SC – October 2016

Real Estate for Sale in Summerville, SC

Summerville SC Home Prices

The trend continues to climb in Summerville, SC Real Estate! We have seen 46 straight months of an increase in closed sales in real estate in Summerville, SC and October was no exception. Two hundred and ninety eight homes sold and closed last month which was a 22% increase over this time last year in Summerville.  Summerville residents must be reading Three Reasons to Buy a House in the Fall!

Read More at Real Estate in Summerville, SC.

Summerville Real Estate Report Summary

The average sales price in October for single family homes in Summerville was $232,538.

Find Homes for Sale in Summerville, SC

Visit my website to search for homes for sale in Summerville or to be notified when Summerville homes come on the market.

To find out what your Summerville home is worth in the current market email me or call 843-974-6029.