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Today, we’re here with a new market update hot off the presses. Most people want to know if it’s a good time to buy or sell right now.
So far this year, we’ve sold over 2,000 homes. That means either 2,000 people have moved to Charleston or traded up locally. If you’re thinking of selling your home, now may be a really good time.
Not only that, our median sales price is up 7.5%. That means if you have a $200,000 house, your home is worth $15,000 more. If you have a $300,000 house, your house is worth $21,000 more. The point is, if you couldn’t sell your house a year ago, now it’s a different story.
Finally, inventory levels are low. We only have 3.5 months of inventory available on the market. That means if no other properties came on the market, it’d take 3.5 months to sell all the homes currently for sale. An inventory of 5 to 6 months is considered a balanced market, and anything below that is a seller’s market.
If you’re a buyer, you are likely to run into some multiple offer situations in this competitive market. Don’t be nervous. We have a lot of properties coming online that not everyone knows about, so we can find something for you. If you’re a seller, now is the time to list your property!
As always, if you have any questions, give me a call or send me an email. I would be happy to help you and answer any questions you might have.
