Now is STILL a Great Time to Sell
For the last six to eight months, if you’ve paid attention to the news, all you have heard is how the housing market is suffering. Interest rates are rising and home prices are dropping, etc, etc…
Well I am here to tell you that for the Charleston, SC area this is not entirely true and despite what you might have heard, it is STILL a great time to sell.
The continued housing market strength in Charleston and the surrounding areas such as Summerville, come down to two big factors: Demand and inventory.
The Charleston Area is a beautiful area with so many wonderful features. It boasts historic charm, beautiful beaches, a lively culinary scene, relative low cost of living, and booming economic growth. Voted the Top City to Visit by many publications for many years, people want to visit here. And as a result, people want to LIVE here. Being located in a desirable area where people want to live and move here is keeping demand for housing higher than ever before.
Over the last several years we’ve seen an influx of people seeking lower taxes, warmer weather and an easier way of life venture from other areas of the country to find a home and settle here. Businesses such as Boeing and Volvo are expanding their production facilities, adding new jobs and contributing to the local economic growth. In addition, many employees are finding themselves still able to work from home in our post-covid world and able to cut ties with having to be within commuting distance from their place of work. This migration has further increased demand for housing making selling your house at a good price a much easier task.
There is a low inventory housing problem across the nation. Demand for houses has increased so fast, that builders can not catch up. Demand is only projected to continue to increase as more Millennials and Generation Z are entering the home buying market for the first time. As a result, the low inventory problem is not expected to improve anytime soon. Low inventory means less options for buyers which is good for those looking to sell now.
Another reason it is still a great time to sell your home is increased property values. Low housing inventory and high demand promote increased property values. This means if you are considering selling your home, you can likely sell it for much more than you purchased it.
In summary, high demand and low inventory has stabilized the Charleston Area Real Estate Market making it still a great time to sell. Do not let chatter of a declining housing market deter you from selling your home. Have we seen a slight decrease in the market since last year? Yes. Are home prices in our area still high? Absolutely. Are homes still selling fast? Definitely. There are still an abundance of buyers looking to purchase homes in this area and houses are still selling quickly at great prices depending on condition and location. If you think selling might be right for you, reach out and we will do a valuation and let you know what we think it will sell for!
