July 2020:
Strong buyer demand and low inventory equate to solid growth when compared to 2018. And with such low inventory, buyer’s are experiencing a competitive market.
According to the Charleston Trident Association of Realtors: New Listings were up 17.6 percent to 2,562. Pending Sales increased 49.4 percent to 2,596. Inventory shrank 38.4 percent to 3,890 units.Prices moved higher as Median Sales Price was up 9.5 percent to $305,000. Days on Market decreased 1.9 percent to 51 days. Months Supply of Inventory was down 45.2 percent to 2.3 months, indicating that demand increased relative to supply.
Closed Sales were up (year to date) as of June 2020 close to 5% since 2018.
The average Days On Market is up in July of 2020 vs 2018, but not by much. The average increased from 48 to 56, which is still relatively low.
The key to selling at the highest price in the quickest time frame comes down to knowledge and experience. If you are considering selling and would like a review of the market specific to your home, please let me know how I can help!
Please note: Current as of August 7, 2020. All data from the Charleston Trident Multiple Listing Service. Report © 2020 ShowingTime. Data deemed reliable but not guaranteed. Consult your agent for market specifics.
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