Market Trends for 2021

MARKET TRENDS FROM 2020 THAT WILL BE THE NORM IN 2021!

I am basing these predictions on what I see every day in this business.  As most of these new trends locked into place towards the middle of 2020, it is probable they will remain in 2021.   

LOW INVENTORY:  Inventory data shows 71% fewer homes for sale over the last 12-month period.  This is a new record low!  This means buyers need to put their best foot forward, as it is common to compete with multiple offers.  Successful buyers are pre-qualified and educated on market value.  They are teamed up with a licensed REALTOR® and ready to pounce!

PRICES ARE STILL ON THE RISE:  With low inventory and high buyer demand, prices are still on the rise making this a strong market for sellers.

INTEREST RATES ARE SUPER LOW:  With low rates, buyers are able to afford more house, a true advantage to buying in this market.

VIRTUAL SHOWINGS ARE A REAL THING:  Many homes are being purchased by buyers off of virtual videos and FaceTime calls.  For sellers, proper marketing is key in this market and although it is a good time to sell, it is not a good time to skimp on marketing.  This can make all of the difference for a quick turn-around from listing to going under contract.

IN SUMMARY:  The market is tough, and now more than ever, you will want your transaction managed by an experienced REALTOR®, who is trained to maneuver through multiple offers and works full-time.  Most importantly, you want someone who will abide by the  REALTOR® Code of Ethics, which requires protecting our client’s best interest at all times.  If I can assist, please contact                             Jackie@TheCassinaGroup.com.    

Meet Interior Designer Dara Rosenfeld!

As we are spending more time at home, I am often being asked if it is worth it to hire an interior designer.  My answer?  YES! 

For obvious reasons, investing in your home is always important!  Whether you are considering making changes to your living space, or buying a new home, teaming up with a trained professional is a great way to not only transform the way your home makes you ‘feel” but also “how you live!” 

Dara Rosenfeld has been helping her clients create functional, innovative and welcoming spaces for over twenty-five years. She provides comprehensive interior design and interior architecture services.  She will help implement your unique vision in a timeless and elegant style.   

Dara began her career at Christie’s New York where she was responsible for valuating interiors with distinguished histories. She went on to senior design positions at two AD 100 firms: Peter Marino in New York and The Wiseman Group in San Francisco. In 2007, Dara started her own firm Dara Rosenfeld Design.  Dara has designed city and vacation homes in Hawaii, France, England, Northern and Southern California, New York, Texas and now Charleston where she lives with her family and two toy fox terriers.

Feel free to check out her services and work by visiting her website at www.dararosenfelddesign.com or contact her at (415) 522-1616 or by email, dara@dararosenfelddesign.com

Market Activity Report- Charleston Trident Area

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.

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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.

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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.

2021 Color Trends from BEHR®

More than ever, homeowners are looking to change up their space with all kinds of DIY Projects!  But nothing makes your home feel more clean and new than a fresh coat of paint!  So why not check out the newest trends?  Behr Paint Company recently unveiled its BEHR® Color Trends 2021 Palette. This color palette consists of 21 versatile shades spanning from essential neutrals to lavish bolds, which enable people to create energizing yet comforting new focal points in the home. “This has been a year of unpredictability and 2020 has significantly changed our relationship with our home. When our color team began exploring a palette for the coming year, we knew it needed to be grounded in what we’ve been craving: comfort and personalization,” said Erika Woelfel, vice president of color at Behr. The BEHR® Color Trends 2021 Palette is organized into six color themes: Casual Comfort, Subtle Focus, Optimistic View, Quiet Haven, Calm Zone, and Outdoor Escape.

Click here to see the 2021 color themes!  Enjoy!

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(photo credit:  BEHR® Color Trends 2021)

Locally Owned, “Wild and Wooly” is a special place for Knitters, Quilters and Sewers!

WILD AND WOOLY

I recently started knitting, and I must admit I am OBSESSED!  Super relaxing and rewarding!  But here’s the thing… I am short on time, right?  So I invested about 7 minutes on Youtube to learn my new skill… and it worked.  For a bit.  Then I dumped some money at Michael’s on some yarn, only to realize it is scratchy and itchy.  I was stuck, not knowing hot to move ahead.  So I took the plunge and walked into Wild and Wooly.  And I loved everything about it!  Locally owned and operated by Debbie Newman, this place is SOMETHING SPECIAL!  I was welcomed with open arms!

Not only do they sell everything you need for knitting, quilting, sewing, etc, but they know their stuff!  And they share their knowledge.  After spending about 20 minutes with Debbie, I walked out having learned some really great skills, armed with some soft, yummy yarn, and I am off!  I am creating some lovely items and enjoying the process.  But the best part is that there is always more to learn.  And the Wild and Wooly Team can help, they offer classes and events for all skill levels.  It is as much of a community as it is a store and I feel really lucky to have found this quaint little shop right down the street!

Oh, don’t believe me?  Click here to meet the team and tour the store on Facebook!

Wild and Wooly is located at 1212 Chuck Dawley Blvd, Mt. Pleasant.  They are opened from 10am-3pm Mon- Sat.  Click here to visit their website. 

Mortgage Rate Update- low rates = $ saved

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This chart is helpful to see how a lower mortgage rate can equate to dollars saved.   So while inventory is low, sellers are benefiting by being able to command a higher sales price, but buyers are benefiting with historically low interest rates.  Give this some thought if you are considering the pros of selling and buying in today’s market!   And feel free to contact me if I can provide any additional information.  I’m confident I can help!

Old Village 4 br, 4.5 bath Condo! AVAILABLE FOR RENT! $3850/ month

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Lovely condo located in the Pitt Street Shopping District, 4 bedroom, 4.5 bath, with den and balcony.  Now available for rent for $4000/ month.  Please email Jackie@TheCassinaGroup.com if you have interest in learning more!

This beautiful historic post-Reconstruction era condominium masterfully renovated and a unique upscale residences, one of only 3 condos available in this building.  Features include gorgeous antique heart pine throughout, exposed brick offering architectural interest, and lovely wood trim. The eat-in kitchen is open to the living room and features a large island, perfect for casual meals and gathering with friends and family.  The kitchen also features Viking professional appliances that any chef would enjoy along with granite counters & window seating. The floor plan was designed to fit any lifestyle. The master suite is located downstairs, along with a 2nd bedroom with ensuite bath, study/office, powder room and washer/dryer. Upstairs, you will find 2 additional graciously sized bedrooms with ensuite baths and beautiful vistas. Secured Common Hallway, Pre-wired Sound System, Viking Appliances, Rennai Hot Water Heater, Porch overlooking Church Street, Views of Pitt Street and 2 Off Street Parking spaces as well as a small outdoor storage area.  This is a second and third floor condo, so no one lives above you.

218 Venning is one of the few historic commercial buildings remaining in Mount Pleasant. Originally used as a live/work space, Lunden’s Store, was a grocery, built and owned by a German family back in the mid to late 1800’s. The building was converted into 3 condominiums in 2008, each with its own design, floor plan and personality.

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Again, if you have interest, please email Jackie@TheCassinaGroup.com, and thanks!

Furnished Rental Available in The Gadsden!

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AVAILABLE FOR $4500/ MONTH.  $1,000 OFF 1ST MONTH’S RENT! The 2 bedroom, 2 bath condo is located on the 5th floor of The Gadsden Building, with fantastic views and awesome amenities such as a roof top pool and grilling area!

Condo includes high-end interior finishes such as hardwood floors, quartz countertops and stainless-steel appliances. Utilities: Included; except for electric service, Security Deposit: 1 Month’s Rent, 12+ Month Lease Term, Professionally Managed- Handsome Homes, Pets Negotiable- $500 Pet Fee (Non-Refundable), Furnished, Parking: One (1) Off Street Parking Spot and Prime Location. SHOWINGS: Serious Inquiries Only. Showings are available Monday-Friday 9:00am-5:00pm with 24-hour notice. Price and Terms are firm.  Email me for more information, Jackie@TheCassinaGroup.com.

530 Speights St- Old Village

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Charming Old Village cottage on a rare, half acre lot! This light-filled home has been fully renovated with a coastal feel, and features ample outdoor space for entertainment. You will love embracing the Lowcountry lifestyle and all that makes this fabulous neighborhood so special! Home features include: *Tabby Shell circular driveway with adorable wooden picket fence and brick pillars *Full front porch flanked with lush landscaping *Open living/ kitchen with tons of natural light and beautiful heart pine flooring *Granite island and counter tops, with white and glass-front cabinetry, subway tile, and stainless appliances *Gas range with pot filler *Separate family room with wet bar and access to the fantastic covered outdoor entertainment area  *Large Laundry room *Custom mahogany doors, high-impact windows, new roof *Detached 2-car garage *Fully fenced back yard *No flood insurance required

Available for $1,199,000.  Contact me for more information, or visit www.SearchOldVillage.com

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Mt. Pleasant Real Estate Market Review

The stats for the month of March look pretty impressive when comparing 2020 to 2019.

According to the Charleston Trident Association Of REALTORS, home sales in Lower Mt. Pleasant (South of the IOP Connector) held steady in March of 2020 with 70 single family homes sold vs 73 homes sold in March of 2019.  The median sales price was $592,000, up about 10% from 2019.  Home sales took slightly longer, with the days on the market averaging 75 days in 2020, vs. 59 days in 2019.

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And home sales in Upper Mt. Pleasant looked even stronger!  In March of 2020, there were 100 single family homes sold vs 79 homes sold in March of 2019.  The median sales price was $545,000, up about 7% from 2019.  Days on the market averaged 69 days in 2020, vs. 75 days in 2019.

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People are still buying and inventory is still low.  If you would like to explore the real estate market, please let me know.  I am happy to help!