Advantages to Selling Your Charleston Area Home This Fall

Whenever a home lingers on the market, the likeliest two culprits are either a price that’s too high to be competitive, or a home that’s not in top showing condition. If you were unsuccessful in selling your home in the Charleston area this summer, it would be particularly disappointing given the strength of the selling season. The NAR reports that in July alone, sales of existing homes jumped 17.2% compared with July 2012. At the same time, some sellers reported the reappearance of multiple offers.

The good news? Selling your home in the fall or winter is not as difficult as most people commonly assume. In fact, selling your Charleston area home during the coming months can offer certain benefits. In what many people assume is an “off season,” fewer homes are on the market — less competition. At the same time, buyers in these seasons tend to be more serious about buying.

Pricing is almost always the overriding issue. Home values haven’t fully recovered from the peaks registered before the residential housing crash. Nationally, median prices are on the rise…but even so, they are still 7.3% below the high water marks reached in 2006. If you bought or appraised your home in 2004 – 2006, you might have to set your asking price slightly lower than the number you heard then. Selling your home with dispatch might depend on it.

Showing condition matters, too. Selling a home is different from living in it. To be competitive with the other Charleston area homes for sale, the property should be spotless for every showing. Removing excess furniture, art, and personal items such as family photos or trophies is important for creating a home that appears spacious and airy. It also lets buyers more easily imagine their own families living in your home.

Don’t let the lack of a summer sale discourage you. When you set your asking price correctly and provide an immaculate showing environment, you’ll give yourself a strong chance of selling your home in Charleston during the cooler weather months.

Interested in selling your Charleston area home? Visit: www.JeffCookRealEstate.com

Charleston Market Report - September

        Strong demand for a limited supply of homes for sale has seemingly outweighed higher mortgage rates, at least for the time being. The idea that mortgage rates may rise further is likely spurring some of this demand. The dream of homeownership is very much intact, but buyers should be prepared with competitive offers, since every measure of market health is pointing upwards.

According to figures, new listings in the Charleston region increased 16.4 percent to 1,564. Pending sales were up 36.3 percent to 1,287. Inventory levels shrank 12.4 percent to 5,841 units and the number of days houses stay on the market in the Charleston area was down 18.7 percent to 72 days.

Prices got a lift. The Median Sales Price increased 9.6 percent to $219,000. Absorption rates improved as Months Supply of Inventory was down 29.5 percent to 5.4 months.

The number of the properties in the Charleston area on which contracts have been accepted year to date reached 8,611 (+23.2%%)  which is a 12.8% increase from last year’s 10.4% (6,989).  Average sales price for year to date of all closed sales, not accounting for seller concessions, increased to +7.6% ($283,933) compared to last year 5% ($263,828).

         What does all of this information mean for buyers and sellers? It means that now is a great time to sell or purchase a home in the Charleston area!  Eyes continue to fixate on the Federal Reserve and its policy inclinations related to stimulus tapering. Labor market growth is positive but still tepid. Things like gas prices, stock market shifts and global economics have a tendency to sway consumer sentiment. At the moment, U.S. housing continues to be a bright spot.

If you are interested in selling your Charleston area home visit www.jeffcookrealestate.com

If you are interested in buying a Charleston area home visit www.discovercharlestonareahomes.com

Your Charleston Market Report

        It won't be long before the housing recovery is simply referred to as housing. Institutional and cash buyers have effectively priced themselves out of the market. During the economic downturn, much inventory was purchased by these groups and now that housing prices are rising, there's less incentive for these kinds of buyers, yet affordability for
consumers remains attractive.

        According to figures, the number of houses for sale in the Charleston region increased 32.6 percent and inventory levels shrank 14.0 percent, while the average sales price of homes in the Charleston area increase by 2.3 percent to $209,662. The number of days houses stay on the market in the Charleston area decreased by 18.2% to 76 days.

The number of the properties in the Charleston area on which contracts have been accepted year to date reached 7,344 ( 23.1%)  which is a 12.5% increase from last year’s 10.6% (5,964).  Average sales price for year to date of all closed sales, not accounting for seller concessions, increased to 6.9% ($281,459) compared to last year 5% ($263,258).

         What does all of this information mean for buyers and sellers? It means that now is a great time to sell or purchase a home in the Charleston area! Although mortgage rates are slightly increasing, they are still low by historic standards; and while the unemployment rate remains a factor to watch, the housing recovery continues to plug along, helping to improve the economy with flourishing activity in sales and prices.

If you are interested in selling your Charleston area home visit www.jeffcookrealestate.com
If you are interested in buying a Charleston area home visit www.discovercharlestonareahomes.com

Living the life in Charleston, SC

       The Charleston area is one of the most beautiful and historical cities in the United States.  With an area population of approximately 650,000, Charleston is growing rapidly. It is a popular place to live today due to a strong local economy, wonderful weather and the number of visitors who grace the lovely city. Charleston area is known for its hospitality - serving an estimated 5 million visitors every year. Lastly we have retirees who fall in love with the area and decide to make Charleston their new home.

     Voted the number one city in the world by Conde Nast Traveler and always a favorite with readers in many publications such as Travel Leisure, Southern Living and many more, Charleston is consistently a winner in many awards and been named as America’s Friendliest City, Best Southern City, Most Livable City, Most Mannerly City and more.

     The Charleston has always been a center for culture, arts and achievement for a long time. So, if you enjoy history or appreciate culture, fine arts ,festivals  and events then this is the place to be. You will also love the great weather here wherein you and your family could enjoy year round fishing, golfing, boating, and the beach. There’s something for everyone and always something to do in Charleston so it will definitely keep your family active. With its historic charm  and great coastal lifestyle, Charleston, SC is one of the top cities to live in the nation.

Charleston’s healthy economy and excellent job growth is also one of the many reasons that people have chosen to relocate to Charleston. So if you’re looking for Charleston real estate, houses for sale, beachfront condominiums, or planning on retiring in South Carolina then visit our website www.discovercharlestonareahomes.com. This site features many kinds of residential real estate from waterfront properties, new homes, historic downtown homes and condominiums to second homes and investment real estate.

We also specialize in selling homes in the Charleston area. If you are interested in selling your Charleston area home visist- www.jeffcookrealestate.com.

Charleston home sales up 23% year over year

Home sales in Charleston, South Carolina are up from 2012, which means great news to buyers and sellers alike! Charleston-area home sales were up 23% in August with a 9% increase in median home prices compared to the year prior, the Charleston Trident Association of Realtors reported this week.

In August of this year, 1,278 homes were sold in the region at a median price of $217,462, compared to 1,034 homes sold at a median price of $199,414 this time in 2012.

 August 2012 figures showed 7,030 closings for the calendar year at a median price of $190,907. While August of this year’s data shows 8,706 homes have sold in the Charleston region year-to-date at a median price of $205,417.

The average number of days a home stays on the market has also declined and homes are selling nearly a month faster than they were a year ago.

Berkeley County
In August, 257 homes sold at a median price of $180,000. The most active area in the county was the area bordered by Jedburg Road, U.S. Highway 17A and College Park, with 66 sales at a median price of $175,045.

Charleston County
Charleston County sales and median price increased in August, with 731 sales at a median price of $270,000. Homes in the county are spending an average of 77 days on market, the lowest average recorded this year. Outside of Mount Pleasant, where 250 homes sold at a median price of $381,125, the county’s most active area was James Island, with 83 sales at a median price of $245,000.

Dorchester County
In August, 253 homes sold at a median price of $165,000. The most active area of the county was Summerville and Ridgeville, where 101 homes sold at a median price of $184,990.

“Looking at the year-to-date figures, we are positioned to finish 2013 with significant gains in sales volume and healthy, steady growth in prices,” said 2013 Multiple Listing Service President Dave Sansom in a news release. “Thus far, we’ve made more progress than we anticipated in 2013 and this level of growth is sustainable for our market.”

Inventory has held steady throughout the year, with 5,702 homes listed as “active” for sale in the MLS database. This figure represents approximately five months of inventory available in the region.



As we expected, the minimal increases in mortgage rates have not soured the demand for residential real estate in Charleston” said 2013 CTAR President Owen Tyler in a news release. “Buyer activity and interest is still very strong—the mix of cash buyers/investors and traditional buyers who recognize the long-term value of Charleston-area real estate have helped keep the pace of sales high and our prices strong and stable.”

Interested in selling your Charleston Area home? Visit: www.JeffCookRealEstate.com

Interested in buying a Charleston Area home? Visit: www.discovercharlestonareahomes.com