There is excitement in the air as the real estate market seems to be heading in a positive direction due to positive numbers in the sale of existing homes, pending sales and new construction. The media is touting these numbers and sometimes eluded that the bottom of the market is here. While that is great news, it should be tempered with real data. Things are definitely getting better but there is still a long road ahead of us. We definitely saw this trend continue in September. While new construction sales were up 11% in June—when you consider actual units, this was the worst June since 1982 (Steve Harney). Historically June is the best month of the year in this category. We aren't trying to play a negative role, but we do want to be realist about the situation. While there has been a lot of hard work in the last twelve months and its starting to pay off, the only way to keep momentum going is to price it right.
Activity is stirring as expected but inventory levels have been maintained—and we still need to reduce them. There are 2516 active listing on the market in the City of Charleston. There were 371 new listings in August. There were 146 sold properties (down from 193 the previous month) with an average sold price of $296,408 (up from last month at $284,080). Sold properties were on the market for an average of 124 days and received 94% of list price. Compared to August 2008: There were 439 new SFR listings and 157 sold properties with an average price of $383,917. Average days on market were 118 days with a 95% list to sale ratio.
Sellers that are successful are getting serious on price and offering major incentives such as closing costs and interest rate buy downs. Even more importantly, sellers are preparing their home to compete by improving upgrades and staging the property. We offer a home staging consultation with a professional stager when you list your home with the CRE Team. With average showings at 3-4 per month, only the best looking AND best priced homes will show. 2009 will present some fantastic opportunities for buyers and investors with pre-2005 prices and low interest rates. To find out specific market conditions for your home or neighborhood, contact the CRE Team for a FREE no obligation analysis. Or to find out if you qualify to make a home purchase, contact us for a list of lenders that are qualified to help you with VA, FHA, state housing and conventional loans. Hurry to take advantage of the first time homebuyer credit of $8000 if you have never owned a home or haven't owned one in more than 3 years. Visit www.CharlestonRelocationExperts.com to search for your new home.
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ZIP Codes: 29445, 29464, 29407, 29405, 29406, 29483, 29485, 29412, 29401, 29403, 29420, 29418 Approximate Location Boundaries: Charleston Metro Area serving the communities of Dorchester County, Berkeley County, Charleston County
Location Characteristics: What a fantastic place to call home! Charleston combines history with beauty and charm. It's no wonder that we were rated among the TOP 10 places to live. There are opportunities for shopping, dining, recreation (including golf and beaches), the arts and more. Charleston, SC truly has it ALL! We are known for our hospitality. Come and visit and you'll understand why.
About Charleston Relocation Experts TEAM:
The Charleston Relocation Experts Team offers unparalleled real estate services to buyers and sellers looking to achieve home ownership in the Charleston Metro Area serving the communities of Dorchester County, Berkeley County, Charleston County, Mount Pleasant, Charleston, North Charleston, Summerville, James Island, West Ashley, and surrounding areas.
Margaret, Laura and Michele have combined their passion for helping people with her sharp insight into real estate to help others achieve their American Dream through Charleston SC real estate.
The CRE Team is always looking for new and better way to serve clients. They do this through continual education and maintain several top national designations to prove their commitment to the industry. If you're PCSing to Charleston Air Force Base, the Naval Weapons Station or the Coast Guard base, contact the CRE team for off-base housing assistance and information on the local area. If you're leaving the area, contact the CRE Team about their 195 point marketing plan to get your home sold. If would like to purchase a home at your next assignment, we will also help you locate a reputable agent at your destination through our extended network of preferred realtors. Our motto is "Committed to You and Your Dreams!" Call now to get started with yours. Visit www.CharlestonRelocationExperts.com for more information.
"Occasionally, someone experiences a stress-free home sale by accident - We're here to make it happen on purpose." -The CRE Team
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
