Four Reasons to List Your Charleston Home with Us Now
Handsome Properties April 22, 2022
Handsome Properties April 22, 2022
The real estate market in the Charleston area is hotter than ever, with market conditions especially favoring sellers. According to Charleston Trident Association of REALTORS® Housing Supply Overview for March 2022, “Millennials are entering the housing market at a record pace, fueling demand and driving sales prices higher amid an epic housing shortage.” If you’re considering selling your Charleston home, now is a great time to list it with Handsome Properties. Here are four reasons to list your Charleston home with us now.
According to the Charleston Trident Association of REALTORS® (CTAR), market data for March 2022 shows an average days on market of just 19 days for Charleston County, a dramatic 45 percent YOY drop. Although days on market will vary for each community, location, and individual listing, this is a key indicator of high homebuyer demand.
Several factors are contributing to high buyer demand in the Charleston area, some seasonal and some not. Summer is typically the busiest season for Charleston real estate, driving up demand even further.
One factor that is not seasonal, however, is that South Carolina has been ranked as one of the top states people move to when they relocate. Many of these new residents settle in Charleston County, the largest of the three counties that make up the Charleston metro area.
Based on data from the U.S. Census Bureau, the Charleston metro area saw a 23 percent population increase between 2010 and 2020. This translates to 33 moving to the area every day. A median age of 37.6 is one reason that homes for families are in high demand.
March 2022 data from the Charleston Trident Association of REALTORS® shows a 37.5 percent YTD drop in inventory for single-family homes and a 67 percent YTD decrease in inventory for condos. You can use our Market Reports to track current home inventory in a range of Charleston area communities.
Our Market Reports show a breakdown of real estate activity over a period of a month. Data is compared to the previous month. It’s easy to subscribe to our Market Reports. Just choose a community or region, fill out our form, and these reports will be delivered to you via your email address.
Data from the Charleston Trident Association of REALTORS® for single-family detached homes in Charleston County shows a 33.4 percent increase in the average sales price between March 2021 and March 2022 and a 20 percent increase in median sales price. CTAR data for March shows a 48.7 percent increase in the median sales price of single-family detached homes on the Isle of Palms. That equates to an March 2022 median sales price of $2,595,000.
In Lower Mount Pleasant, the median sales price rose by about 43 percent between March 2021 and March 2022. In Upper Mount Pleasant, the median sales price rose 33 percent for the same period.
Correctly pricing a home is one of the key elements in a successful home sale. A well-priced home will generate competing offers and drive up the final sale value. That’s just one aspect of the expertise a Handsome Properties agent brings to the table when we list a home. We ensure your listing gets the best exposure to reach the right buyer, whether they live in the area, out of state, or out of the country.
Our thorough knowledge of the Charleston area means that we know what homebuyers are looking for. Our selling expertise covers the entire Charleston area, including downtown Charleston, Mount Pleasant, the Isle of Palms, Sullivan’s Island, and more. When you’re ready to take the next step toward selling your home, we’re here to help. Contact us today to get started!
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