HOT is a the way we used to describe many real estate markets across the United States. Of course, that term quickly vanished after the downturn in the economy 8 years ago.
The Charleston real estate market has recently been described as HOT again. When looking at the sales activity, there may be some truth to it. We are seeing positive sales reports in Mount Pleasant, IOP, Downtown as well as West Ashley, the Islands and North Charleston and Summerville. As a matter of fact, it would be hard to find a location in our market that is not doing well.
Here are some interesting facts that indicate the market is moving in a positive directions.
1) Average Days on the market for single family homes is only 74 days where it was 91 days during the same period of time last year.
2) Averade Days on the market for condos is down approximately 29%.
3) Single Family inventory is down 7% while condo inventory is down 12%.
Anytime you see inventory shrinking and days on the market decreasing then that is a good sign that the market is very strong.
There are many reasons that Charleston Real Estate is popular.
- Job Relocation - Many corporate jobs being created.
- The area has character - People start off as visitors and decide to make our area their permanent home.
- Quality Schools - From private to public, the area offers a lot of choices.
As a committed real estate professional, we love to help those looking to buy or sell real estate in Charleston and the surrounding areas. If you are looking to buy in the area then please use our search tools at www.c21charlestonrealestate.com.
Century 21 Expert Advisors -Focusing on the entire Charleston real estate market
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