A Sellers Housing Market in Charleston, SC Right Now?

Posted by Mike Ciucci on Monday, November 26th, 2012 at 4:56am.

Where are the Best Areas to Purchase in Charleston?

Yes, you heard it correctly- Charleston, South Carolina is currently experiencing a 'Sellers Market' in some areas of Charleston.  Where are the areas? What are the best deals?

Take a look at the illustration below. There are certain areas surrounding Charleston that are experiencing a 'sellers market'.  For those that don't know- a balanced housing market in Charleston means that there is a 6 month inventory of homes for sale.  This means that if NO new homes came on the market, it would take 6 months for the inventory of homes to sell at the current rate that which homes are selling.

For example, a 10 month supply of homes on the market would mean that it is a Buyers Market.  A 4 month supply of homes on the market would mean that it is a Sellers Market.  If there are fewer homes on the market in the Charleston real estate market, then obviously there will be some pinned-up demand which typically drives up prices.

Now we're not experiencing a Sellers Market on a whole for Charleston- we're simply seeing pockets of areas and neighborhoods that are high in demand and homes don't last long on the market.

Great, so where are these areas already?  Take a look below, and keep in mind the 'Rule of Thumb'.  Those areas colored in yellow are currently experiencing a Sellers Market.  While this may mean that the home prices are a little higher and there are more competing buyers, it would appear that these areas are of a sound investment decision.

Are you looking to purchase a home in these same areas?  Are you selling your home in these areas?  You and your real estate broker better know their market if you plan on purchasing or selling in these areas.  These Charleston real estate statistics should be used as leverage in any stringent negotiating deal.

Having trouble viewing it below? Download the .pdf HERE.

 

Charleston SC Home Absorbtion Rate 

  Mike Ciucci Realtor

Mike Ciucci specializes in the Charleston SC real estate market.  He has been a Charleston realtor for over 15 years, focusing on quality and attention to detail his clients have come to expect.

Mike Ciucci
Carolina One Real Estate

Phone: 843.608.8378
Email: mike@buyingcharlestonrealestate.com

www.BuyingCharlestonRealEstate.com

2 Responses to "A Sellers Housing Market in Charleston, SC Right Now?"

jaym wrote: Nice post and site everything in this article is informative. Very very interesting blog. I read this blog.

Posted on Sunday, December 16th, 2012 at 10:53pm.

James Schiller wrote: Very informative article! Thanks for sharing. Charleston SC is definitely a good choice if you are looking for a good place to live and work. If you are looking into buying a house in Charleston, Mount Pleasant, Daniel Island, Folly Beach, and James Island are some places to consider.

Posted on Thursday, July 11th, 2013 at 3:40am.

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