What an incredible whirlwind the Charleston real estate market has been lately. Little home inventory on the market, multiple buyers, sellers calling the shots- all of it...loved by sellers, but hated by buyers. Well I think it's finally time to let you know that...
BUYERS ARE NO LONGER GOING TO TAKE IT.
We are actually seeing a change in the market from as early as 6 weeks ago. You see, we've been in a sellers market since the onset of Covid. No surprise there. And because Covid has hit us so hard- sellers were not showing houses in the spring of 2020. So there was a lack of available homes for a large portion of 2020. Not to mention that after Covid- folks from NYC, Ohio, and California were all leaving large cities and coming to Charleston. And that- coupled with pent-up demand for the regular home buying we see in the spring- turned out to be the perfect sellers market with all of that demand.
BUT NO MORE.
If you are a seller reading this in mid-to-late 2021, and still feel this seller's market is just as strong as it has been- you are mistaken. BUYERS ARE OVER IT. They've been burned one too many times. Or they've decided not to pay 110% of sticker price. Or they are just plain tired of sellers' prices, demands, and general lack of 'meeting in the middle'. Whatever example you want to use- buyers are making other plans. So when you are thinking about selling your house, make sure you have your finger on the pulse of this market in order to make your home as attractive as possible. Because we are going to begin to see houses stay on the market a little longer this Fall.
Posted by Mike Ciucci on
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