Charleston Real Estate Defies The Experts!

May 8, 2020 (for updated report click…Charleston Mid Year Market Report)

Yes, that’s correct, the Charleston Real Estate Market Defies The Experts! This week and last week real estate sales in the Charleston area posted spectacular weeks of sales! This completely defies the experts that were predicting doom and gloom for our market. Ranking as a couple of the best weeks in Charleston Real Estate History, for some this goes against all conventional wisdom! Imagine that, all while the world was sheltering in place, we are posting all time numbers. In fact many sales are seeing quick sales and multiple offers from competing buyers.

With that said I applaud our local leaders for having the foresight to declare real estate activity as an essential service. Clearly they know that real estate activity historically has been a leading indicator for economic activity. Just think of all of the businesses and folks those business employee that are involved in a real estate sale? From Sign Companies and Home Inspectors to Attorney’s, Termite Company’s, Hardware Stores, Insurance Agents and many more benefit from the ripple effect of a sale of real estate.

Key Numbers From Last Week.

As Charleston Real Estate Defies The Experts, here are the key numbers. Last week according to the Charleston Trident Association of Realtors Multiple Listing Service:

442 Residential Properties Went Under Contract
342 A Total Of Single Family Homes
21 Sales On James Island
13 Sales On Johns Island
34 Sales In West Ashley
21 Homes Sold In North Charleston
38 Sales in Mt Pleasant
79 Properties Sold In The Summerville/Ladson Area
93 Sold In The Hanahan, Goose Creek and Moncks Corner Areas
6 Homes Sold On Seabrook Island
9 Homes Sold On Daniel Island
5 Homes Sold On The Isle of Palms
And A Total 91 Townhomes And Condos Sold In All Charleston Area Markets

SEARCH ALL HOMES FOR SALE

Will Charleston Real Estate Continue To Defy The Experts!

Only time will tell. We still have a long way to go however we are off to a great start! So hopefully all of the stimulus being pumped into the economy and low interest rates will make a difference. It all hinges on whether or not the folks on the edge will be able to make it through.

What We Will Be Looking For?

Buyer Demand, will it remain high?
The Default Rate, will it stay low? Or will people short sale their homes of lose them to foreclosure?
Home Inventory, will the inventory of homes for sale rise or fall?
Transplants From The North, will more people from the larger more effected cities by the pandemic head to South Carolina?

SEARCH ALL HOMES FOR SALE

As Charleston Real Estate Continues To Defy The Experts, What Do We Need Now?

This may surprise many people, we need more home sellers putting their homes on the market? The numbers don’t lie. Demand is high and supply is low it’s simple economics! We also have strategies in place to help keep our clients safe in the current environment. So if you or any one you know is thinking about selling a home let’s talk. Let us show you how we can help you safely sell your home in this market and get top results!

Inventory Has Dropped Significantly

Are you thinking about buying a home or selling your home? Call Bill Byrd, Charleston Real Estate Expert at 843-972-7670 or fill out the form below.

The Author…

Bill Byrd is a Husband, Father, Realtor, Educator, Musician and Athlete. A licensed Realtor since 1986 who loves helping his clients grow their personal wealth through real estate! Having helped hundred’s of families and individuals during his career you can feel comfortable that Bill’s and his Team’s experience and expertise are unparalleled in our market. Plus, Bill’s a great guy and one heck of a guitar player! More About Bill