Charleston, SC Real Estate Market Update
January 2016 Activity Report
Friends and clients,
The weather is great here in Charleston today, 75 degrees and sunny! Since you previously indicated an interest in real estate in the Charleston area, I wanted to take a moment to bring you up-to-speed on how the year is starting out.
January was a very strong month in two regards: 1) Buyer demand was much stronger than typical for the month; and 2) The inventory level of homes has dropped significantly since this same time last year, meaning that prices will continue to rise and home buyers will have a more difficult time finding the home that suits them.
Buyers that have made a decision to buy either a primary or secondary home in the Charleston area, should be actively looking for that new property right now.
Here is an excerpt from the Charleston Trident Realtors Association:
"CHARLESTON, SC— (February 10, 2016) 963 homes sold in January in the region at a median price of $217,000 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR).
In January 2015, 897 homes sold at a median price of $210,000. This data reflects a 7% increase in sales volume and 3% growth in median price, compared to last January.
Inventory has declined by 21% over the last 12-month period, with 5,017 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) as of February 9."
What this means for you: Prices will continue to climb, which means the purchasing power that you have will continue to decline.
As a buyer, you will have the maximum purchasing leverage for yourself at the present time when you consider the combination of current interest rates, and the expected trend for continued increases in home prices. If nothing else you should be getting pre-approved by a mortgage lender and actively identifying properties of interest. If you need local lender referrals, please let me know as I have some great lenders identified that have done excellent work on behalf of previous clients.
If you need to update your search parameters, or just get an update on your search results, you can search all the properties in the Charleston area by clicking right here: CHARLESTON HOMES
As for Sellers, it remains a strong sellers market, and assuming the economy remains stable, I don't see this dynamic changing in the near-future.
Your home will sell for its maximum price in 2016. The upcoming spring selling season is going to be hot.
Not many homes are for sale in Charleston – inventory is very tight.
As you know, home prices in many Charleston area neighborhoods went up considerably in 2015 and there’s a strong chance your home is one of them.
I recommend you check the current market value of your home.
I pay to get access to all the local MLS data and you can get it for free on my website.
CLICK HERE >>> Get an INSTANT PRICE UPDATE on your home
(You get access to real local MLS data for determining current value - it’s free for you)
Enter your property address and you’ll get a recommended selling price range for your home based on the recent sales of your neighbors.
You may be very surprised at your price – it’s likely to have gone up!
Now this website tool is just an estimate. However, if you’re serious about selling your home, I can give you a very accurate asking price.
Call me at 
843.779.6054 or reply to this email with details of your home.
Tell me about your kitchen, bathrooms, home improvements, and all the things you love.
I know what a buyer will pay for it today.
And of course if you’re not interested in selling your home, rest easy knowing we are in a healthy real estate market with appreciating prices.
If I can ever be of service to you buying or selling a home, I’m here.
Have a wonderful week.
Your local Charleston area Realtor,
Vito Boscaino
Mobile: 843.779.6054 / 614.571.9054
Email: vitoboscaino@gmail.com
http://www.HomesAndCondosCharleston.com