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| North Charleston, SC Real Estate Market Statistics - December 2009 |
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New Listings |
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Total |
95 |
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Average List Price |
$146,614 |
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Median List Price |
$129,500 |
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Sold Listings |
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Days on Market (DOM) |
74 |
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Total |
68 |
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Average List Price |
$145,816 |
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Average Sold Price |
$141,244 |
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Median Sold Price |
$138,650 |
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% Selling Price/Listing Price |
97% |
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Current Active Listings as of Feb. 15, 2010 |
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Days on Market (DOM) |
173 |
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Total |
766 |
Summary:
The real estate market in the North Charleston, SC is definitely a Buyer's Market for first time home buyers, for every listing sold in the month of December there was more than 1 new listing added.
The final selling price is at 97% of the listing price, which means home prices are coming more inline with buyer expectations.
Based on the number of homes sold in December and the current active listings, there is over 11 months of inventory.
Note: A well priced home will sell faster and closer to the listing price.
Buying Tip:
From the Home Buyer’s perspective, there are 4 Big Reasons Why you should Buy in the next 3 months:
1.) Low Interest Rates
2.) First Time Home Buyer Tax Credit – FREE $$$$$
3.) Low Home Prices
4.) Lots of Home For Sale
In the next 3 months, the low interest rates will start rise due to the government discontinuing their mortgage buying program and deadline eligibility for the First Time Home Buyer Tax Credit will run out at the end of April.
By not taking advantage of the low interest rates and the First Time Home Buyer Tax Credit, you are literally missing out on thousands of dollars.
Selling TIP:
From the Home Seller’s Perspective, here are the 3 Big Reasons Why you should try to Sell in the next 3 months:
1.) Serious Home Buyers are going to Buy Now
2.) Inventory of Homes on the market is expected to grow (i.e. spring market & Foreclosures)
3.) Home Prices may continue to trend downward
Many active home buyers, if they are serious will take advantage of the low interest rates and the First Time Home Buyer Tax Credit.
In my opinion, those home buyers who were not very serious may decide not to buy due to higher interest rates and the eligibility for the First Time Home Buyer Tax Credit runs out.
By waiting to sell later this year and with the possibility of home prices going lower, you potentially could stay on the market much longer and sell for a lower price than right now.
Charleston, Goose Creek, & Hanahan Real Estate For Sale
Matt Naumann – Charleston & Goose Creek, SC Real Estate Agent & Entrepreneur
"Taking Real Estate Home Buying, Investing and Selling to the Next Level" is my personal goal. I specialize in using creative strategies to help my clients buy, invest, or sell real estate in the Charleston & Goose Creek, SC Real Estate Market. My motto is “There is always a way!” Google or Call me (843) 818-9898 and let’s discuss how I can help you in save $1,000s when you buy, invest, or sell real estate.
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