Published February 14, 2014
LOWER INVENTORY AND HIGHER PRICES AS WE ENTER THE 2014 SPRING MARKET...
The Spring season is just around the corner as we enter year 3 of the real estate recovery for Charleston & Mount Pleasant.
The housing market can be described as leaning slightly in the seller’s favor with 3-6 months of inventory currently on the market. Prices are up an average 7-12% in 2013 depending on location.
Buyers discovered that brisk real estate sales were happening in early to mid-January and certain homes & price categories showed big demand. A house with an owner’s bedroom on the first floor under $450K in Mount Pleasant is a tough commodity to find at present. This type of property is going under contract within 1-2 weeks of being up for sale.
Many buyers are opting to build in new developments like Carolina Park in North Mt Pleasant even with a 6-8 month build out date.