March is the beginning of the Spring market and in coastal South Carolina, there was a lot of change!
According to the Coastal Carolina Multiple Listing Service, average sales price increased by more than $13,000 from $370,366 to $383,428.
Almost every metric went up: the number of homes that went under contract increased by 6.4 % and the number of closings went up in March by 14.3%.
Interestingly, the number of new listings being added to the market went up by 14.5% while overall supply dipped slightly. That means that despite more homes being added for sale, the overall net number of properties for sale didn’t keep up with consumer demand and went down.
What does this mean for sellers:
It means if your home is on the market, hang in there. Listen to your trusted real estate advisor and react to what the market is telling you. Properties are selling and you’re still in the drivers seat in a season of lower than normal inventory.
What does this mean for buyers? Prices are going up and the market may soon be more competitive. Please make the right decision for you and your family but if you’re waiting for prices to come down, the data does not support waiting.
Adrianne and I would love to learn more about your goals so we can better understand how to best help you. Please don’t hesitate to contact us if we can assist you with a real estate need.
Comments (0)
Be the first to comment on this post!
Post a Comment