Chill - It' is ok to sell in the Winter time !
Plenty of reasons to list or buy a home during the winter season.
1. High demand / low inventory
It is indeed tough to find the right home right now as inventory in the Charleston area is very low at certain price points. Homes above 500K, however, have not sold as fast as expected and so there are anxious sellers out there and a buyer could get a “good deal”!
2. Sellers holding back - meaning less competition to get your home sold
The home inventory is well under the 6-month supply in many areas around Charleston.
Be certain though that when Spring comes around, a lot of homes come on the market and competition is back. FYI: people used to stay just about 6 - 7 years in their home but that has changed now to about 10 to 11 years.
3. The home buying process - quicker and easier now
It is important in today's competitive market that a buyer is pre-approved for mortgage financing. This gives the buyer an advantage when competing to purchase a home. On average it takes about 45 days from purchase to closing.
4. Upsizing ?! Downsizing ?!
Either way and depending what your budget is, there are “bargains” out there especially for a buyer who are looking for a luxury home. Those have sold a lot slower than homes under 400K in the Greater Charleston area. The market is highly competitive and has very low inventory for homes well under 400K. When looking at past home values and the trend in 2018, I predict
That homes prices will go up by about 4.5% over the next year. So if you are a buyer, homes will become more expensive and waiting any longer, might cost you a lot of extra money. Maybe it is wise to buy now and enjoy the appreciation over time!
I hope these tips triggered your interest and I invite you to take a look at some homes, just to visit and see what is out there at your price point. And of course, if you are sitting on the edge to sell, I will come to your home for a value evaluation. I can be reached at firstname.lastname@example.org or www.DefinitelyCharleston.com