This week’s Charleston Regional Business Journal reports that residential sales in Charleston are up and the inventory is down compared to this time last year. So, is it turning into a seller’s market? It’ll be interesting watching it play out. 2013 Charleston MLS president Dave Sansome is quoted in the CRBJ as saying “Many areas of our region are squarely in seller’s market territory. That doesn’t mean that sellers can start overpricing their homes and expect them to sell, but it does mean that they have a bit more room to negotiate for the price they want than they have in recent years.”
Our business has definitely increased. Our Isle of Palms office is the #1 office in volume and sides for residential sales in the resort of Wild Dunes and on Isle of Palms and Sullivan’s Island. We are quite ahead of our competition if I may blow our own horn for a moment.
As reported by MLS from 1/1/13-3/13/13 residential sales by office for Sullivan Island, Isle of Palms, and Wild Dunes
| Dunes Properties | $10,702,132 |
| Carolina One | $6,498,000 |
| Beachside | $3,339,000 |
| Wild Dunes Real Estate | $3,223,000 |
| Carolina Elite | $3,100,000 |
The Business Journal article by Lauren Ratcliffe reports that Charleston sales are outpacing last year’s by over 18%. In February of 2013 722 homes were sold with a median price of $181,334 and Charleston hasn’t seen sales volume like that since February of 2008 when 733 homes sold. Inventory has decreased by 1000 homes in comparison to this time last year.
If you are thinking about selling, now might be the time. As us about the Dunes Difference and see what we can do for you. If you are interested in buying, you might want to get started looking. We can help you with that search here.