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.