Pie-ing and Selling in the Charleston Marketplace

Our annual free pie giveaway is right around the corner, and if you have a house that you need to sell, now is the time to list it.

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions. 

Today, I wanted to discuss our annual pie giveaway and give you a quick market update.
 
For years, our team has been giving away pies to all of our fans. It’s that time of year again, and we already have people calling us to RSVP for their pie. Because we’re so grateful to our wonderful community for supporting our business, giving you a pie is the least we can do.
 
To RSVP, please call us at (843) 972-3833 by the November 17th deadline. You can then pick up your pie at my office at 496 Bramson Court, Suite 200 in Mount Pleasant. The dates available for pickup are Nov. 21st from 9 a.m. to 3 p.m. and Nov. 22nd from 1 p.m. to 5 p.m.
 

There aren’t many buyers out there, but there are even fewer sellers.

 
Now, what’s happening in the Charleston real estate market? A lot of sellers are taking their houses off the market because they presume that there aren’t as many buyers out there. That is true; however, in midsummer, housing inventory hovered around 4.2 months, and now it’s at 3.9 months. That means you currently have better odds of selling your home now than you did a few months ago.
 
How? There are fewer buyers, but there are also even fewer sellers. That means less competition for you to deal with.
 
If you have any questions about buying or selling a home, please feel free to give me a call or shoot me an email for a free consultation or a free home evaluation report. I look forward to helping you!

What Do Recent Charleston Market Trends Mean for You?

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

It's time again for another Charleston real estate market update! What trends have we seen lately and where is our market heading?

Right now, we've already surpassed the amount of homes sold last year, and we plan on clearing 15,000 closed homes! This is the busiest year we've had in 12 years and the third busiest year we've EVER had.

October was a bit slower than September, but that's to be expected. This typical of our market, as October is usually the cool down period after the hot summer months. Many markets in the area have seen median sales prices jump as high as 10%, but most markets are beginning to stabilize, which is great news for our market.

Rates are still fantastically low, as they're floating around 4.2%. This makes now a fantastic time to lock in a low rate on a new home if you're looking to buy! If you're looking to sell, now is a great time as we've seen a dip in inventory and the buyers who are out looking at this time are highly qualified and serious about purchasing soon. Many sellers are getting extraordinary values for their homes, but much of that is dependent on the condition and location.

If you would like a more detailed look at the Charleston market, or if you need real estate assistance of any kind, please don't hesitate to reach out to us. We would love to hear from you!

Are Charleston Tri-County Home Values on the Rise?

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions. 

It's time once again for a brief update on where the Charleston Tri-County market is heading and what it means for you!

We've seen a huge improvement in the market when comparing January-July 2014 to the same time period this year. Right now, the amount of transactions is up 17%, while the amount of transaction volume is up 23%. The great news is that, while there are a lot more sales this year, there has also been a spike in listings, as we've seen 11% more new listings this year in comparison to last year.

As the summer continues, more and more sellers are gaining equity in their homes and they are able to sell them for what they are actually worth. The great thing is we'll continue to see a lot of listings come on the market throughout the year before tapering off around November. Additionally, we've seen a modest appreciation of home values this year, around 5%, which is indicative of a stable, healthy market.

If you're a seller, it's still a great time to put your home on the market, as inventory is very limited, so homes are selling quickly and for about 97% of the asking price on average. If you're buying, working with a real estate professional will give you the best shot at locking in the home of your dreams in this competitive market.

If you have any questions, or if you need real estate assistance of any kind, don't hesitate to reach out to us. We're always available to be your Charleston Tri-County real estate resource.

Where Is the Charleston Market Heading and What Does It Mean for You?

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions. 

As the spring market kicks into full swing, we're coming off the best first quarter since 2005! Sales are on fire, inventory is extremely low, and homes are selling a lot faster than what has been typical over the last two or three years. 

Because inventory is so low, the Charleston market is very favorable to sellers. If you're a buyer in today's market, you need to be ready to act quickly on a home that you think is desirable, as there will likely be other people who are interested in the home as well. The crazy thing about our inventory levels is that they are about as high as they are going to be for the rest of the year. 

Over the past year we've seen an increase in home prices, from a median home price of $215,000 in 2014 to $221,000 this year. Interest rates remain at historic lows, hovering between 3.5% and 4.5%. The Fed has said they plan on increasing interest rates, which will decrease your purchasing power substantially. Rising rates will slow down the buyers who are out purchasing because homes won't be quite as affordable.

Now's the time to get the most out of the Charleston market. Low rates are great for buyers despite a crowded market, and now's the time for sellers to get top dollar, as inventory is incredibly low. If you would like to discuss your options, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to help you out!

What Can You Expect from the Charleston Market in 2015?

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

It's hard to believe, but the end of the year is upon us! With 2015 right around the corner, there's no better time to take a look back at what we saw in the Charleston real estate market in 2014.

It's been a fantastic year for values in the Charleston area, as the median home price is up 9% from this time last year. The average days on market has been consistent over the last 12 months, hovering around 79 days. While that's pretty low, it's not quite as low as my listings' average market time, which sits at only 32 days. 

Currently, interest rates are at 4% in Charleston. At the housing peak in 2007, the median sales price reached a height of $207,000 before the crash. In February of this year we actually passed that number, and the median sales price now sits at $217,000. Despite the highs and lows we've seen in the last decade, home prices have trended to where they were expected to, according to historic price line data. 

The most recent housing affordability indicates that Charleston is still a very affordable place to own a home. This rating doesn't take into account our ridiculously cheap property taxes, which makes living here even more affordable than the report indicates. 

Looking ahead to 2015, we expect our inventory to remain low throughout the year and listings to see an appreciation around 5% to 7%. Interest rates are expected to rise to 5%. Even though a 1% increase doesn't sound like a lot, that rise will actually decrease your buying power significantly. In other words, for the same monthly payment, you can only afford a home that is 10% less. This is definitely something to keep an eye on as new construction projects come onto the scene in the new year, as they will have both positive and negative effects on home values in the area.

Please stay tuned for our next video, as we'll talk about raising money for foster children around the Charleston area. If you have any questions about market conditions in your specific area, or would like real estate assistance of any kind, don't hesitate to give me a call or shoot me an email. I would love to give you a hand!

Why is Our Market so Healthy Right Now?

 There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 972-3833 for a FREE home buying or selling consultation to answer any of your real estate questions.

Why is Our Market so Healthy Right Now?

Today, we are excited to talk to you about the current market conditions in Charleston. The market has been really health so far this year. These statistics help to illustrate our point:

• In 2014, we saw sales increase 13.7% from the same time frame in 2013
• There are currently 5,905 homes on the market
• The median sales price in Charleston is $26,000 higher than it was at this point in 2013.

The lower inventory out there right now means that there is less competition to get your home sold. If you have been thinking about listing your home in the spring, don't wait until then. A lot of times your home looks its best in winter and the low interest rates right now will save you a lot of money in the future if you lock them in now. 

If you have any questions about the real estate market, please feel free to give us a call or send us an email. We want to be you real estate expert and would love to answer any questions you may have.

Charleston Real Estate Market Update for Summer 2014

 There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 795-7950 for a FREE home buying or selling consultation to answer any of your real estate questions.

Charleston Real Estate Market Update for Summer 2014

Welcome back to your Charleston market update for Summer of 2014. You may have heard that Charleston's real estate market is picking up and getting hot, so it's time to sell. Well, you've heard correctly.We have noticed a 2.3% increase in home sales recently, which is great news for sellers. Over the past month, we have seen over 2,000 new homes come on to the market.

The problem is, 50% of these homes are not selling. We want to bring that startling statistic to the forefront because we think it's important to establish that although now is a great time to sell, you have to do it just right. Just listing your home with a typical agent, for example, won't magically sell your home.

Our team has the experience to get your home sold quickly. We have proven systems ,backed by market research, that guarantees your home will sell quickly and for top dollar. If you know somebody who may consider selling their home, do them a favor and send them this video. If you, yourself , are considering selling, click the link over here on the right side of the page to enter your address for an automatic estimate of what your home is worth. If you want an even better estimate, please feel free to give us a call or reply to this e-mail to discuss your home's true market value and receive a detailed market analysis catered specifically for you.

If, on the other hand, you are in the market for buying a home, we have a search engine and a mobile app that will give you the chance to see all the homes on the Charleston MLS. If you have any questions at all, give us a call or send us an e-mail. Thanks again for watching and have a great day!

Charleston Market Update

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 795-7950 for a FREE home buying or selling consultation to answer any of your real estate questions.

Charleston Market Update

I recently had the privilege of meeting with Mayor Riley for an update on several developments happening in the area. Many of you will be interested in these projects – they will have a huge impact on your lifestyle!

As the fourth busiest harbor on the East Coast, Charleston Harbor is currently working with the Federal Government to deepen the harbor. This will allow for more business to enter our port! You can expect drudging to be completed as early as 2019. In addition, Charleston is adding a 280 acre Container Terminal which in turn will increase the port’s capacity by 50%. Union Pier will also be expanded to include a new Cruise Terminal; this will bring even more traffic and capital to Charleston! The additional foot traffic also will have a positive effect on the real estate market because some of the visitors will actually end up purchasing a home in Charleston!

Everyone is curious about the current state of I-526. The interstate will be extended by seven miles to connect with River Road, Maybank Highway and the James Island Connector. The extension’s speed limit will be set at 45 MPH and will have limited traffic signals to make for less congestion. This extension will also make for a faster commute and higher property values for the residents of James Island, Johns Island and West Ashley. This makes for a great time to buy property in these three areas! For example, the property values for James Island had increased by as much as 20% following the construction of the James Island Connector.

The Cainhoy Plantation is a development in Berkeley County of over 9,000 acres. This will be a mixed use development consisting of a commercial core and surrounded by neighborhoods of varying density. Improvements will also be made to Clements Ferry Road from I-526 to Highway 41 in order to alleviate traffic in the area. This will in turn mean better schools and improving real estate values.

Charleston’s Midtown District is a part of King Street that sits between Cannon and Spring Streets. A nine story, 300 room hotel is currently being constructed that will not only offer 30,000 square feet of office and retail space, but also 400 additional parking spots downtown. You can expect this to be completed in 2015. The Elliotborough property values will benefit from this as the area will become more attractive.

Finally, the Charleston International Airport will undergo a three-phase, $189 million renovation which will include a rental car pavilion, an additional baggage carousel and six more gates. The TSA screening checkpoint will also be consolidated to speed up the flow of traffic. These changes should be finished by Fall 2015.

If you would like to hear more about the various projects happening around Charleston, feel free to call or email me – bring your real estate questions as well! Thanks and have a great day.

What You Need to Know about Charleston Real Estate for February 2014

There are many great Charleston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 795-7950 for a FREE home buying or selling consultation to answer any of your real estate questions.

What You Need to Know about Charleston Real Estate for February 2014

Charleston's Market is on the Rise: January 2013 to January 2014

• Compared with last January, there has been a 19% increase in the number of homes sold.

• Median sales prices have also risen by 14%.

• Short sales have dropped by 21% to make up 14% of our selling market. 
• This is a great sign because this will positively effect appreciation in our Charleston market.

•  Inventory is also up to 7 months, a 2 month increase from December 2013. This sort if increase is not too surprising, especially since we're approaching spring when more people list their homes for sale.

Expect a Deep Sellers Market

• There are less than 5,800 listings in the Charleston area.

• Currently, there is high demand and low inventory
• If you're looking to sell this spring, now is a good time to prepare your property.

Interest Rates

• The federal government is tapering it's funding to the housing and mortgage industries, which will cause interest rates to creep back up from previous historic lows.

• It is important to note that these low interest rates were artificially created by the federal government's funding.
• Rates are expected to climb slowly throughout 2014, so this still gives you a window to borrow money at a very discounted rate.

• On average, interest rates are expected to hit 5.2% in the first quarter of 2014.
• Rates are still at 4.5%, so this is still a very good chance for buyers to save money.

Overall I expect to see a bustling market in Charleston this spring. It's a good time to buy, and also a great time to sell. If you need help doing either of these things, do not hesitate to call me. I can be reached at (843) 795-7950 or email me at Dave@DaveFriedmanRealEstate.com