Home sellers are in a great position this season. Home buying demand is still very strong in the greater Charleston, South Carolina area—and that demand heavily outweighs the current supply of homes for sale.
According to the National Association of Realtors (NAR) (1), today’s housing inventory nationally is only at a 2.6 month supply, tipping the favor to home sellers.
To add some perspective, in a neutral housing market you typically see a 6 month housing supply.
In the Charleston area, housing supply is even tighter. According to the Charleston Trident Association of Realtors (2), In September, 2021, we were sitting just at a 1-month housing supply. This is half the number of homes available in September 2020.
See the chart below.
Because housing demand in the Charleston area continues to be so high—with supply so limited—buyers can feel like they’re forced to make a big decision with limited options. And you might be in a position to ease that burden…
Home sellers have a huge advantage right now. Listing your home to sell now puts you in a position that could mean a higher sale price and better selling terms. It also means an increased chance that buyers will enter a bidding war for your home—giving you an even stronger advantage.
According to the latest Realtors Confidence Index Survey (3) from NAR, on average, homes for sale are receiving 3.8 offers. A multiple-offer scenario lets you select the best offer for your situation.
Selling your home this fall gives you incredible leverage.
The Bottom Line
Home buyers are looking for more options than are available at any one time. During the fall and winter months, fewer homes tend to hit the market—straining an already low inventory scenario. Selling your home now—before more homes hit the market—you have increased leverage and a greater chance to make the effort well-worth it.
Interested to know more? Let’s chat! There’s no commitment or pressure—just a casual conversation about your goals and how we can help.