Charleston’s real estate market is on fire these days for sellers. If a home is listed for the right price and prepared correctly it is a hot commodity. However, there has also been a boom in new construction as of late. A large amount of this new construction is apartments, but single family homes follow quickly behind. Empty lots are being snatched up in established areas as well as larger developments. But what does this mean?
There are clear needs to established homes as well as new construction. Charleston is a city filled with history and oftentimes buyers want to find a home with historic features as well as modern updates. If you are currently considering selling your home in or around Charleston, make sure to remember that the current environment will not last forever. Sellers of established homes currently have the upper hand due to price in an arena with quickly rising prices, well-established neighborhoods and the opportunity to add value over time with improvements. All of these factors play heavily in the minds of homebuyers and you should consider the precedence placed on the largest factors above when selling your home.
If 59 percent of homebuyers are interested in established homes because of price, then take note. Pricing your home wisely is not a suggestion, but rather an absolute in the home selling process. If you are on the fence about selling your home or need more information about pricing your home in this area, please don’t hesitate to contact us.