We Specialize In These Charleston Area Communities

Charleston - Historic Summerville - Mount Pleasant
West Ashley - Oakbrook

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What 5 Statistics Define the Charleston Real Estate Market?

How has the Charleston real estate market improved over the last year? Here’s what the numbers tell us.

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I just got a report with all the latest statistics from the Charleston real estate market and I wanted to share some of the most important numbers with you. These five statistics paint a promising picture of our market and show just how far we’ve come since the recession.

1. New listings. Almost 23,000 new homes have come on the market in the last 12 months.

2. Home sales. How many homes were sold during the same time frame? Some of you may be under the impression that every home that comes on the market is selling. However, that’s not what’s happening in reality. Out of those 23,000 listings, only 17,700 sold. That means there are between 5,000 and 6,000 properties that failed to sell. Regardless of what you think about the market, I encourage you to make sure that your Realtor has a strong marketing plan in place to sell your home. That's really the only way to guarantee a sale in this market.
It is taking an average of 11 showings to sell a home.
3. Median sale price. This is intriguing. During the recession, the median sale price was around $180,000. Today, it’s at $240,000. It’s increased by over $50,000 in the past five years, but there are people who still think their home won’t sell. If that’s the impression you're under, I invite you to give us a call. If you tell us how much you owe and how much you’d like to sell for, we would be happy to give you our honest, professional opinion if that is doable.

4. Market time. How long does it take a home to sell on average? Over the past 12 months, the answer is 58 days.

5. Average showings. Finally, let’s look at the average number of showings it takes for a home to get an offer. Right now, homes are getting offers after an average of 11 showings.

If you’re interested in learning more and taking a better look at these statistics, you can view them in their entirety here.

If you have any other questions about Charleston real estate, don’t hesitate to give us a call or send us an email. We would love to hear from you.

A Unique Opportunity for You

Today I have a unique opportunity that I wanted to share. We're looking to add salespeople to each of our locations to serve the thousands of leads we've generated this month.

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Selling your Charleston home? Get a free home value report

I've been working in real estate here in Charleston for 13 years, so I've seen the highs, the lows, and a lot of other things in between. During that time, I've developed one of Charleston's first real estate teams, which has expanded into multiple locations.
We're looking to add two or three salespeople at each of our four locations.
In the past 30 days, our team generated 3,813 leads of people who are either moving to the area or who live here already and are thinking about moving. About two-thirds of the leads we generated are from outside the area by people looking to move into Charleston. Did you know that 53 people move to Charleston every single day? We can get you in front of those people looking to buy a home here, and that’s a huge opportunity!

Within our team, we share these leads with our agents, and we literally are not able to get to all of them currently.  We need YOU!   We're looking to add two or three great salespeople to each our four locations.

If you're interested, just reply to this email and it will go directly to Jeff , 100% confidential, or visit www.JoinJCRE.com.

What Do Rising Interest Rates Mean for You?

Interest rates have crept up and are on the rise even further. How can you take advantage of this knowledge?

Buying a Charleston home? Get a full home search
Selling your Charleston home? Get a free home value report

Extra! Extra! Read all about it! Have you heard? Interest rates are on the rise. What does that mean for your home’s value? That is exactly what I wanted to discuss today.

The entity that sets interest rates, the Federal Reserve, meets on a quarterly basis. In 2016, they increased interest rates in two of their four meetings, including the one in December. They have predicted that this year they will raise rates in three out of the four meetings.

Let’s just say they go up 1% from 4.5% to 5.5%, which is what many experts are predicting. Logic says that is still an amazingly low rate, and based on 20- and 30-year trends, it is. However, here is what that increase means for you specifically if you’re trying to buy a home.

This is the time to buy or sell before they go up.

If you get approved today for up to $300,000 at 4.5%, just a 1% increase will greatly affect your buying power. With a 5.5% rate, you would only be able to afford a $270,000 home and your mortgage payment will end up about the same as it would have been with a $300,000 home at 4.5%.

If you’re trying to get the maximum amount of money possible out of your home sale, now might be a good time to consider putting your home on the market. There are a lot of buyers out there looking right now and the more potential eyeballs looking at your home, the better. On the flip side, if you plan on purchasing a new home in the near future, it is a good idea to take advantage of the money while it’s cheap and before rates go up.

If you have any questions for me or if you are looking to buy or sell a home in Charleston, don’t hesitate to give me a call or send me an email. I would love to hear from you and discuss your specific situation further.