The universe is starting to feel different. When all I could do over the past few years to avoid negativity and keep pushing forward was to continue trying to help without thinking too much about the economy, optimism is now seeping into my day more often than not.
Yep. Good news to report here. Charleston SC real estate listings are selling and the inventories are starting to fall.
Back in the mid 2000’s, the inventory levels were extremely low. Basic supply and demand made it a challenge to help buyers and houses were hard to find.
Of course one may reflect back on 2005 as a great time to be in real estate, but I remember thinking... “gee, soon buyers will not be able to afford anything.” First time buyers were having to pay big bucks for small houses, and as we all know, the house of cards came tumbling down for a few years.
in 2008 I think I actually saw the sky falling for a few of those days.
As I have mentioned in previous posts, I have no ability to predict the future. No crystal ball here. And while I am not clairvoyant (unless it comes to what my kids are doing at any point in the day without having to think about it,) I have learned some simple economic principles that have proven to be very true.
Supply and demand works. Heavy supply, low demand. This brings prices down. High demand, low supply. The reverse happens and things get expensive.
Consider These Numbers:
- 2009 - 8403 Sales - Average number of sellers on the market - 10983
- 2010 - 8856 Sales - Average number of sellers on the market - 10,365
- 2011 - 9402 Sales - Average number of sellers on the market - 9082
Notice the lower inventory and the higher sales amount for 2011. Of course this is not a drastic shift, but I am not afraid to say it is a trend. A trend showing that the market is shifting, pointing to a better time for everyone. Listing inventory is dropping in many areas and the Charleston SC real estate listings are starting to get more showings and more contracts.
And guess what! The media is starting to report that Charleston SC real estate listings are selling! This is certainly welcome news. Notice the slight play on words... “Media” and “Welcome News” - clever right? (ok - maybe not so much)
Just this week I have sold 4 properties, and just received an offer at 8 pm on a Friday night for a home that recently had very little activity.
So do I feel optimistic? Yes. Yes, I certainly do. I hope you will join me!
PS - All Charleston SC real estate listings are found on this site. Everything listed in fact.
Good luck and happy house hunting!
Nat Wallen is a Realtor in Charleston SC specializing in residential property sales. He has been licensed since 1995 and is the top listing agent with Carolina One Real Estate. Carolina One Real Estate is the largest company in the Charleston SC area of 700 plus agents. NOTE: Nat Wallen never solicits consumers interacting with his blog unless requested. YOUR comments are encouraged and welcomed. Thanks!