The IOP Market... today.
More Inventory. The number of new listings for sale on the Isle of Palms has been steadily rising since June 2018 and April was actually the first month to see a rise in Pending Sales since last Fall 2018.
Is this a sign of the market losing steam or just your typical seasonal trends? I've been watching the inventory curve closely and it's been steadily rising since September 2018. Also, the pace of showings per listing has decreased slightly indicating a softening demand.
Get ahead of the game. For Buyers, new inventory is hitting the market and, if priced right, it's moving quickly. Be ready to pounce on a good deal when you see one. If you're Seller, you must be absolutely vigilant on your pricing. The slowdown in showing activity and pending sales indicates that Buyer's aren't finding a worthwhile value in many of the homes currently listed. Price and condition are the two biggest determining factors in whether or not your home represents a good value.