Summer sellers - this one is for you
Tips to sell in the summer heat 🍉

The IOP Market... today. 

Low 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. 

Rising Prices.  Prices have been steadily climbing since 2015 and today the median sale price on the Isle of Palms is up more than 53% over the past 6 years. Homes priced under $1MM are exceptionally hard to find and typically get scooped up rather  quickly.  

When is the right time? if you're like most Buyers, you may fee like you're chasing the market. We often hear people say that a listing appears to be 'overpriced' only to sit on the sidelines waiting on a better deal to come.  Months later and that old place seemed like a great deal. Be ready to pounce on a fairly priced deal when you see one. If you're Seller, you can push the market a little BUT keep in mind that days on market is your best indicator to whether or not your price is legit. Price and condition are the two biggest determining factors in whether or not your home represents a good value.

28

New Listings

↓  15.2% 

$916,000

Med. Sale Price

↑ 5.8 % 

31

Sold Listings

↑ 93.8%

106

Days on Market

↓ 5.5%

What's My Home Worth Now?

The market is constantly changing based on available inventory, recent sales, interest rates, time of year and many other factors.

Check My Home Value

Inventory

Also known as the Absorption Rate, this is the measure of how many months it would take for ALL active listings to sell at the current rate of pending sales, assuming no new listings are added. The National Association of Realtors advises that six (6) months is a 'balanced' market. Of course, all real estate is local so check with us first to gain a better understanding of what's normal in your particular area of interest.

Showing Activity

Another good measure of Buyer interest is the average number of showings per listing per month. Use this chart to time your home search or sale before the rush.

Buying with Confidence

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