Want to sell your home For Sale By Owner?
9 Step Guide

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.

48

New Listings

↑  41.2% m-m 

$790,000

Med. Sale Price

↑ 9.0 % y-y

30

Sold Listings

↓ 6.3% m-m

103

Days on Market

↓ 15.6% y-y

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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