What is your Charleston home worth?

That headline might be slightly aggressive. However, as the data on the 2017 housing market has begun to roll in, we can definitely be confident in saying one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

The February numbers are not in yet, but the January numbers were sensational. Lawrence Yun, Chief Economist for the National Association of Realtors, said:

“Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home. Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate…”

And CNBC says consumer confidence in the economy is fueling the market:

“U.S. home resales surged to a 10-year high in January as buyers shrugged off higher prices and mortgage rates, a sign of growing confidence in the economy.” Source

The only challenge to the market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is less than a four-month supply of inventory. This represents a decrease in supply of 7.1% from the same time last year.

Now may be the perfect time to get the best price for your home. Contact us today to see whether that is the case in your neighborhood.

All in all, Charleston area home buyers are having a difficult time. There are simply not enough homes for sale to keep up with the demand. Home sales are up almost 10% from last year in the Charleston area! This creates a unique opportunity – The time to sell is NOW! Don’t wait for rising interest rates to decrease the value of your home. Find out instantly, for FREE what your home is currently worth!

Property Valuation Plus

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.