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Real Estate Market Conditions for South Carolina:

The South Carolina Real Estate market is picking up early this year from the normal winter slow-down. There is a lot of activity from both buyers and sellers that normally does not start until late February.

Prices have remained pretty even over the past six months considering the large inventory that we have. Right now there are some really good homes available at great prices and there are some exceptionally good deals available for those shopping around because some homes have been on the market for almost six months. These houses were not overpriced, but they have not sold due to fewer buyers in the marketplace. Many sellers have become anxious to sell so they have lowered their prices below what should be expected. This kind of pricing will probably not last through the spring when the market really gets rolling. If you are looking for a bargain, this may be your last chance.

Sellers are now aware that the condition of the house has a lot to do with pricing and are fixing up their homes to sell. People are painting, carpeting, and in some cases putting on new roofs to market their homes and are getting more money because of this. In this market the neighborhood and condition of the home can make a big difference in the price even within the same areas of town. People who have maintained and upgraded their homes have had more success selling them at a good price while those that have not have had to lower their prices considerably to sell them.

The key to understandingSouth Carolina real estate is to accept that when the market slowed last year many houses were not priced to sell, but were priced at the level people thought the market would rise to. They were priced at a "hoped for" value, not an "actual" value. When the market stopped rising many sellers were slow to respond and did not come down on their prices. Believe it or not, there are still some people that feel that they are losing money if they can't sell their home for that "pie in the sky" price people were asking for in the past. The market has not really lost value it just hasn't gained as much as we had hoped for. That's real estate!

Current Real Estate Market Conditions for South Carolina:

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