5 Reasons It's a Sellers' Market in Charleston

Sponsored by: Daniel Ravenel Sotheby’s International Realty

If you've been considering selling your house now might be the very best time. Whether you're looking to buy a house with more room for a growing family, downsize now that you're empty-nesters or you simply want to live in a different area of the Lowcountry, this is the time to seriously consider putting that "For Sale" sign in the yard.

Charleston's popularity and the influx of people moving to the Lowcountry shows no signs of slowing down. All these people need a place to live and will be clamoring for a house that's in good condition, priced well and is conveniently located to schools, shopping and other desirable amenities.

So what makes this moment in time a boom for sellers?

  1. Inventory is low and demand is high. According to the Charleston Trident Association of Realtors, inventory in 2014 was 12% lower than in 2013. Yet sales volume increased 9% last year. That trend has spilled over into 2015 as we see fewer homes on the market. If you have a house to sell, there’s a good chance you’ll have multiple buyers eager to take a look and make an offer.
  2. Charleston is hot, hot, hot. Not only is the city the No. 1 tourist destination, but it's also attracting people who want to move from other parts of the country. In 2013, the tri-county was the 12th fastest-growing metropolitan area in the United States. People are moving to Charleston and they need a place to live.
  3. Charleston's quality of life is second to none. The area attracts people of all ages and backgrounds. Retirees, families, entrepreneurs and young professionals are finding Charleston is the place to be. From a warmer climate to a bustling nightlife and from a vibrant arts scene to fine dining, Charleston has plenty of offer newcomers.
  4. Business is booming. Often dubbed "Silicon Harbor," Charleston has become a hot spot for tech startups, incubators and established tech companies looking to grow and expand. Many of these companies are experiencing rapid growth, which means CEOs and upper management are buying up high-end homes.
  5. Lower interest rates. First-time homebuyers, those looking to purchase a vacation home or even those who want to a little more space have been motivated by interest rates hovering around 3% or less. That’s a mighty incentive to buy. It's also an incentive for you to sell and strike while buyers are hot to snatch up their dream home or a historic property in the nation's best city.

If you've been thinking of selling, this is a great time to make move. Consult with a real estate agent on how to get your home ready to show. Agents at Daniel Ravenel Sotheby's International Realty can determine the best listing price that will not only allow you to sell your home quickly but also walk away with cash in your pocket.