Over half of Charleston homes for sale fail to sell
Even though it's been a very good first half of the year for home sales in the Charleston real estate market, there is still a lot of inventory and the basic reason is that more than two homes are listed for sale in the Charleston MLS for every home that sells.
Here are the numbers for the first half of 2010.
And so if you are thinking of selling your home in today's Charleston real estate market because you've noticed that home sales have improved, it's still very much a buyers market so more than ever, your home needs to be priced right and the condition is just as important if you want to get top dollar. There are a steady stream of foreclosures coming on the market every day, some distressed sellers are trying to do short sales and there are plenty of other very motivated sellers. All that is competition when you are listing your home for sale.
While I expect sales to slow in the second half of the year, I also expect that fewer homes will be coming on the market so the Charleston housing market should remain reasonably stable.
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.