What about the housing prices in our area?

Dated: October 12 2020

Views: 80

As agents we get a lot of questions about the market. The one question that comes around more than many is when do you think prices will come down? To answer that question, I took a look at some research and this is what I found.

The U.S. median home price hit 12.9 year -over-year increase around 350,000 with the largest annual growth in 2017.  Even in this crazy market in the midst of a pandemic records indicate 21 weeks of continuous growth in prices, although inventory was down. The National market is actually stronger now than in the pre-pandemic phase. According to Forbes Magazine, our area Charleston and North Charleston had a 14.4 percent median year-over-year increase our homes are selling 22 days faster, with inventory lower by 42.2% from this time last year. Still people are willing to move and start a new chapter in their lives even with the risks of COVID governing their strategies even with the holidays afoot. Traditionally during the holidays, the market slows, however with the uncertainty of availability this may be the year that breaks all the rules.

Rick & Angie Decker are realtors with Local Homes and Land Real Estate serving the tri-county area. When the next chapter of your life starts, we are here to help you through it. Call or email us today to start your journey. 

Phone: 843-499-6872

Email: rnadeckerteam@gmail.com

Rick & Angie Decker, Realtors

843-499-6872

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Decker Team

Rick and Angie Decker work together as The Decker Team and they specialize in both Commercial and Residential real estate.. Angie entered real estate part time in 2016 while also working as an Operati....

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