2023 was a challenging year for the U.S. housing market. Mortgage rates reached a 2-decade high, housing inventory remained at historic lows, and sales prices continued to climb, making homeownership feel out of reach for many. We understand that housing affordability is a top concern for homebuyer

Market Update Is the market shifting? Yes! Is that a bad thing? No! Nationally the number of homes sold is down about 20%, however in the Charleston area, it is only down about 10%. The number of homes for sale is INCREASING. In the Charleston area homes for sale is up by about 13%, however, Summer

Summerville 2020 Real Estate Market Review Watch my 2020 review of the Summerville market and predictions for 2021. Summerville 2020 Stats for Single Family Homes Median Sales Price = $297,000 (8.3% increase from 2019) Percentage List Price to Sales Price = 98.9% Median Days on Market = 5 Months Su

Talk of a housing bubble is beginning to crop up as home prices have appreciated at a rapid pace this year. This is understandable since the appreciation of residential real estate is well above historic annual averages. According to the Federal Housing Finance Agency (FHFA), annual appreciation si

Summerville had a great year for real estate in 2019.  Interest rates remained historically low, prices appreciated over 5%, and homes took less than 30 days to sell.  Summerville sold over 3500 homes this year, keeping on par with the last two years.  Below are the numbers.  Click on the graph to s

Your August Monthly Market Update will give you a snapshot of what's going on in the real estate market as well as what the experts expect in the coming months.  First, we'll review home pricing.  Then we'll address the talk about a coming recession.  Lastly, we'll discuss the housing affordability.

      It was a strong year for Summerville real estate in 2017. The number of homes sold increased while the number of homes on the market decreased over 2016. This strengthened the "Sellers Market" (where the number of months supply is less than 6 months.) In a Sellers Market, the buyer has l