Meta Description: A quick rundown of real estate trends to watch out for in Charleston for the year 2022.
Hundreds of new residents are moving to Charleston, South Carolina because of its cobblestone walkways, incredible historic sites, world-class restaurants, and miles of stunning beaches. Charleston has also been named the best city in the US by Conde Nast Traveler readers.
Whether you’re moving out or planning to invest on your property in Charleston, it’s best to be familiar with what real estate trends in 2022 say about the area. Doing so allows you to make the best decision when it comes to many aspects of selling your Charlestonhouse, like its value or whether to sell through an agent or look for another method.
Let’s have a look at real estate trends for Charleston in June.
Faster Sales from Families
The inventory of single-family detached Charleston homes in the area has decreased by 53.2% from 741 in February 2021 to 347 in 2022. However, many real estate agencies are having their best year with closed sales amounting to hundreds of thousands of dollars. With an average of 25 days on the market between January and mid-March, Charleston homes are going faster than ever. It’s half of the then-surprising 50-day average from last year.
According to real estate trends, Charleston has more full-time buyers than ever, comprising of full-time residents with kids moving downtown in 2022. Families are mostly moving from New England, Chicago, and Ohio, as well as drive-to markets like Atlanta and Charlotte. All buyers are still looking for Charleston homes with outdoor living spaces and friendly work-from-home environments, even if vacation home purchases have leveled off.
As the Charleston market heats up, more and more people are buying next-door properties to use as offices, guest rooms, and rental properties.
The Demand Problem in Charleston
There’s more of a demand problem than an inventory problem now. There are a few Charleston homes for sale, but they go fast as buyers continue to flood into the area.
When making an offer, cash is still king, and selling your home fully furnished is a great way to enjoy your money sooner and avoid supply chain issues. The latter real estate trend is especially prevalent in the luxury market, where furnishings have already been chosen by interior designers.
In rental properties, it’s not unusual for buyers to want a Charleston home that’s fully furnished so they can start renting right away, but buying fully furnished for a primary home is a recent trend that became prominent during the pandemic.
Due to current supply shortages and shipping delays, buyers love this because this option provides furniture right away, saves on moving costs, and is perfect for those buying a Charleston vacation home or investment property. Buyers can just then bring a suitcase and toothbrush and enjoy their new home immediately.
The Best Way to Sell Your Home in Charleston
Now that you’re familiar with the real estate trends in Charleston, it’s time to make important decisions on selling your home. The two most important decisions include:
- Determining the market value of your Charleston home
Finding the market value of your Charleston home usually involves an expert’s eye, so it’s highly recommended that you hire a real estate agent. They have a wide range of networks and resources to help determine the right price for your home.
But if you want to do your own research, you can check listings of homes being sold in your neighborhood. There are also online resources available where you can just provide information on your home, and they will compute the value for you.
- Deciding between listing your Charleston home or selling for cash
Selling your home usually involves hiring a real estate agent, who has the expertise, resources, and time to walk potential buyers through your home. They’ll also negotiate on your behalf, giving you more time and energy to focus on work and personal matters.
On the other hand, there’s also the option of selling to a cash home buyer. By selling for cash, you get your money right away, with no deductions from repairs or agent commissions. This is also the best way to sell your home when you need to sell fast.
Asking “How to Sell My House Fast in Charleston?”
Are you thinking “I need to sell my house fast in Charleston, SC” but don’t know where to begin? At Hooked Property Solutions, we’ll help by presenting you with an all-cash offer. We can have the cash in your hand in as little as 10 days if you need it immediately.
We’d like to make you a cash offer and close on your property when you’re ready. No need to spend on repairs — we’ll buy your Charleston home as-is. Better yet, you don’t have to pay us a commission — the full amount is all yours when we close on your property.
Need more information? Call us today at (843) 900-1679.