Lowcountry’s housing market finally takes holiday
The Lowcountry’s housing market has been red hot for much of the year, but recent weeks have been cooling a bit.
Some real estate agents are saying this could be the best time to sell a home, beating the spring blitz.
The region’s home sales are on track to reach highs unseen since before the housing meltdown. Low prices and mortgages rates have home sales rolling for much of the year as 200 or more homes have been under contract fairly consitenant during any given week.
But inventory is starting to thin, and the number of homes under contract have slipped under the 200 mark for most weeks since Thanksgiving, according to CharlestonRealEstateStats.com. “A lot people are taking their homes off the market for the holiday,” said Doug Holmes, an agent with Carolina One Real Estate who analyzes sales market statistics for the website. “They don’t want to show their homes during Christmas with the presents around the tree.”
Holmes said the lull could make it an ideal time for sellers to put their home on the market.
Last week’s item about the 2012 Coldwell Banker Home Listing Report that ranked Mount Pleasant at the top in the state for priciest residential listings sparked some reaction and questions. Notably: Why weren’t homes on the Charleston-area’s pricy barrier islands included?
The report’s findings was based on the average listing price of four-bedroom homes with two bathrooms among 72,000 home listings in more than 2,500 markets.
Kimber Smith, broker in charge at Akers Ellis Real Estate & Rentals on Johns Island, pointed out that on Kiawah Island, the average price on four-bedroom homes at $1.8 million. That surely tops Mount Pleasant’s $378,164 average cited in the report.
Reach Tyrone Richardson at 937-5550 and follow him on Twitter @tyrichardsonPC.