Buying and selling homes in South Carolina may interest you for many reasons. Perhaps you’re considering a job offer in another state and are thinking about putting your house on the market. Maybe you’re a newcomer to the Palmetto State and are still searching for your dream home. You might be a freelance writer who creates content in the real estate niche. Whatever the reason, staying updated on current industry trends can help you make informed decisions and be in a better position to achieve your goals.
The South Carolina real estate market, like those throughout the country, typically fluctuates. Right now, it’s a seller’s market, although inventory has somewhat increased in recent months. Keep reading for a brief overview of current industry trends and remember to connect with an experienced agent when you’re ready to buy or sell.
Here’s what’s happening in South Carolina real estate
Current real estate trends in Columbia and surrounding regions include an increase in median home values. Recent stats show median home prices in South Carolina at $388,100, which is slightly higher than North Carolina homes yet less than the national average. Beyond home prices, the following list includes additional information regarding current market trends throughout the state:
- Houses stay on the market for approximately 60 days right now in South Carolina.
- Monthly payments are typically just under $2,700.
- Interest rates are holding at approximately 7.8 percent.
- There are currently more than 25,700 homes for sale in South Carolina.
- Close to 100,000 residential properties have sold throughout the state in the past 12 months.
Real estate trends and statistics provide useful information that can help guide your decisions as a seller, buyer, agent or investor. However, every transaction is unique, so do not let an overview of market trends keep you from striving to achieve your goals.
Work with an experienced sales agent to get the most for your money
Whether buying or selling, getting the most for your time and money is always a top priority. This is where the skills and insights of an experienced real estate agent can help you strike the best deal possible. If you’re a buyer, providing your agent with a list of needs and preferences can help streamline your home search—no need to waste time looking at houses that don’t fit your budget or plan. As a seller, an experienced listing agent can assist you to determine a fair list price, which, in turn, helps avoid having to lower the price later if you’re not getting offers. The South Carolina real estate market is currently active and competitive. By staying updated on market trends and info, you’ll be ready when the time comes to buy or sell.