Charleston Market Stats

For the period of January and February 2009 compared to those same months last year, we have seen the number of sales drop by 45% and the sales price drop by 12%.

Only about 20% of the current market is priced correctly. Some of that 20% is priced very well. The other 80% can sometimes be very overpriced. While some of the sellers still haven't figured this economy out, about 20% of them seem to be ahead of the curve. My company has actually hired me to create a list for the company of the best 20% the market has to offer. Don't buy or sell without seeing this list first.

While the number of new foreclosures might peak this year (if everything goes right), we’re still going to be dealing with near-record numbers of foreclosures being processed and then with a massive inventory of bank-owned properties throughout 2010 and into 2011. Only 28% of the available listings sold in 2008. Soon, probably August of 2009, 20% of the available listings will be short sales and foreclosures. It will become extremely difficult to compete with their prices once this occurs. The ordinary home seller won't have a snowball's chance of getting his home sold.