Despite the ongoing COVID-19 crisis, Charlestonians are still interested in buying + selling homes.
Across SC, the housing market was strong last year. Both total home sales and new listings increased 4% in 2019. However, the pandemic drove statewide home sales down by 21% in April 2020. And only 6,800 real estate transactions took place in the month of April compared to 8,641 in 2019. But, experts remain optimistic that the market will bounce back.
Inventory is also low, however, as restrictions lift, experts like real estate agent BJ D’Elia with Daniel Ravenel Sotheby’s International Realty say potential buyers will likely see a surge of listings – which should help with the pent-up demand from the quarantine. Experts also expect to see low mortgage rates continue throughout the remainder of 2020; good for first-time buyers + those looking to refinance.
TL;DR: Locally, our market remains strong, and now is still a good time to invest in a home in Charleston.
So, how do you buy a home during a pandemic?
Very carefully, says D’Elia, who also believes much will stay the same as the shutdown ends. “Hot houses in cool neighborhoods will continue to break local records.” Bonus: Before he moved here full-time, he vacationed in Charleston for the past two decades – so he knows a thing or two about the city.
Want to know what the “Brooklyn” of Charleston is? He’ll be able to tell you it’s Wagener Terrace. His weekly newsletter is full of insider tips, and he wants to help locals + visitors find their Charleston dream home.
Before getting into the real estate industry, D’Elia was an award-winning television news producer with CBS News. He lived in New York, Washington, DC, San Francisco + Silicon Valley before making the Lowcountry his home in 2016. Read: He’s lived in big cities, and can translate that knowledge of cityscapes to Charleston to best fit his clients’ needs.
As a Daniel Ravenel Sotheby’s International Realty Sales Associate, his goal is to make the buying and selling process as smooth as possible for each one of his clients. His communications background allows him to listen carefully to clients and their needs, and to build and cultivate meaningful relationships.
Bonus: D’Elia put together a weekly newsletter, “Dream Digs,” focused on luxury real estate properties locally + across the globe – like this 3 bed, 2 bath historic mansion in downtown Charleston. Send him an email at [email protected] to subscribe. Ⓟ