Looking to buy the home of your dreams — or planning to sell your current home? We know real estate is all about location, location, location, but the Charleston market is especially complex right now.
Here’s why: The increase in interest rates has caused many buyers to sit on the sidelines and sellers to wait on selling their homes (since they’re comfy with their current rate). What makes this a challenge? Folks are still moving to Charleston, and the demand for housing is strong.
If you’re a buyer
Competition is low right now, and sellers may be willing to make more concessions. Savvy buyers are willing to take on current interest rates knowing they can likely refinance when rates come down. They also know that home prices in the Charleston area will likely continue to rise.
If you’re a seller
Competition is also low for sellers right now due to low inventory. Read: Less homes for sale means yours will get more eyes and the buyers looking may be more likely to say yes to your address.
Have more market questions, or considering a move? Enter: Natasha with The Pulse Charleston, who has been recognized among the top 2% of Realtors® in our area.
