As we head into the summer, I wanted to reach out and check in with you about what we saw in the first quarter in our market.
The number of transactions in the market as a whole is up by 13.5% from last year and the median sale price is up by 4.5% too, which is fantastic. However, there is something strange going on in three specific markets out there where the median sale price is down in comparison to last year. Those markets would be Hanahan, Cainhoy, and Mt. Pleasant.
Overall, things are great though. There are 17 different mini-markets out there that have less than 4.5 months of inventory available, making them all seller’s markets. At the same time, there are about seven mini-markets that are right around six months of inventory, which is considered a balanced market. If you want to know what kind of market you are in specifically, don’t hesitate to reach out to me.
We’re having a very strong year. In fact, this could be the best year ever for our market. It could very well be the first year we have more than 18,000 home sales in this market.
I’ll keep you updated with changes in the market as they come. If you have any questions in the meantime, give me a call or send me an email. I look forward to hearing from you.