In today’s real estate market, everyone is always asking, “Is the market slow?” If I field that question one more time I think I am going to jump off a bridge. Not really! But folks, please stop believing everything you are hearing on the national news every night. This doom and gloom rhetoric that these biased media outlets are spewing is not all true, especially in Charleston. For instance throughout the entire area, according to figures from the Charleston Trident Assocation of REALTORS multiple listing service, sellers are receiving 88% of the sales price compared to the list price. That is only 4% below what the sellers were receiving last year at this time. Yes, we have sold approximately 2,500 fewer homes compared to this time last year but that is only a 35% drop!

Listen, the 2004-2006 market couldn’t have lasted forever. The median price of a home would have shot through the roof if that market would have kept going. At least now there are some affordable homes available in areas that weren’t so affordable just a short time ago.

In fact I like the current market. I usually educate people to the fact that this a stable market rather than a slow market. We now tend to sell homes withing a 3-5 month period rather than selling them in less than 60 days. It takes a little longer to market. However, you get an opporturnity to get to know your client more.