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Weekly Beaufort SC Real Estate Stats
Well, another week, another post on what is going on in the Beaufort real estate market.
All in all, this is still a great time to buy.  Although mortgage rates have started to tick up, and certainly that is the long term direction for rates, they are still at or near historic lows. 
There were 870 homes for sale in the greater Beaufort area as of Monday Nov 22, 2010.  About 15% of these were either short sales or foreclosures, and both of those categories have inched higher in the last couple of weeks.
There were 60 homes under contract, of about 7% of the active market.  This is as high a number as we have had since late September and early October.  However, as you can see from the chart below, the overall trend for under contract homes is still down.

So what does this mean?  Two things really- 1) if you are a buyer, this is an absolutely golden window of opportunity to buy, but the window is starting to close.  When rates go up, they will probably move strongly, and they won't be this low for probably the rest of our lives.
Second, if you are contemplating selling right ... more

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