Welcome to the Summerville Real Estate Fall Market Update!
Already the 2020 Election Spin cycle has started! Have you noticed? "We're in the worst economy and the recession" Every side is beating the drum, but let's look at some statistics and see if that drum beat is actually true. Right now, we're in the longest economic expansion in US History. Employment nationwide for a hundred years has been 4%. This is what has been considered basically full employment in our nation. Currently, the US is at 3.5 %. South Carolina is at 3.2 % unemployment. There are more jobs then there are people looking for jobs. South Carolina construction employment is the third highest in the nation.
Here is a shocking statistic....44 people a DAY are moving to the Tri-County (Charleston & Summerville) area. 44 people a day!! All of these people are looking for homes for sale in Summerville, SC, but the statistic that's a stubborn one is 5,469 houses are on the market in our Tri-County area. That's been the figure for years now. It's stubbornly low. That's been the figure for years now. Its stubbornly low as the demand is outstripping the supply in housing as well as in the jobs. Year to date the highest number of pending listings. Those are listings that have sold and closed or have sold and have not closed yet. We have the highest number of pending listings that we've had in any of the past ten year periods. Any! So are we on the brink of disaster? Not in the Tri-Charleston!
If you are a home seller and would like to discuss your Summerville Home and what it is worth in our market today, please e-mail me for more information or fill out this form.
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