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What Drives Home Prices Up?
What drives home prices in Summerville (or any town for that matter) to go up or down? The answer lies in the principle of supply and demand. When there are more houses on the market, home prices start to turn down. However when the supply of houses goes down, the home prices are driven up.
The Real Estate in Summerville, SC Situation:
As of August 2016, Summerville’s months supply of homes was only a mere 2.5 months. As of August 2016, Summerville’s inventory of homes was down 58% compared with the same time frame just one year ago. The resulting impact on real estate in Summerville’s home prices?
As of August 2016, average sale price of homes increased by 8.4% as compared with the same time frame just one year ago. Read More about Summerville’s Latest Real Estate Market Conditions.
Selling A Home in Summerville:
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. With the decrease in inventory, you may be surprised how quickly your home may sell when priced correctly and marketed by the Foster Smith Team.
Buying a Home in Summerville:
It is more important than ever to work with an experienced and knowledgeable agent in the Summerville ... more

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