Summerville Real Estate Market Report for 2017

By
Real Estate Agent with Carolina One Real Estate

Welcome to the 2017 Summerville Real Estate Market update with Foster Smith!  To see what we are looking at for 2017, we need to take a quick look back at our real estate market in 2016. The Charleston and Summerville Real Estate Markets continued to grow and strengthen last year and all indications show that trend will continue, let me tell you why.

In the Greater Charleston, SC Real Estate Market:

  • Sales up 9% from 2015
  • Median Price up 1% from 2015
  • Days on the Market down 12% from 2015
  • Inventory down 10% from 2015

In the Summerville, SC Real Estate Market:

  • Sales up 15% from 2015
  • Median Price up 8% from 2015
  • Days on Market down 17% from 2015
  • Inventory down 22% from 2015

With inventory numbers down so significantly, we continue to sustain a sellers market in Summerville, SC. I have had many people ask me "Are we on the edge of a cliff like we were in 2008?" "Is the market going to fall out again?"

My answer is "No" due to several factors.

  • Job Market has grown by 80,000 jobs since 2005.
    • 2005- 278,000 jobs, 2016- 358,000 jobs 
  • Desirability of the Charleston/Summerville area.
    • 45-60 people per DAY are moving to the Charleston area.
  • Median income is up 25% from 2005.
    • Changed fom 45K/year to 56K/year.

The real estate for sale in Summerville is down and the job market and economy is strong in Charleston. These all combine to make homes worth more and support strong prices.

 

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. While we are waiting to talk, try to read The Top Six Things that Impact the Value of Your Home.

 

Please feel free to contact me if you are interested in buying a home in Summerville. I will be happy to help you learn about the Summerville area and what homes are available, or will soon be coming available. While you are researching, make sure to listen to Four Vital Questions to Ask When You Buy a Home.  Some other articles that buyers find helpful are Five Bad Habits to Kick if You Want to Buy a Summerville Home in 2017, and How Much House Can I afford?

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Tags:
real estate market report
charleston sc real estate
summerville sc real estate
carolina one real estate
foster smith

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
4,432,217
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Home buyers and sellers in your area should call you to be their agent

Jan 30, 2017 04:38 AM #1
Ambassador
1,485,851
Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Foster Smith Summerville Thank you for taking the time to share this vital real estate market insight.  This is the sort of item that buyers and sellers will find most beneficial...helping them to make informed market decisions.  Very professional!

Jan 30, 2017 08:58 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
207,899

Foster Smith Summerville

Summerville & Charleston Homes for Sale SC Realtor
Send Me Information on Charleston
*
*
*
*
Spam prevention

Additional Information