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2019 SC Real Estate Market Rundown

2019 SC Real Estate Market Rundown

Hello, 2020! We’re off to a great start to the new year here at Jeff Cook Real Estate and we hope to continue to bring you the most accurate predictions of the real estate scene. Here are some statewide insights on the previous year from your local real estate experts. 

As we look back to the statistics in 2019, we see that our country’s strong economy supported more new home buyers and a healthy housing market! As if that’s not enough of a reason to celebrate; mortgage rates declined significantly from 2018.  

In 2019, the number of homes available for sale was lower than in 2018 by 3.9%. This is great news for homeowners! We’re currently in a seller’s market which means there are fewer homes available for buyers. Sellers can be more competitive with their homes’ price because there aren’t as many options for buyers. With a real estate expert from Jeff Cook Real Estate, just imagine the return you could get when you choose to sell your home with us! 

Here’s a quick comparison of the previous year: 

New Listings - 120,210 (up 4%)

Pending Sales - 91,683 (up 5.2%)

Closed Sales - 91,140 (up 4%)

Homes for Sale - 27,283 (down 3.9%)

Days on Market - 85 days (down 2.3%)

Median Sales Price - $215,000 (up 7.5%)

Percent of Asking Price Received - 97.5% (up 0.1%)

Overall, 2019 brought prosperity to the real estate market. Here at Jeff Cook Real Estate, we listed 680 homes and served over 1450 families in 2019. We also maintained 98% (on average) of asking price received for our clients! 

Here’s a look at some insights on the main areas throughout the state:

Charleston

Total Closed Sales - 18,572 (up 2.1%)

Days on Market - 55 days

Percentage of Asking Price Received - 98%

Greenville

Total Closed Sales - 14,574 (up 6.5%)

Days on Market - 53 days

Percentage of Asking Price Received - 98.1%

Columbia

Total Closed Sales - 13,901 (up 1.4%)

Days on Market - 54 days

Percentage of Asking Price Received - 97.6%

In the year 2019, Jeff Cook Real Estate is proud to announce that we served a total of 1,452 families! A goal for us in the new year is to serve 2,020 families in the Carolinas. As we look to 2020, the healthy economy and low mortgage rates give us a great foundation for a new year. As with election years, we can expect to see less confident buyers and sellers. No matter their political stance, most people tend to hold their money closer until election season comes to a close. 

“2019 was tied for the best year ever in terms of the number of completed transactions and prices are currently at an all-time high. If you’re thinking of making a move, now may be your best time.” 

- Jeff Cook

These numbers are important to know in order to be informed when the best time to list your home is! This is the best time to list your home since it is the busiest time of the year for real estate! Call 855-HEY-JEFF to list yours today!

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