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Quarterly Market Report

We are all feeling the effects of 2020 (and we’re only halfway through!), but what does that mean for the real estate market? The reports for the Carolinas are in and Jeff Cook Real Estate has the expert advice to help you continue to make the best decisions when selling or buying. 

Since COVID-19’s arrival in the United States, many families are dealing with layoffs and wondering if they’ll be approved for purchasing a new home. Throughout the chaos and the unknown, Jeff Cook Real Estate has been able to adjust our services and continue working with families to sell and buy homes. 

Noticeable changes in the market throughout the month of June included a rise in showings. This is most likely because of the pent up demand from emerging back into the public after quarantine ended. We saw new listings were up almost 3% and most intriguing of all; for the month of June, the Months Supply of Inventory was down 41.9% in Charleston to 2.5 months, indicating that demand increased relative to supply. 

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

Charleston

Total Closed Sales - 2,043 (up 5.7%)

Average Days on Market - 52

Percentage of Asking Price Received - 96.9%

Greenville

Total Closed Sales - 1,591 (up 13.7%)

Average Days on Market - 54

Percentage of Asking Price Received - 98.4%

Columbia

Total Closed Sales - 1,424 (up 4.2%)

Average Days on Market - 52

Percentage of Asking Price Received - 98.2%

Myrtle Beach

Total Closed Sales - 956 (up 9.3%)

Average Days on Market - 137 (up 7%)

Percentage of Asking Price Received - 97.3% 

Myrtle Beach Condos

Total Closed Sales - 532 (up 2.5%)

Average Days on Market - 129 (up 12.2%)

Percentage of Asking Price Received - 96%

The number of homes available for sale in each market is lower than last year at this time. 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 asking price because there aren’t as many options for buyers. If you’re a homeowner, it’s important that you partner with a real estate expert from Jeff Cook Real Estate to guarantee your home sold in the fastest amount of time while receiving the most amount of money. 

Having a professional real estate agent in charge of listing your home will ensure it’s seen by the right buyers and that you receive top dollar for your home. Give us a call at 855-HEY-JEFF to speak with an agent today!

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