If one of your New Years resolutions was to sell your home, it might be a resolution you should stick to!
You still have an opportunity to cash out on your equity with the continued low home inventory and supply chain issues causing building cost increases and delays. There are no signs that this will change anytime soon but we might see a slight slowdown in the amount of appreciation homes will bring, it is expected to slow down based on predictions from Fannie Mae and the National Association of Realtors. The increase in interest rates will most likely cause even more buyers entering the buyer pool trying to secure their homes before the rates continue to rise.
"Looking ahead, experts anticipate many of the housing market trends of 2021 will continue in 2022, albeit at a more moderate level. Strong buyer demand and inventory shortages are likely to persist over the next year. Home sales are projected to remain strong but will be tempered by the limited supply of homes, higher sales prices, and rising interest rates, with the Federal Reserve planning multiple rate hikes in the new year. Price growth is expected to slow somewhat as a result, but affordability will likely remain a top constraint for some homebuyers."
Average Sales Price:
Entire MLS $542,004 | +24.0% 77 - Daniel Island $1,543,632 | +37.1% Mount Pleasant $808,159 | +25.0% 51 - Peninsula Charleston Inside of Crosstown $1,386,840 | +33.8%
Average Price Per Sq Ft:
Entire MLS $245 | +22.5% 77 - Daniel Island $394 | +18.3% Mount Pleasant $327 | +29.2% 51 - Peninsula Charleston Inside of Crosstown $585 | +19.4%
Dollar Amount Sold: Entire MLS $1,053,113,567 | +15.9% 77 - Daniel Island $41,678,063 | -15.8% Mount Pleasant $177,794,940 | -5.8% 51 - Peninsula Charleston Inside of Crosstown $69,342,000 | +39.3%
If you're looking to buy or sell, give us a call - we are ready to help you get the biggest return for your sale and find the perfect diamond in the rough!