HORRY COUNTY, SC (WBTW) – If you’re thinking about selling your Grand Strand home, real estate experts say now is the right time.
According to a Coastal Carolinas Association of Realtors December 2020 report market inventory decreased by 35%.
With less houses to choose from, more offers are being made.
“Some people don’t want to be in a multiple offer situation. They don’t want to over pay, but that really is what our market is demanding right now,” said Annie Williams with Move South with Annie, BRG.
The Associated Press reports U.S. home prices jumped in November at the fastest pace in more than six years.
Median selling prices for single family homes in the Grand Strand. have risen by 5%. Now the market is favoring sellers.
“If you’ve been thinking about [selling] in the near past, now is the time to do it. Problem being, where are you going to go? Because there’s not much inventory on the other side,” said Williams.
Those looking to buy a home also have a brightside.
Historically low interest rates are keeping cost down.
“The prices, they’re higher, but you mix that in with the low interest rates and their monthly payments are not much different than they would have been when the prices were lower and the interest rates were higher. That’s really why we haven’t seen the demand slow down. They’re really not paying more,” said Harrison Biddle, realtor with Duncan Group Properties.