The Market Then and Now
These Graphs are showing the Charleston Tri-County Real Estate Market. Sales and Listings in 2009 & also in 2005 to show you the comparisons. The one on the left is the market in the year 2009 if you click on the graph it will enlarge so you can see the numbers. The pink is the number of homes on the market in the different price ranges. The blue is the sales in the different price ranges. As you can see even though the market has slowed down homes were still selling. The difference is the amount of homes on the market, this is a buyers market, it’s all about supply and demand. On the right(above) is the market as it was in 2005 when the there was not as many houses on the market. It was definitely a seller’s market. Plenty of buyers, which turned into a great deal of multiple offers on houses. Therefore the prices increased and appreciation doubled and tripled. This could not continue, the market had to balance out. Although, now house prices have dropped dramatically forcing many sellers into short sales and many foreclosures. I do think it is important to show the comparisons to our clients, to help them understand what has happened in the market place.
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