In tracking the number of homes, lots, commercial, and rentals in the Charleston Tri-County MLS system, I noticed there are approximately 1,000 fewer listings today than I've seen over the past several months. Whether or not this lessening of supply is an indication of a trend will remain to be seen, but check my site for updates.
Another interesting indicator is the report of multiple offer situations in other areas of the country. While there may not yet be many of these competitive bidding events in all areas, certainly there will be others who have been watching and waiting for the bottom of the market, but with the super low interest rates, now is the time to act. In fact, this just happened to me since I have been watching a certain property for months, but noticed it just went under contract.
- On 1/10/09 - Slightly fewer available properties today and more rentals and sales. Watch for my updates.
Mount Pleasant, SC